BankIslami and Al-Hilal Shariah Advisors Sign Technical Services Agreement for Shariah-Compliant Equity Screening Support.
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BankIslami, one of Pakistan’s fastest-growing Islamic banks, has entered a Technical Services Agreement with Al-Hilal Shariah Advisors for the provision of specialized equity screening and data analytics services.
Under this agreement, Al-Hilal Shariah Advisors will provide technical support for screening and monitoring of listed equities at the Pakistan Stock Exchange against pre-defined Shariah screening parameters approved by BankIslami’s Shariah Board.
This collaboration will enable timely identification of listed equities transitioning towards Shariah compliance. The incorporation of data-driven insights will strengthen Shariah governance and enhance transparency.
The partnership was formally marked at a signing ceremony at BankIslami’s headquarters in Karachi, attended by Imran H Shaikh, Dy Chief Executive Officer of BankIslami, Faraz Younus Bandukda, Chief Executive Officer of Al-Hilal Shariah Advisors, along with other senior representatives from both organizations.
“This collaboration is a reflection of BankIslami’s commitment to enhance operational efficiency and cost-effectiveness by leveraging specialized technical expertise where available,” Rizwan Ata, CEO and President of BankIslami, said on the occasion.
“It also highlights the importance of incorporating data-driven insights to support the development of Shariah-compliant capital market activities in Pakistan.”
This agreement reflects BankIslami’s commitment to strengthening Shariah governance through reliable and up-to-date compliance monitoring.
