Islamic finance system rapidly expanding.

Byline: KHALIL AHMED

Interview with Mohammad Shoaib - CFA and CEO, Al Meezan Investments

PAGE: Tell me something about yourself, please?

Mohammad Shoaib: I have the honor of being the founding CEO of Al Meezan Investment Management Ltd (AMIM), which is the first and still the only full-fledged Shariah Compliant Asset Management Company in Pakistan. Al Meezan Investments is managing investments of over Rs.186 Billion USD 1.05 Billion (as on January 31, 2022) across 19 mutual funds/pension funds and discretionary portfolios on behalf of 160,000 clients. We have over 500 employees in the organization.

I got my MBA from IBA in 1988 and CFA charter from CFA Institute, USA in 1999. I am also a Harvard Business School Alumnus completing 'Advanced Management Program' (AMP) at Harvard Business School alongside global business leaders and CEOs.

I am currently one of the directors of CFA Society Pakistan, which was founded by myself under the capacity of President in 2002. In 2006, the CFA Institute Magazine recognized me as the "Most Influential CFA Charter Holder", while as recently as in 2019, I was conferred the very prestigious accolade of "Volunteer of the Year: Lifetime Achievement Award" by the same institute.

Professionally, I have been an active volunteer in many areas of the financial sector and some of my volunteer roles include being:

*Nominee director of SECP on Board of Pakistan Stock Exchange (PSX).

*Board member of Institute of Chartered Accountants of Pakistan (ICAP).

*Chairman, Mutual Funds Association of Pakistan (MUFAP).

*Board member of Pakistan Institute of Corporate Governance (PICG).

*Member of the Academic Board of Institute of Business Administration (IBA), Karachi.

*Member of the Central Bank's Committee on Islamic Capital Markets.

Currently, I am the Board Member, Advocacy and GIPS Chair for CFA Society Pakistan and Senior Vice Chairman of MUFAP. I have participated in various seminars, conferences and workshops across the globe during my 30-year career in investment management.

Al Meezan Investments: We began our journey in 1995. The objective of this journey was simple: to bring Shariah compliant investment options to the people of Pakistan and make it their first choice. Due to the continued trust our customers hold in us, Al Meezan is, Alhamdulillah the largest Asset Management Company (AMC) in Pakistan with a market share of around 39% in the Islamic mutual funds segment and around 16 market share in overall industry (as of January 31, 2022).

As the leading Fund Manager in Pakistan, we offer a comprehensive range of Shariah compliant investment solutions.

We are proud to maintain AM1 rating, which is the highest management quality rating in Pakistan, which has been awarded by both VIS and PACRA (Credit Rating companies).

PAGE: Your views on Islamic finance?

Mohammad Shoaib: I feel before we get into this question, we need to first have a clear understanding of the Islamic Financial System. When it comes to...