The National Institute of Banking and Finance (NIBAF), a subsidiary of the State Bank of Pakistan, has successfully concluded the Islamic Finance Professional Program (IFPP–5) at its Islamabad campus. The two-week program, held from September 22 to October 3, 2025, brought together officers from the State Bank of Pakistan Banking Services Corporation (SBP-BSC) for an intensive learning experience designed to strengthen their command over Islamic financial principles and practices.
The program, conducted in a face-to-face format, was led by an esteemed panel of trainers with deep expertise in Islamic banking, Shariah-compliant finance, and regulatory frameworks. The comprehensive sessions provided participants with advanced insights into the workings of Islamic finance, focusing on its principles, products, operational structures, and compliance requirements. The training was aimed at building institutional capacity and preparing financial professionals to effectively contribute to Pakistan’s growing Islamic banking sector.
Over the course of the program, participants explored key Islamic finance concepts such as risk-sharing, ethical financing, and interest-free transactions. They studied the major Islamic financing modes, including Murabaha, Musharakah, Mudarabah, Ijarah, and Sukuk, and discussed how these models differ fundamentally from conventional banking systems. The trainers emphasized the importance of integrating Shariah governance and transparency into the financial sector, ensuring that Islamic finance remains both credible and sustainable in the modern banking landscape.
The IFPP–5 also provided a platform for participants to examine the role of regulatory bodies such as the State Bank of Pakistan (SBP) in shaping the Islamic banking industry. The discussions highlighted SBP’s continued efforts to create a supportive regulatory environment that facilitates the expansion of Islamic finance across the country while maintaining financial stability and consumer protection. Participants engaged in case studies and interactive exercises to better understand the operational aspects of Islamic financial institutions and the challenges they face in an evolving digital economy.
NIBAF’s Islamic Finance Professional Program has become one of the institute’s key capacity-building initiatives, dedicated to developing professionals who can lead the country’s transition toward a more inclusive and Shariah-compliant financial ecosystem. Through such specialized programs, NIBAF continues to play a central role in strengthening the professional foundation of the Islamic banking sector, which now accounts for nearly a quarter of Pakistan’s total banking assets.
The growing demand for Islamic financial products has made it increasingly important for financial institutions and regulators alike to build expertise in this field. By training SBP-BSC officers through IFPP–5, NIBAF is supporting the State Bank of Pakistan’s strategic goal of achieving a full transition to an Islamic financial system by 2027, as directed by the Federal Shariat Court.
Participants expressed appreciation for the program’s practical and research-driven approach, noting that it equipped them with the necessary tools to apply Islamic finance principles in real-world scenarios. The program also encouraged collaboration and knowledge exchange between participants, fostering a stronger community of professionals committed to advancing Islamic finance in Pakistan.
The successful completion of the Islamic Finance Professional Program (IFPP–5) underscores NIBAF’s ongoing dedication to professional development, industry excellence, and financial inclusion through Islamic banking. As Pakistan continues to strengthen its position as a regional hub for Shariah-compliant finance, such initiatives will remain crucial to building capacity, trust, and innovation across the financial sector.
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