In a landmark development, ZLK Islamic Financial Services, Pakistan’s leading Shariah-compliant brokerage firm, has forged a strategic partnership with Dubai Islamic Bank Pakistan Limited (DIBPL), a subsidiary of the pioneering Dubai Islamic Bank UAE. The collaboration was formalized through a memorandum of understanding (MOU) signed by Mr. Junaid Ahmed, CEO of DIBPL, and Mr. Zahid Latif Khan, Chairman of ZLK Islamic Financial Services, during a ceremony held at DIBPL’s head office in Karachi.
This alliance is poised to broaden access to ethical, Riba-free investment opportunities for a diverse clientele, including Roshan Digital Account holders and local investors. Through this partnership, clients will gain access to a range of Shariah-compliant financial products, such as shares, government Ijaras, Sukuk, Exchange-Traded Funds (ETFs), and Murabaha Share Financing (MSF).
The collaboration emphasizes both organizations’ commitment to advancing Islamic banking solutions and enhancing financial inclusion. Junaid Ahmed, CEO of DIBPL, highlighted the significance of this partnership, saying, “Our alliance with ZLK Islamic Financial Services underscores our dedication to delivering innovative financial products, promoting financial inclusion, and fostering prosperity.”
Naveed Malik, Head of Consumer Banking at DIBPL, echoed these sentiments, noting that the partnership aligns seamlessly with DIBPL’s objective of generating Halal Munafa (lawful profit) and advancing financial inclusion. He stated, “This collaboration enhances our business capabilities and aligns with our vision of generating Halal Munafa while promoting financial inclusion.”
For ZLK Islamic Financial Services, this partnership marks a major milestone in its mission to offer comprehensive Shariah-compliant brokerage services. The firm’s status as a licensed Shariah-compliant brokerage, granted by the Securities and Exchange Commission of Pakistan (SECP), further cements its role as a leader in ethical financial solutions within the country.
Zahid Latif Khan, Chairman of ZLK Islamic Financial Services, expressed his enthusiasm for the collaboration, saying, “This partnership represents a significant advancement in our goal to provide diverse and ethical investment opportunities. It enables us to serve a broader client base with trusted Shariah-compliant financial solutions.”
Overall, this partnership is expected to benefit both institutions significantly. For DIBPL, it offers an opportunity to access new markets and streamline its operations, while ZLK Islamic Financial Services aims to enhance its brokerage services and expand its client base. Through this collaboration, both entities are set to play a key role in advancing and expanding ethical, Shariah-compliant financial solutions in Pakistan, setting new industry standards and contributing to the country’s economic development.