Undergraduate students at the Institute of Business Administration (IBA) recently took center stage in the realm of Islamic finance during an electrifying competition aimed at fostering innovation in the industry. Hosted on May 10th, the event saw budding talents from the Islamic Banking and Finance course at IBA unveiling groundbreaking products designed for the Islamic finance sector.
Organized by Dr. Irum Saba from the Department of Finance within the School of Business Studies, the competition received generous sponsorship from the IBA Centre for Excellence in Islamic Finance (CEIF). This platform allowed participants to showcase their ingenuity before a panel of esteemed judges, each boasting substantial experience in corporate Islamic finance.
Distinguished guests, Mufti Dr. Irshad Ahmad Aijaz, Chairman of the Shariah Advisory Committee of both the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan, along with Dr. Muhammad Imran, Group Head of Islamic Banking at Bank Alfalah, graced the occasion. They emphasized the importance of Islamic finance education and addressed pertinent queries from the students.
Prof. Dr. Hilal Anwar Butt, chairperson of the Department of Finance, expressed appreciation to the judges and chief guests for their invaluable contributions.
The panel of judges comprised industry stalwarts including Syed Nayyar Hussain from Salaam Takaful, Muhammad Nasir Ali Syed from 5th Pillar Takaful, and Ali Ahsan from Bank Alfalah’s Islamic Banking division, among others.
Students exhibited remarkable innovation, presenting novel ideas that captivated the judges. The competition was marked by a palpable sense of enthusiasm, culminating in the recognition of the top three winners with cash prizes. This acknowledgment underscored the caliber of participants and the significance of their contributions to Islamic finance.
The event not only celebrated the talent and dedication of IBA students but also underscored their pivotal role in propelling forward innovative solutions within the Islamic finance landscape. It served as a testament to IBA’s commitment to nurturing future leaders in the field of finance, particularly within the context of Islamic finance.
