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.
Moreover, collaboration between academia, Shariah scholars and industry professionals can be established through these research centers which will allow synergies along with identifying priority research area. Ladies & Gentlemen; The second challenge is capacity building and awareness. The State Bank of Pakistan, as a regulator performs the role of facilitator for Islamic banking industry in the country.