KARACHI: BankIslami has signed a memorandum of understanding (MoU) with the Export-Import Bank of Pakistan (EXIM Bank), marking Pakistan’s first Shariah-compliant trade and export finance partnership of its kind, a statement said.
The collaboration aims to strengthen the country’s trade finance framework and expand access to riba-free (interest-free) financial solutions across Pakistan. This is also aimed at reshaping how Pakistani exporters access trade finance, establishing a framework across key areas, including export credit insurance, credit risk management, digital solutions and capacity building, with the shared goal of bringing Riba-free solutions to the heart of Pakistan’s export ecosystem and growing the trade footprint of both institutions.
“Strengthening Pakistan’s trade and export sector is a national imperative, and we are pleased to play our role in it. Through this collaboration, we aim to bridge the gap and ensure that Riba-free trade finance is accessible to the larger business community across the country,” BankIslami CEO Rizwan Ata said. “Our partnership with EXIM Bank is rooted in a shared commitment to grow Pakistan’s export footprint while keeping our financial system free from riba,” he added.
Shahbaz H Syed, CEO of EXIM Bank, said, “Pakistan’s export sector holds immense potential, and EXIM Bank remains committed to unlocking it through the right partnerships. Our collaboration with BankIslami brings together EXIM Bank’s trade finance expertise and BankIslami’s Sharia-compliant framework to create solutions that are both effective and accessible for Pakistani exporters.”
