1. CENTRE OF ISLAMIC BANKING
& ECONOMICS
Press Release
Islamic Finance and Funds Industry gaining brisk popularity
International Conference on Islamic Funds and Investments opened in Karachi; A large number
of investors participated in the Conference
February 23, 2012
(Karachi) An International Conference on Islamic Funds and Investment opened today in a local hotel in Karachi,
participated by a large number of investors from UAE, USA, UK, Canada, Malaysia and Qatar. The topics covered
on first day of the Conference were, Investment opportunities for Islamic Funds, Shariah status and Mechanism of
Islamic Investments and Funds with global trends, Standardization and Brokerage and exchange rules and the
Islamic Exchange Indices. The next two days have been allocated for training workshops on the allied topics on
Islamic Investments, Marketing and Shariah guidelines.
A large number of well known Shariah Scholars and Islamic finance professionals including: Mr Irfan Siddiqui, CEO,
Meezan Bank Limited. Pakistan; Majid Siddique Dawood, CEO, Yassar Ltd. UK; Mr. Asif Arif Commissioner,
Securities and Exchange Commission of Pakistan; Mr. Saleem Ullah, Director, Islamic Banking State Bank of
Pakistan; Omar Farooq Kalair, CEO, Um Financial Group, Canada; Shamshad Nabi, CEO, MUFAP; Prof Dr.
Aurangzeb, HOD, Business Administration Department, Dadabhoy Institute Of Higher Education, Karachi;
Mohammad Shoaib, CFA, Chief Executive, Al Meezan Investment Management Limited; Nadeem Naqvi, MD,
Karachi Stock Exchange Limited, Pakistan; Kavilash Chawla, MD, Nur Global Strategies, Chicago, U.S.A; Ms. Tara
Uzra Dawood, Chief Executive Officer, Dawood Capital Management Ltd, Pakistan; Dr. Zubair Usmani Shariah
Advisor MCB Bank Limited, Pakistan; Syed Tariq Ali, Executive Director, Pathway Global LLC, UAE; Mufti
Muhammad Najeeb Khan, Shariah Advisor, Habib Metropolitan Bank Limited, Pakistan; Qazi Abdul Samad, Shariah
Advisor, The Bank of Khyber, Pakistan; Azeem Iqbal Pirani Regional Manager FWU Group and Muhammad Asad,
Chief Investment Officer, Al-Meezan Investments Ltd.
Islamic finance is making healthy growth in Pakistan which now stands over 1000 Islamic banking branches from
05 Islamic Banks and 13 Conventional Banks with Islamic finance operations. In addition, we have good support
from 05 Takaful Companies, Mudarabah Companies, 20 Islamic Microfinance Institutions, over 29 Sukuk issues and
15 Asset Management Companies have launched their Islamic Funds, which have made prominent role of Pakistan
in the global Islamic finance canvas.
The organizer of this International Conference and CEO, AlHUda-CIBE, Mr Zubair Mughal while declaring the
objectives behind this conference, highlighted the valuable contribution by Pakistanis in research, shariah and
skilled professionals bringing strong alternative in a difficult financial situation faced by the world.
Mr Zubair added that Islamic funds are rapidly gaining popularity in US$1.3 Trillion worth of global Islamic finance
market gaining 6.1% share from over 650 funds spread all over the world, of which the highest 230 is in Saudi
Arabia while Malaysia has 172, Cayman Island 59, Bahrain 46, Luxemburg 29, Dubai 16, Singapore 11 are the

2. prominent players in the world. Mr Zubair Added that Islamic Funds industry is growing with other aspects of
Islamic Finance including Mudarabah and Takaful businesses. Some of these funds are the leading funds in Asian
markets as well, which is a matter of honor for Pakistan and can be taken as the source of further development in
this sector. He further added that from the bright prospects for Islamic Funds other allied sectors like brokerage
houses; stock market indices etc will also gain momentum.
The hosts and organizers of the Conference AlHuda Center of Islamic Banking and Economics are organizing it with
the technical support of Meezan Bank and UBL Asset Management limited and the support of other including Al-
Meezan Investment Management Ltd, Dawood Capital Management Ltd, FWU, Burj Bank Ltd, Dadabhoy Institute
of Higher Education, Diyanah Financial Services, Khyber Bank Ltd, ABL Asset Management Ltd, Habib Metropolitan
Bank and Babib Mudarabah to make the Conference successful.
Head Office: 192- Ahmad Block, Ph: +92-42-35913096-8 E-mail: info@alhudacibe.com
New Garden Town Lahore, Pakistan. Fax: +92 -42-35913056 Website: www.alhudacibe.com