KARACHI  -   Mashreq Pakistan, a part of Mashreq which is the leading financial institution in the MENA region, has announced the formation of the Shariah Board for its operations in Pakistan. Dr Ahcene Lahsasna has been appointed as chairman Shariah Board, Mufti Muhammad Abdullah as Resident Shariah Board Member and Mufti Imtiaz Alam as Shariah Board Member.

Mashreq’s recent in-principle approval from the State Bank of Pakistan to launch Islamic banking operations, coupled with the appointment of a distinguished Shariah Board mark a significant milestone in its Pakistani market expansion. This move highlights Mashreq Pakistan’s commitment to bringing innovative, agile and tailored financial solutions that are Shariah compliant, addressing Pakistani consumers’ unique needs.

Commenting on these pivotal appointments, Muhammad Hamayun Sajjad, CEO, Mashreq Pakistan, said: “Mashreq’s presence as a progressive international bank and its role as a catalyst for Pakistan’s future growth is steadily gaining momentum. We are poised to offer Islamic banking in the country, aspiring to deliver the best Islamic Banking solutions with an ambition to exceed customers’ expectations. I am delighted to welcome our distinguished Shariah Board members as they join Mashreq Pakistan. They have joined us at a pivotal moment and will play an important role in driving launch, followed by expansion of Mashreq’s Islamic banking services in country. Their expertise in Shariah compliance and Islamic finance will be instrumental in our mission to deliver Shariah-compliant financial solutions.”