The Memorandum of Understanding (MoU), signed by the leadership of both institutions, appoints WFS as the digital infrastructure partner for transitioning DIB Pakistan’s personal finance shariah operations from a traditional framework to a structured, technology-enabled model.

Through this partnership, DIB will be able to serve customers more efficiently, swiftly, and in a well-controlled digital environment, while further strengthening its leadership in the Shariah-compliant personal finance space. 

It introduces a digitally executed process to strengthen sharia work flow mechanics, enhance transparency, and enable real-time monitoring with structured documentation.

Muhammad Ali Gulfaraz, CEO of DIB Pakistan, said, “This partnership reflects disciplined modernization in Islamic finance. By embedding technology within a rigorously supervised framework, we are strengthening governance, enhancing transparency, and reinforcing authentic shariah-based principles at scale.”

Dubai Islamic Bank is the first bank in the industry that offers Shariah-compliant Personal Finance to customers at the time when they require immediate liquidity for their dire needs such as medical emergencies, education expenses, marriage, and other essential life events.

To date, DIB has successfully served over 50,000 customers, disbursing approximately PKR 10 billion through Shariah-compliant personal finance solutions, ensuring customers have access to funds when they need them most, without compromising their faith-based financial principles.

This reflects DIB’s strong commitment to financial inclusion through ethical and responsible financing.

Noshad Minhas, CEO of WFS, added, “This collaboration demonstrates the maturity of Islamic Fintech-as-a-Service (IFaaS), enabling institutions to preserve robust governance while benefiting from digital precision and scalable compliance.”

According to DIB Pakistan, customers will benefit from faster processing, streamlined documentation, greater transactional visibility, and improved servicing through integrated digital systems. For the broader industry, the initiative sets a new digital precedent in Islamic personal finance, demonstrating that regulated institutions and fintech innovators can collaborate to modernize operations without compromising principled financial structuring.