IslamicFinance.de

Ahmed Shuja Kidwai has been appointed as the new CEO of Al Baraka Bank (Pakistan). Kidwai replaces Shafqaat Ahmed, who led the bank for 25 years. Al Baraka Chairman Khalid Rashid Al Zayani thanked Shafqaat wishing him well in his future life and welcomed Ahmed Shuja Kidwai as the new Chief Executive Officer of the bank. Ahmed Shuja Kidwai has a diversified international banking experience of over forty years, he played a pivotal role in consolidating and establishing the bank's position especially in Karachi.

Inspite of the extraordinary potential of the country, financial institutions in Pakistan are still not taking Islamic micro financing seriously.
According to Al Baraka Bank Chief Operating Officer Ahmed Shuja Kidwai, Islamic micro finance is notably important for Pakistan because it’s a developing economy and has a huge untapped market. He added that he was one of those managers who believe in learning the fundamentals of a market and analyzing how to make it into a success.
He gave as examples the following countries: Italy, Iran, India and Malaysia, which have grown their industries through micro financing in just 10-15 years.