In a significant step toward fostering financial inclusion and promoting Shariah-compliant banking practices, the National Institute of Banking and Finance (NIBAF) Pakistan successfully conducted a three-day specialized training program titled “Microfinance Based on Islamic Principles and Their Application in Developing Microfinance Products.” The program was held from June 18 to 20, 2025, at NIBAF’s Islamabad Campus and brought together professionals from various financial institutions interested in expanding their expertise in Islamic microfinance.
The training was facilitated by Mr. Waqar Ahmed and Mr. Hassan Warraich, both of whom are well-regarded experts in Islamic finance, microfinance frameworks, and financial product development. Their combined academic depth and hands-on experience provided participants with a comprehensive view of the structure, application, and innovation within the domain of Islamic microfinance.
This program was structured to bridge the gap between traditional microfinance methods and Islamic financial ethics, focusing on how financial institutions can develop inclusive, Shariah-compliant microfinance products tailored to the socio-economic realities of Pakistan. The training explored foundational Islamic financial principles such as Mudarabah, Murabaha, Musharakah, and Qard Hasan, as well as their practical use in designing sustainable and risk-sensitive microfinance solutions.
Over the course of three days, attendees engaged in a range of interactive lectures, real-world case studies, and product design exercises. The sessions emphasized the importance of aligning financial outreach strategies with religious sensitivities and ethical banking models that are gaining traction among underserved communities in Pakistan.
Mr. Waqar Ahmed highlighted that Islamic microfinance has a unique potential to address poverty through asset-backed, non-interest-based mechanisms that encourage entrepreneurship while promoting financial discipline. Meanwhile, Mr. Hassan Warraich underscored the relevance of integrating Islamic values into scalable financial tools that can be adopted by microfinance institutions, rural banks, and fintech startups serving the unbanked population.
Participants were guided through product development processes that take into account both regulatory compliance and local community needs. The training also featured discussions on the challenges of implementing Islamic microfinance in mainstream banking operations, including legal constraints, customer awareness, and operational viability.
The program reinforced NIBAF’s commitment to advancing professional knowledge in emerging financial disciplines and creating a learning environment that supports innovation, ethical banking, and institutional capacity-building. By hosting this training, NIBAF continues to position itself at the forefront of thought leadership in Islamic financial education and inclusive economic development.
As the demand for Shariah-compliant products grows, particularly among micro-entrepreneurs and small-scale borrowers, such targeted training programs play a crucial role in expanding the operational capabilities of banks, microfinance providers, and non-bank financial institutions across Pakistan.