Pakistan and Iraq Forge Path in Islamic Finance Through Key Delegation Visit

Karachi: The Pakistan Stock Exchange (PSX) recently hosted a delegation from Iraq’s Scientific Foundation for Financial Transactions (SFFT Iraq), aiming to explore collaboration opportunities in Islamic finance and enhance the Islamic capital markets of both nations. The delegation, comprised of noted Iraqi scholars, sought to learn from Pakistan’s established practices in Islamic finance.

According to a statement by Pakistan Stock Exchange Limited, the Iraqi delegation included Ayatollah Syed Izz-al-Din-Ai-Hakim and other scholars, facilitated by the Al-Sadiq (AS) Institute in Karachi. PSX officials, along with members of the Shariah Focus Group, welcomed the delegation.

Discussions centered on the landscape of Pakistan’s Islamic finance, covering the debt market, equity segments, and listing opportunities. The Iraqi scholars expressed interest in leveraging Pakistan’s models to benefit Iraq’s growing Islamic finance sector, which has seen significant expansion in recent years.

The visit underscores the potential for joint innovation in financial products and marks a step towards greater economic cooperation between Pakistan and Iraq.