Promotion of Islamic finance: Standard Chartered, LUMS sign agreement

Standard Chartered Bank and Lahore University of Management Sciences (LUMS) signed a Memorandum of Understanding, with a primary focus to promote State Bank of Pakistan's initiative of establishing Centres of Excellence in Islamic Finance to promote the Islamic banking industry in the country.
Standard Chartered Bank is the only International Bank in Pakistan which builds upon the agenda of State Bank of Pakistan to promote this programme in the country by becoming a strategic partner for its promotion with LUMS. The agreement was signed by Shazad Dada, Chief Executive Officer, Standard Chartered Pakistan and Dr Sohail Naqvi, Vice Chancellor, LUMS. Commenting on the agreement, Shazad Dada said, "I would like to congratulate SBP for supporting strategic initiatives like these in the country. -PR