In a landmark second in Islamic banking, DIB Pakistan has entered right into a strategic partnership with Hakeem Straightforward Finance by Walee Monetary Companies (WFS), to digitize its Sharia course of for private finance portfolio.
The Memorandum of Understanding (MoU), signed by the management of each establishments, appoints WFS because the digital infrastructure associate for transitioning DIB Pakistan’s private finance sharia operations from a conventional framework to a structured, technology-enabled mannequin.
By way of this partnership, DIB will be capable to serve clients extra effectively, swiftly, and in a well-controlled digital setting, whereas additional strengthening its management within the Shariah-compliant private finance area.
It introduces a digitally executed course of to strengthen sharia work circulate mechanics, improve transparency, and allow real-time monitoring with structured documentation.Muhammad Ali Gulfaraz, CEO of DIB Pakistan, mentioned: “This partnership displays disciplined modernization in Islamic finance. By embedding know-how inside a rigorously supervised framework, we’re strengthening governance, enhancing transparency, and reinforcing genuine shariah-based ideas at scale.”
Dubai Islamic Financial institution is the primary financial institution within the business that gives Shariah-compliant Private Finance to clients on the time once they require instant liquidity for his or her dire wants corresponding to medical emergencies, schooling bills, marriage, and different important life occasions.
To this point, DIB has efficiently served over 50,000 clients, disbursing roughly PKR 10 billion via Shariah-compliant private finance options, making certain clients have entry to funds once they want them most, with out compromising their faith-based monetary ideas.
This displays DIB’s robust dedication to monetary inclusion via moral and accountable financing.
Noshad Minhas, CEO of WFS, added: “This collaboration demonstrates the maturity of Islamic Fintech-as-a-Service (IFaaS), enabling establishments to protect strong governance whereas benefiting from digital precision and scalable compliance.”
In accordance with DIB Pakistan, clients will profit from sooner processing, streamlined documentation, better transactional visibility, and improved servicing via built-in digital methods. For the broader business, the initiative units a brand new digital precedent in Islamic private finance, demonstrating that regulated establishments and fintech innovators can collaborate to modernize operations with out compromising principled monetary structuring.
