We as stakeholders of Islamic banking industry should recognize that we cannot move the industry to the next level of growth trajectory unless innovative Shariah based solutions for all financial services needs of the clients generally and business community particularly are developed. This highlights the need of research and development to be the core ingredient of the strategy of Islamic banking industry.
The industry needs to establish knowledge sharing and research platforms to evolve strategies on how best to meet the surging demand for Shariah compliant products and services in Pakistan. To this end industry can capitalise on strengths and expertise of Centres of Excellence in Islamic Finance Education that have been established as research incubator and for the capacity building of the industry.