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Standard Chartered Saadiq

Global Shariah Majlis 2024
‘Islamic Finance: Transforming for a Better Tomorrow’

23rd October 2024
Movenpick Hotel, Karachi - Pakistan

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  • Welcome Address
  • Keynote Address
  • Special Address
  • Panel 1
  • Panel 2
  • Panel 3
  • Closing remarks

Welcome Address

Welcome Address

Rehan M Shaikh, Chief Executive Officer, Standard Chartered Pakistan Ltd

Keynote Address

Keynote Address

Dr Ishrat Hussain, Ex Governor State Bank of Pakistan 1999 - 2006, Ex Dean and Director - Institute of Business Administration (IBA) 2008 - 2016 and Ex Advisor to PM on Institutional Reforms and Austerity with the status of Federal Minister

Special Address

Special Address

Mr Saleem Ullah, Deputy Governor, State Bank of Pakistan

Panel 1

Panel 1: Paradigm Shift: Transition to an Islamic Finance Ecosystem

Moderator:

Azhar Aslam, Head Islamic Banking, Pakistan

Panelists:

Sheikh Nizam Yaquby, Global Shariah Supervisory Committee Member, Standard Chartered Bank
Dr Mohamed Ali Elgari, Global Shariah Supervisory Committee Member, Standard Chartered Bank
Dr Aznan Hasan, Global Shariah Supervisory Committee Member, Standard Chartered Bank
Dr Mufti Irshad Ahmad Aijaz, Shariah Board Member, Standard Chartered Bank Pakistan
Professor Dr Ashraf Md Hashim, Internal Shariah Supervision Committee Member, Standard Chartered Bank UAE

Panel 2

Panel 2: "AI" Meets Islamic Finance: A New Era of Transformation

Moderator:

Dr Mufti Yousuf Sultan, Shariah Board Member, Standard Chartered Bank Malaysia

Panelists:

Dr Aznan Hasan, Global Shariah Supervisory Committee Member, Standard Chartered Bank
Mufti Muhammad Abdul Mubeen, Group Head Shariah Department, SCB and Shariah Board Member SCB Pakistan and Malaysia
Dr Ahcene Lahsasna, Chairman Internal Shariah Supervision Committee, SCB UAE and Shariah Board SCB Malaysia
Professor Dr Hakimah Binti Haji Yaacob, Shariah Board Member, Standard Chartered Bank Malaysia
Dr Haji Noralizam bin Haji Aliakbar, Syariah Advisory Board Member Standard Chartered Securities (B) Sdn Bhd

Panel 3

Panel 3: Maqasid Al-Shariah: Achieving Socio-economic upliftment through Islamic Finance

Moderator:

Professor Dr Zurina Binti Shafii, Shariah Board Member, Standard Chartered Bank Malaysia

Panelists:

Professor Dr Ashraf Md Hashim, Internal Shariah Supervision Committee Member, Standard Chartered Bank UAE
Dr Mufti Irshad Ahmad Aijaz, Shariah Board Member, Standard Chartered Bank Pakistan
Dr Ahcene Lahsasna, Chairman, Internal Shariah Supervision Committee, SCB UAE and Shariah Board SCB Malaysia
Dr Mufti Muhammad Sarfaraz Nihal, Resident Shariah Board Member, Standard Chartered Bank Pakistan

Closing remarks

Closing Remarks

Khurram Hilal, CEO Group Islamic Banking, Standard Chartered Bank

About The Global Shariah Majlis 2024

Global Shari'ah Majlis seeks to advance thought-leadership in the Islamic banking industry and raise public awareness of current trends in the sector.. Standard Chartered, as the leading international player in the Islamic banking industry, is proud to have some of the leading Shari'ah scholars on its various Shari'ah boards. This is a unique platform that brings together all these scholars on a single forum to discuss some of the latest issues being debated in the industry. The event will feature thought-provoking panel discussions around three key areas i.e. ‘Paradigm shift: Conversion to an Islamic finance ecosystem’, “AI” Meets Islamic Finance: A New Era of Transformation and Maqasid Al-Shariah: Achieving Socio-economic upliftment through Islamic Finance.

Agenda

09:00am

Registration / Networking

09:30am

Opening by EMCEE

Mustafa Adil, Head of Islamic Finance, Data and Analytics for the London Stock Exchange Group

View session details
09:31am

Quran Recitation

09:33am

Standard Chartered's Corporate Video

View session details
09:36am

EMCEE - Intro of the Event

Mustafa Adil, Head of Islamic Finance, Data and Analytics for the London Stock Exchange Group

View session details
09:38am

Welcome Address

Rehan M Shaikh, Chief Executive Officer, Standard Chartered Pakistan Ltd

View session details
09:45am

Keynote address

Dr Ishrat Hussain, Ex Governor State Bank of Pakistan 1999 - 2006, Ex Dean and Director - Institute of Business Administration (IBA) 2008 - 2016 and Ex Advisor to PM on Institutional Reforms and Austerity with the status of Federal Minister

View session details
09:53am

Special Address

Mr Saleem Ullah, Deputy Governor, State Bank of Pakistan

View session details
10:00am

Panel 1: Paradigm Shift: Transition to an Islamic Finance Ecosystem

View session details
11:00am

Coffee Break

11:15am

Panel 2: "AI" Meets Islamic Finance: A New Era of Transformation

View session details
12:15pm

Panel 3: Maqasid Al-Shariah: Achieving Socio-economic upliftment through Islamic Finance

View session details
01:20pm

Closing remarks

Khurram Hilal, CEO Group Islamic Banking, Standard Chartered Bank

View session details
01:27pm

EMCEE - Summarizing the event with conclusion

Mustafa Adil, Head of Islamic Finance, Data and Analytics for the London Stock Exchange Group

View session details
01:30pm

Lunch

Speakers

Sheikh Nizam Yaquby

Sheikh Nizam Yaquby

Global Shariah Supervisory Committee Member, Standard Chartered Bank View profile
Sheikh Nizam Yaquby
Sheikh Nizam Yaquby
Global Shariah Supervisory Committee Member, Standard Chartered Bank

Sheikh Nizam Yaquby was educated in the classical Shariah sciences in his native Bahrain and in Makkah. He received his Bachelors in Economics and Comparative Religion from McGill University, Montreal, Canada. Since 1976, Sheikh Yaquby has taught Tafsir, Hadith and Fiqh in Bahrain.

He is the member of Central Bank of Bahrain Shariah Board and a Shariah Advisor to several international and local financial institutions worldwide. He is also the author of several articles and publications on Islamic Finance.

Dr Mohamed Ali Elgari

Dr Mohamed Ali Elgari

Global Shariah Supervisory Committee Member, Standard Chartered Bank View profile
Dr Mohamed Ali Elgari
Dr Mohamed Ali Elgari
Global Shariah Supervisory Committee Member, Standard Chartered Bank

Dr Mohamed Ali Elgari holds a PhD in Economics from the University of California. He is also a Professor of Islamic Economics and the Director of the Centre for Research in Islamic Economics at King Abdul Aziz University in Saudi Arabia.

Dr Elgari is also an expert at the Islamic Jurisprudence Academy (OIC), Jeddah and has published several articles and books on Islamic Finance. He is a Shariah advisor to several international and local financial institutions worldwide.

Dr Aznan Hasan

Dr Aznan Hasan

Global Shariah Supervisory Committee Member, Standard Chartered Bank View profile
Dr Aznan Hasan
Dr Aznan Hasan
Global Shariah Supervisory Committee Member, Standard Chartered Bank

Dr Aznan Hasan holds a PhD in Islamic Law from the University of Wales, Lampeter, United Kingdom. He received his degree in Shariah from the University of Al-Azhar and a Masters degree in Shariah from Darul Ulum, Cairo University.

He is an Associate Professor in Shariah at the Institute of Islamic Banking and Finance, International Islamic University Malaysia. He is the Deputy Chairman of Shariah Advisory Council of the Securities Commission Malaysia. He is also member of Higher Shariah Authority of the Central Bank of UAE. He serves as a Shariah Advisor and Shariah Consultant to several international and local financial institutions, government bodies and corporations.

Dr Mufti Irshad Ahmad Aijaz

Dr Mufti Irshad Ahmad Aijaz

Shariah Board Member, Standard Chartered Bank Pakistan View profile
Dr Mufti Irshad Ahmad Aijaz
Dr Mufti Irshad Ahmad Aijaz
Shariah Board Member, Standard Chartered Bank Pakistan

Dr Mufti Irshad Ahmad Aijaz (Member Shariah Board) holds advisory positions at a number of institutions and regularly delivers lectures on Islamic Economics and Finance at different forums and educational institutions, including IBA (Institute of Business Administration), NIBAF (SBP) and CIE (Centre for Islamic Economics – a division of Jamia Darul Uloom, Karachi). He holds Shadat-ul-Aalamia (Masters in Arabic and Islamic Studies) from Jamiatul Uloom Islamiyyah, Binnori Town, Karachi, Takhassus fi al-Iftaa (Specialization in Fatwa) from Jamia Darul Uloom, an MBA (Finance) from Iqra University, Karachi in addition to PhD from University of Karachi.

Dr Mufit Irshad serves in many Shariah boards including Bank Islami Pakistan, Summit Bank. He is also the chairman of the of the Shariah Advisory Committee of State Bank of Pakistan, Securities and Exchange Commission of Pakistan and member of AAOIFI Sharia standard committee.

Professor Dr Ashraf Md Hashim

Professor Dr Ashraf Md Hashim

Internal Shariah Supervision Committee Member, Standard Chartered Bank UAE View profile
Professor Dr Ashraf Md Hashim
Professor Dr Ashraf Md Hashim
Internal Shariah Supervision Committee Member, Standard Chartered Bank UAE

He is the Chairman of the Shariah Advisory Council of Bank Negara Malaysia and a professor at International Centre of Education in Islamic Finance (INCEIF). He obtained his PhD (Islamic Law) from University of Birmingham, Masters in Fiqh and Usul Fiqh from University of Jordan (1995) and his BA in Shariah from Islamic University in Medina, Saudi Arabia (1991). He is the Deputy Chairman of Securities Commission of Malaysia’s Shariah Advisory Council (SAC SC). He is also, a member of Shariah Committee for International Islamic Liquidity Management Cooperation (IILM) and the Chairman of Shariah Committee of Bursa Malaysia (Malaysia Exchange House). In addition, he also serves as member of National Fatwa Council of Malaysia, a Shariah committee member of Yayasan Waqf Malaysia (Malaysia Waqf Foundation), State Development Cooperation of Kelantan (SEDC), a committee member for Waqf Committee for Kelantan Religious Council and Finance and Investment Committee member for Selangor Religious Council. He is currently the President of the Association of Shariah Advisers in Islamic Finance (ASAS) Malaysia.

Dr Ahcene Lahsasna

Dr Ahcene Lahsasna

Chairman Internal Shariah Supervision Committee, SCB UAE and Shariah Board SCB Malaysia View profile
Dr Ahcene Lahsasna
Dr Ahcene Lahsasna
Chairman Internal Shariah Supervision Committee, SCB UAE and Shariah Board SCB Malaysia

Holds a bachelor’s degree in Islamic law and jurisprudence from the university of Emir Abdel Kader, Algeria and has a masters and PhD from International Islamic University Malaysia.

He is the Chief Executive Officer of Salihin Shariah Advisory and the Chief Academic Officer of Salihin Academy, a council member of the Malaysian Financial Planning Council, and the Academic Director of Singapore Islamic Finance Academy. He has authored more than 20 books and has been the recipient of the Global Business Leadership Islamic Finance Award in 2017 and 2019. and currently chairs the Shariah Committee of Standard Chartered’ s Saadiq Bank (Malaysia)

Mufti Muhammad Abdul Mubeen

Mufti Muhammad Abdul Mubeen

Group Head Shariah Department, SCB and Shariah Board Member SCB Pakistan and Malaysia View profile
Mufti Muhammad Abdul Mubeen
Mufti Muhammad Abdul Mubeen
Group Head Shariah Department, SCB and Shariah Board Member SCB Pakistan and Malaysia

Mufti Muhammad Abdul Mubeen is the Head of Shariah Department for Group Islamic Banking function of Standard Chartered Bank for the past 14 years and Shariah Board Member/Shariah Advisor for Standard Chartered Bank Pakistan & Malaysia.

Mufti Mubeen obtained Shahadat ul Alamiyyah from Jamiat ul Uloom il Islamiyyah, Allamah Binnori Town Karachi, Pakistan. He has done his Takhassus fil Ifta from Jamiah Darul- Uloom Karachi, Pakistan. He received his Master of Commercial Law from The University of Melbourne, Australia and LLB (Hons) Shariah & Law from International Islamic University, Islamabad.

He was also a member of Shariah Advisors Forum (SAF) established by State Bank of Pakistan. He has taught different subjects of Shariah such as Usul ul Fiqh, Fiqh and Comparative Study of Law at different institutions in Pakistan. He has an extensive experience in the field of Islamic Finance and Insurance.

Professor Dr Hakimah Binti Haji Yaacob

Professor Dr Hakimah Binti Haji Yaacob

Shariah Board Member, Standard Chartered Bank Malaysia View profile
Professor Dr Hakimah Binti Haji Yaacob
Professor Dr Hakimah Binti Haji Yaacob
Shariah Board Member, Standard Chartered Bank Malaysia

Dr Hakimah Binti Haji Yaacob is a Senior Assistant Professor of University Islam Sultan Sharif Ali (UNISSA) Brunei Darussalam. Currently, she is a consultant of Bank Islam Brunei Darussalam (“BIBD”) and Tabung Amanah Islam Brunei (TAIB). Apart from that, she is a member of the Chartered Institute of Arbitrators, UK and certified mediator of Australian Accord Group and Malaysian Mediation Centre.

Being an expert in Islamic Law, Dr Hakimah’s expertise is not only limited to writing and drafting Islamic legal documentation, but she is also involved with various primary research, focusing on Islamic Finance and regulatory framework. She received her PHD in Law, Masters in Comparative Law, LLB Shariah Hons and LLB Hons from International Islamic University Malaysia. She also holds a diploma in Victimology from Tokiwa University Japan.

Dr Haji Noralizam bin Haji Aliakbar

Dr Haji Noralizam bin Haji Aliakbar

Syariah Advisory Board Member Standard Chartered Securities (B) Sdn Bhd View profile
Dr Haji Noralizam bin Haji Aliakbar
Dr Haji Noralizam bin Haji Aliakbar
Syariah Advisory Board Member Standard Chartered Securities (B) Sdn Bhd

Yang Mulia Dr Haji Noralizam bin Haji Aliakbar is an Assistant Professor of Kolej Universiti Perguruan Ugama Seri Begawan (KUPU SB) (Seri Begawan Religious Teachers University College) and Dean of Syariah Faculty at KUPU SB. His area of expertise in Islamic jurisprudence (Fiqh) and Islamic finance includes jurisprudence of transactions (Fiqh Muamalat), Islamic entrepreneurship and Syariah Objectives (Maqasid Syariah) as well as Islamic Governance and Legislative Policy in Islam.

Being a scholar in Syariah, Dr Haji Noralizam actively participates in various primary research and by being a speaker in local and international seminars related to the Syariah and Fiqh Muamalat.

He received his Bachelor of Islamic Law (Syariah) (Hons) from Al-Azhar University, Cairo Egypt and later obtained Master and Ph.D in Islamic Law (Syariah), Specialisation in Fiqh and Usul Fiqh from University of Jordan, Amman Jordan (Field of research: Islamic Finance). Dr Haji Noralizam is the first Bruneian to obtain Doctor of Philosophy degree from the University of Jordan.

Dr Haji Noralizam has been appointed as a Syariah Advisory Body member of Standard Chartered Securities (B) Sdn Bhd since October 2022.

Dr Mufti Muhammad Sarfaraz Nihal

Dr Mufti Muhammad Sarfaraz Nihal

Resident Shariah Board Member, Standard Chartered Bank Pakistan View profile
Dr Mufti Muhammad Sarfaraz Nihal
Dr Mufti Muhammad Sarfaraz Nihal
Resident Shariah Board Member, Standard Chartered Bank Pakistan

Dr. Mufti M. Sarfraz Nihal has got a decade long hands-on experience in the domain of Shariah Product Structuring, Shariah Audit & Shariah Compliance with reputable Islamic financial institutions namely, Al-Baraka Bank Pakistan Ltd. (Formerly Emirates Global Islamic Bank), Faysal Islamic Bank, Bank Al Habib Ltd. (IBD) & Standard Chartered Bank Pakistan Ltd.

At present he is associated with Standard Chartered Bank Pakistan Ltd. (Saadiq) as Resident Shariah Board Member, heading the overall business according to Shariah perspective in Pakistan.

He is well versed with both contemporary and religious education and a household name in the vocational qualification of the aforementioned domain. He is privileged to be specialized in Islamic Jurisprudence & Fatwa & Shadatat ul Aalamia (Darse Nizami) from Wifaq ul Madaris Pakistan. Moreover, he possesses PhD (Islamic Finance), MPhil (Economics), MSc (Economics) & M.A. (Arabic & Islamic Studies) degrees from University of Karachi. He also bears PGD (Islamic Banking & Finance) from CIE, CPT (Certified Professional trainer) from Finance Accreditation Agency Malaysia & CSAA from AAOIFI –Bahrain.

Welcome, Keynote Address and Closing

Khurram Hilal

Khurram Hilal

CEO Group Islamic Banking, Standard Chartered Bank View profile
Khurram Hilal
Khurram Hilal
CEO Group Islamic Banking, Standard Chartered Bank

Khurram is currently the Chief Executive Officer and Head Group Islamic Products at Standard Chartered Saadiq – the Global Islamic Banking business of Standard Chartered Bank.

As a career Islamic Banker, Khurram has more than two decades of core Islamic banking experience across Consumer, Wealth Management, Private Banking, Transaction Banking and Financial Markets. He has led the development and roll out of the bank’s Islamic banking proposition across SCB footprint in Asia, Africa, Middle East, Europe and North America. He has been an active contributor to the Islamic banking industry and regularly provides advice to regulators and industry bodies. Khurram is proud to have worked alongside some of the top scholars in Islamic Finance industry.

Standard Chartered Saadiq offers a wide suite of product capabilities and award-winning solutions across the corporate, institutions and consumer spectrum. Since inception the business has won over 400+ internationally recognized industry awards.

Khurram holds a master’s degree from Institute of Business Administration (IBA), Pakistan and successfully passed CFA examination from CFA Institute, Charlottesville, USA. He is currently pursuing advanced studies in classical Islamic jurisprudence.

Mr Saleem Ullah

Mr Saleem Ullah

Deputy Governor, State Bank of Pakistan View profile
Mr Saleem Ullah
Mr Saleem Ullah
Deputy Governor, State Bank of Pakistan

A career Central Banker and Regulator with over 29 years’ experience at various important positions in State Bank of Pakistan including Head Strategic Management, Director Agricultural Credit, Director Development Finance, Director Islamic Banking, Director Finance and Executive Director Financial Resource Management. With strong strategic orientation, and diversified experience in different central banking functions, he has deep insights of banks regulation, development finance, Islamic finance, financial management, enterprise risk management. He is currently working as the Deputy Governor, State Bank of Pakistan and overseeing the financial inclusion, digital financial services, information technology, human resources and finance and risk management groups. Before his appointment as Deputy Governor, he worked as the MD and CEO of Pakistan Security Printing Corporation (PSPC) and took several initiatives to transform PSPC into a globally recognized and modern security printer. As the CFO from May 2018 to November 2022 reporting directly to the Governor, he headed the most diverse portfolio in the SBP and led the finance, the treasury operations, risk management and Information Securities. Using his deep insights of Islamic finance, he developed the Islamic version of Naya Pakistan Certificates and led the whole process of its development, approval by Ministry of Finance and SBP Shariah Committee, development of the requisite IT platform and launching in October 2020. Mr. Saleem is a member of the Executive Committee of SBP, and Monetary Policy Committee and chairs SBP IT Steering Committee. He is the Vice Chairman of the Board of Pakistan Security Printing Corporation and a member of National Council of Institute of Cost and Management Accountants in Pakistan. He also represented SBP on the Board of Pakistan Institute of Corporate Governance (PICG) as the Board Member.  His core competencies include strategic orientation, solution-oriented with focus on larger and strategic objectives, team building, conflict resolution, problem solving,  empathy, trust and compassion for subordinates and fellow colleagues, hardworking and full of positive energy to achieve the professional and institutional objectives.

By qualification, he is fellow member of Institute of Cost and Management Accountants, Pakistan, an MBA from Bahauddin Zikria University, Multan and an MPA from Kennedy School of Government, Harvard University.

Dr Ishrat Hussain

Dr Ishrat Hussain

Ex Governor State Bank of Pakistan 1999 - 2006, Ex Dean and Director - Institute of Business Administration (IBA) 2008 - 2016 and Ex Advisor to PM on Institutional Reforms and Austerity with the status of Federal Minister View profile
Dr Ishrat Hussain
Dr Ishrat Hussain
Ex Governor State Bank of Pakistan 1999 - 2006, Ex Dean and Director - Institute of Business Administration (IBA) 2008 - 2016 and Ex Advisor to PM on Institutional Reforms and Austerity with the status of Federal Minister
  • Ex Governor State Bank of Pakistan 1999 – 2006
  • Ex Dean and Director – Institute of Business Administration (IBA) 2008 – 2016
  • Ex Advisor to PM on Institutional Reforms and Austerity with the status of Federal Minister

Dr Husain had a distinguished career at the World Bank for over two decades 1979-1999. Among the key positions he held at the Bank were Resident Representative to Nigeria, head of the Bank’s Debt and International Finance Division, Chief Economist for Africa between 1991-94 and later as Chief Economist for East Asia and Pacific Region that included China. He became the Bank’s Director Poverty and Social Department and in 1997 he was named the Country Director for Central Asian Republics.

Since his retirement as the Governor he has been actively involved in many national and international assignments. During 2005-06 he was appointed by the Board of IMF as a member of a three person panel to evaluate the IEO. He was a member of the Mahathir Commission 2020 vision for the Islamic Development Bank (IDB). He also advised the IDB for creating its poverty reduction fund. He was appointed by the Board of Asian Development Bank to a two member independent panel to restructure the Accountability Mechanism. He also served on the Middle East Advisory Group of the IMF, Regional Advisory Group of UNDP, the President Advisory Council of IDB and was Chairman World Economic Forum Global Advisory Council on Pakistan until June 2014.

Ishrat Husain obtained Master’s degree in Development Economics from Williams College and Doctorate in Economics from Boston University in 1978. He is a graduate of Executive Development program jointly sponsored by Harvard, Stanford and INSEAD.

Rehan M Shaikh

Rehan M Shaikh

Chief Executive Officer, Standard Chartered Pakistan Ltd View profile
Rehan M Shaikh
Rehan M Shaikh
Chief Executive Officer, Standard Chartered Pakistan Ltd

Over 37 years of progressively senior management and diversified experience in banking including the areas of Corporate Relationship Management, Risk Management, Remedial Management, International Trade Finance and Branch Management. Consistent track record of identifying opportunities, building optimal businesses, and developing high performance teams. Demonstrated ability to operate effectively in multi-cultural environments, build and motivate teams to achieve business goals. Built enduring and multi-level relationships with Policy Makers, Regulators and Business Leaders.

Rehan M. Shaikh was appointed to the position of Chief Executive Officer for Standard Chartered Bank (Pakistan) Limited on 5th August 2020. Prior to this, he was the Chief Executive Officer of Standard Chartered Saadiq – the Global Islamic Banking business of Standard Chartered Bank (SCB). Saadiq is one of the largest Islamic Banking franchise amongst international banks and remains a key differentiator to the SC Group with its wide suite of products and award-winning solutions across all business segments.

Previously, Rehan has been associated with Dubai Islamic Bank UAE in the capacity of Senior Vice President & Business Head where he was responsible for managing the largest business within Corporate Bank. In the past, he has also led Corporate and Institutional Banking team for Standard Chartered Pakistan where he successfully managed the integration of SCB and ANZ Grindlays and is credited with building strong foundations for the combined Corporate Bank. Rehan has also Worked at American Express Bank in Pakistan for 12 years prior to joining SCB Pakistan in 1998, where his last position was of Senior Director and Corporate Banking Head for Pakistan. He also is a Council member of Institute of Bankers Pakistan and is part of External Advisory Board for Aga Khan University Research. Rehan has also served as the President of Overseas Investors Chamber of Commerce and Industry (OICCI) which is the largest & oldest chamber operating in Pakistan.

Rehan holds a bachelor’s degree in business administration from USA. He is married with 3 children.

Moderators and Emcee

Azhar Aslam

Azhar Aslam

Head Islamic Banking, Pakistan View profile
Azhar Aslam
Azhar Aslam
Head Islamic Banking, Pakistan

Azhar Aslam 30+ years of multi product experience across Wholesale and Consumer banking including expertise in Islamic and sustainable finance with multinational banks including American Express, Citi, Dubai Islamic and Standard Chartered (SC). He has experience in supervising diversified businesses, Climate Risk, Governance & Risk Management and Product Management.

Azhar is Head the Islamic banking business, second largest market in Islamic banking (Saadiq) network along with double hatting as Governance Head for Centre and North. Prior to re-joining Standard Chartered, Azhar was Group Head, Corporate and Investment Banking with Dubai Islamic Bank, and was instrumental as one of the core members for establishing the franchise in Pakistan.

In his current role Azhar has structured landmark sharia compliant deals including first foreign currency Sovereign sukuk, first World Bank PCG backed facility and LNG trade finance for the Sovereign by diversifying investor base. Azhar is also currently leading the transformational change at SC Pakistan to convert the entire eco system of Pakistan to Sharia Compliant solutions at the backs of the court judgement.

Azhar has been representing the bank on Sustainable finance working group of the State Bank of Pakistan and has provided strategic input to the group by leveraging on SC Group Sustainable Finance capabilities. He has collaborated with group Sustainability team to migrate best practices from SC to local market.

Azhar is member of the advisory Council of Lahore School of Management Sciences for Islamic Finance and member of Pakistan Banking Association committee on Islamic Banking.

He actively participates in community services through employee volunteering for social cause like education and support to the less privileged in the society.

Azhar holds an MBA degree from Institute of Business Administration, Karachi.

Dr Mufti Yousuf Sultan

Dr Mufti Yousuf Sultan

Shariah Board Member, Standard Chartered Bank Malaysia View profile
Dr Mufti Yousuf Sultan
Dr Mufti Yousuf Sultan
Shariah Board Member, Standard Chartered Bank Malaysia

Mufti Yousuf Sultan is the Founder and CEO of Adl Advisory in Malaysia which provides Shariah advisory, consultancy and training services related to Islamic Finance to various industries. He has also co-founded IFA Consultancy in Bangladesh, a pioneer institution promoting Islamic Finance to the mass through training, workshops, seminars and consultancies.

He received his MSc in Islamic Finance degree from INCEIF, Malaysia. Earlier, he graduated as a Mufti in Shariah and Islamic Jurisprudence from Jamia Shariyyah Malibag, Dhaka. He is also a registered Shariah Adviser with the Securities Commission of Malaysia and a Certified Islamic Finance Executive (CIFE) from Ethica Institute of Islamic Finance, Dubai. Apart from that, he is also a Certified Shariah Advisor and Auditor (CSAA) from Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Bahrain and an AAOIFI Master Trainer.

Mufti Yousuf has conducted various research and reports on Islamic Finance of which the most notable one is titled “Responsible Finance – Ethical and Islamic Finance: Meeting the Global Agenda” – published by RFI Foundation and IFSB, co-authored with Tan Sri Dr Zeti Akhtar Aziz, the former Governor of the Central Bank of Malaysia. Mufti Yousuf has been appointed as a Shariah Committee member for Standard Chartered Saadiq Berhad (SCSB) with effect from 1 June 2022.

Professor Dr Zurina Binti Shafii

Professor Dr Zurina Binti Shafii

Shariah Board Member, Standard Chartered Bank Malaysia View profile
Professor Dr Zurina Binti Shafii
Professor Dr Zurina Binti Shafii
Shariah Board Member, Standard Chartered Bank Malaysia

Dr Zurina Binti Shafii is a Professor of Islamic finance at the Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia (USIM) and a research fellow at USIM’s Islamic Finance and Wealth Management Institute (IFWMI). Her areas of expertise include Shariah Compliance Audit, Islamic Wealth Management, Islamic Accounting and Halal Management.

She received her first degree in Accounting from University Teknologi Mara (UiTM) and later obtained her Master’s degree and PhD both in Islamic Finance from Durham University, United Kingdom. She was awarded ACCA Professional Level Certificate and a Certified Islamic Financial Planner. She authored Islamic finance related books in areas of Islamic financial planning titled “Islamic Accounting and Halal Governance” published by IBFIM and two books titled “Governance and Shariah Audit in Islamic Financial Institution” and “State of Islamic Finance: A Retrospective Assessment and Looking Forward” published by Penerbit USIM.

Mustafa Adil

Mustafa Adil

Head of Islamic Finance, Data and Analytics, London Stock Exchange Group View profile
Mustafa Adil
Mustafa Adil
Head of Islamic Finance, Data and Analytics, London Stock Exchange Group

Mustafa Adil is the Head of Islamic Finance, Data & Analytics, for the London Stock Exchange Group. He is responsible for leading the Islamic finance and Islamic markets business for the organization, providing knowledge solutions and bespoke services to support the continued growth and increasing depth of the Islamic finance industry. He works in collaboration with government entities, multilateral organizations and leading financial institutions to support them in fulfilling their aspirations and executing their strategies in the Islamic markets space. These include the delivery of content solutions, research, consulting services and market engagement. He also spearheads the development of new initiatives or services that meet the increasingly sophisticated needs of the industry across markets.

Prior to the acquisition by London Stock Exchange Group, Mustafa was the Head of Islamic Finance for Refinitiv and for Thomson Reuters. Mustafa has also served as a leading consultant in the Islamic Financial Services team at Ernst & Young, providing advisory services to some of the leading Islamic financial institutions in the GCC and globally. He is a qualified Chartered Accountant from the Institute of Chartered Accountants of England & Wales and holds a Bachelor’s degree in Mathematics from Imperial College in London.

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We are proud to welcome Zunikh as Partner for IFN We are proud to welcome Zunikh as Partner for IFN UK Forum 2026.

This event will take place on 7th September 2026 at Mansion House, London.

FREE registrations now open.

#IFNUKForum2026 #REDmoneyEvents #REDMoney #IFN #Finance #UK
We are proud to welcome Zunikh as Partner for IFN We are proud to welcome Zunikh as Partner for IFN Investor America Forum 2026.

This event will take place on 16th June 2026 at New York.

FREE registrations now open.

#IFNInvestorAmericaForum2026 #REDmoneyEvents #REDMoney #IFN #Finance #NewYork
🌙✨ Eid Mubarak from Islamic Finance News! Wishing 🌙✨ Eid Mubarak from Islamic Finance News!

Wishing our global Islamic finance community joy, unity and continued success this Eid. 🤍🌙

#IslamicFinance #Eid2026
IsDB announces the winner of the Most Innovative T IsDB announces the winner of the Most Innovative Trade Development Initiative of the Year: EUR160 million (US$186.31 million) commodity Murabahah facility for Agrobank

The EUR160 million commodity Murabahah facility for Agrobank, backed by The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Standard Chartered, is a transformative milestone for Uzbekistan’s financial landscape. As the country’s first-ever commodity Murabahah transaction, it successfully navigated a complex regulatory vacuum, establishing a Shariah compliant blueprint for future trade liquidity.

The deal represents a “triple-first”: The inaugural use of this instrument in Uzbekistan, ICIEC’s first direct commercial banking partnership in the nation and a massive capital injection specifically for the underserved SMEs and retail sectors.

Read full article here @ifnforums 🎉
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