The National Institute of Banking and Finance (NIBAF) and Soneri Bank Limited have signed a Memorandum of Understanding (MoU) to advance professional capacity building in Islamic banking. The agreement, formalized on September 15, 2025, underscores both institutions’ shared commitment to developing structured training programs that will strengthen the expertise of Soneri Bank employees in Shariah-compliant financial services.
The MoU was signed by Ms. Lubna Farooq Malik, Chief Executive Officer of NIBAF Pakistan, and Mr. Muhtashim Ahmad Ashai, President and Chief Executive Officer of Soneri Bank Limited. The signing ceremony was attended by senior executives from both organizations, reflecting the importance of this collaboration for the broader financial sector.
Key representatives at the event included Mr. Muhammad Merajuddin Ahmed, Head of HR, Legal and General Services at Soneri Bank, and Mr. Syed Naveed Ul Zafar, Head of Learning and Development at Soneri Bank. From NIBAF’s side, Ms. Khawlah Usman, Director of Marketing, Communication and Strategic Alliances, and Mr. Imran Khalid, Regional Head of Marketing, Communication and Strategic Alliances, were also present. Their participation highlighted the strong leadership support for this initiative and its potential to impact workforce development within Islamic banking.
The agreement establishes a framework under which NIBAF will deliver specialized training programs tailored to the requirements of Soneri Bank employees. These programs are designed to deepen knowledge of Islamic banking principles, regulatory compliance, product innovation, and operational excellence in line with global best practices. Through these initiatives, employees will gain the skills needed to navigate the expanding Shariah-compliant finance landscape, which has become a cornerstone of Pakistan’s banking industry.
Speaking at the occasion, both institutions emphasized the strategic importance of investing in human capital to support the growth of Islamic banking. With demand for Shariah-compliant financial services continuing to rise, banks are under increasing pressure to equip their workforce with the necessary skills and expertise to meet customer needs while ensuring strict adherence to Shariah principles. The collaboration between NIBAF and Soneri Bank is expected to bridge skill gaps, promote innovation, and strengthen the overall ecosystem for Islamic finance in Pakistan.
NIBAF has played a central role in advancing financial sector training, offering programs that cover a wide range of disciplines from conventional banking to emerging fintech. Its capacity-building initiatives in Islamic finance are particularly significant, as they directly support the State Bank of Pakistan’s long-term strategy to expand the share of Islamic banking in the national financial system. By partnering with Soneri Bank, NIBAF continues its mission of empowering banking professionals with the technical expertise and ethical foundations required in a rapidly changing financial landscape.
For Soneri Bank, the MoU represents a step forward in enhancing employee development and ensuring that its workforce remains at the forefront of industry knowledge. The partnership also signals the bank’s dedication to aligning with international standards in Islamic finance and delivering value-driven services to its customers.
This collaboration is expected to generate long-term benefits for both organizations, while contributing to the sustainable growth of Pakistan’s financial sector. It highlights the increasing recognition that professional training and skill development are essential to building a resilient and future-ready banking industry.
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