Dawood Islamic Bank & Apvision ink agreement


Dawood Islamic Bank signed an agreement with Apvision a portfolio company of AMZ Ventures Limited on October 30, at Apvision’s Head Office in Karachi. Nikolaus Rafique and Syed Qutub Ahmed inked the agreement. The agreement entails the provision of Apvision’s Shariah Compliant Capital Market Financing Software to support Dawood Bank’s Islamic CFS operations. Nikolaus Rafique discussing Dawood Islamic Bank’s future plans said “One of our major strengths lies in Shariah compliant and customer friendly innovation of Islamic products and services. Since, none of the Islamic banks in the region is offering Islamic CFS facilities, there is a vast untapped segment of those seeking Shariah-compliant financing to invest in the capital market. Dawood Islamic Bank will be the first to offer real-time Islamic CFS facility to clients in the stock market through corporate brokers.” Apvision is the only company that has come up with a completely Shariah compliant financing system for equity trading.

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