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Role of OIC Trade Organizations,

Financial Institutions & other Stakeholders in

enhancing Intra-Islamic trade

Dr. Imran Ashraf UsmaniShariah Advisor and

Member Shariah Supervisory Board, Meezan Bank Limited, Pakistan

March 19 , 2014

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• Significance of OIC

• Facts and Figures about OIC

• Islamic Banking Growth Worldwide

• How to enhance intra-Islamic trade

• About Meezan Bank Limited (MBL)

• Advisory services offered by MBL

• Conclusion

Presentation Outline

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Significance of OIC

Organization of Islamic Cooperation (OIC)

• Second largest inter-governmental organization in the world

• Has membership of 57 states spread over four continents

• Works to “safeguard and protect the interests of the Muslim

world in the spirit of promoting international peace and

harmony”

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Facts and Figures about OIC

• Trade within the OIC today accounts for 17% of total international trade conducted by member states, up from 13% in year 2000

• Intra – OIC trade expected to grow to 20% by 2015• The global population of Muslims is expected to reach 2.2

billion by 2030• Global spending in the food and lifestyle sectors by Muslim

consumers is expected to surpass $1.62 trillion in 2014 and reach $2.47 trillion by 2018

(Source: CPI Financial)

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Prohibition of Riba in Quran

“O you who believe, Fear Allah and give up what remains of your demand for Interest, if you are indeed a believer. If you do not, then you are warned of the declaration of war from Allah and His Messenger; But if you turn back you shall have your principal: Deal not unjustly and you shall not be dealt with unjustly.”

(Quran: Al Baqarah : 278, 279)

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Islamic Banking Growth Worldwide

• Global Islamic Banking assets are approximately worth US

$1.7 trillion

• Annual Growth of 17.6% over last 4 years

• 38 million customers globally with Islamic banks

• Average ROE of 12.6% for top 20 Islamic banks, compared to

comparable conventional average of 15%

(Source: Ernst &Young)

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How to enhance intra-Islamic trade

• Share our expertise and achieve synergies

• Jointly promote intra-Islamic trade globally

• Join hands for Islamic Finance Research and Development

• Facilitate each other in our respective countries and in our

respective fields for the enhancement of intra-Islamic trade

• We welcome you to visit Pakistan and give us a chance to

facilitate you

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About Meezan Bank Limited (MBL)

• Largest Islamic Bank in Pakistan with a growing branch

network of over 350 branches in 100+ cities across the country

• Vision: “Establish Islamic banking as banking of first choice”

• Won the “Best Research and Development in Islamic Finance

2013” award by Global Islamic Finance Awards (GIFA)

• Asset base of over USD 3.3 Billion (↑20% since last year)

• More than 12 years of practical experience in the industry

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Advisory services offered by MBL

• Shariah Advisory Services to Start-up Firms / Banks / IFIs.• Islamic Financial Product Development and Product

Refinement• Islamic Capital Market Advisory Services• Establishing and Managing Islamic Stock Market Indices• Shariah Compliant Corporate Restructuring• Internal and External Islamic Banking & Finance Training

Sessions• Shariah Audit/Compliance & Strengthening Internal Shariah

Controls• Assistance in developing Shariah Supervisory Framework for

institutions

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Conclusion

And help each other in righteousness and piety, and help not one another in sin and transgression and remain fearing Allah. Undoubtedly, the torment of Allah is severe.

(Quran: Surah Maidah : 2)