Standard Chartered, LUMS to promote Islamic education
LAHORE: Standard Chartered Bank and Lahore University of Management Sciences (LUMS) signed a memorandum of understanding (MoU) with a primary focus to promote State Bank of Pakistan’s (SBP) 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 building upon the agenda of SBP to promote this programme in the country by becoming a strategic partner of LUMS. The agreement was signed by Standard Chartered Pakistan Chief Executive Officer Shazad Dada and LUMS Vice Chancellor Dr Sohail Naqvi.
Commenting on the agreement, Shazad Dada said, “I would like to congratulate SBP for supporting strategic initiatives like these in the country. I am optimistic that this partnership with LUMS with further strengthens the foundations of Islamic finance and help young people to get gainful employment in the country.” Dr Sohail Naqvi on the occasion said, “LUMS and Standard Chartered Bank have a long standing relationship.