The National Institute of Banking and Finance (NIBAF) Pakistan continued its momentum on June 17, 2025, with the second day of its flagship “Islamic Banking Professional Development Program (IBPD-19)” at the Lahore campus. The training is part of a structured week-long series running from June 16 to June 20, 2025, designed to deepen the expertise of banking professionals in the domain of Islamic finance.
Day 2 of the program was led by Mufti Rafey Ashraf Usmani, a respected figure in Islamic jurisprudence and finance, who delivered an in-depth session on the foundational principles and practical applications of Islamic banking. With his dual expertise in Shariah and finance, Mufti Usmani provided clarity on how Islamic banking differs from conventional models, offering attendees both theoretical grounding and practical perspectives.
The session focused on critical themes such as the prohibition of riba (interest), the concept of risk-sharing in contracts, and the ethical underpinnings that distinguish Islamic finance from other banking systems. Participants were given real-world scenarios to analyze, helping bridge the gap between academic knowledge and operational implementation.
Approximately 60 professionals, representing various financial institutions and regulatory bodies, are attending the IBPD-19 program. These participants include mid-level managers, Shariah compliance officers, product developers, and policy professionals. The diversity in professional backgrounds has enabled dynamic discussions and knowledge sharing across functional roles, enriching the overall learning experience.
The ongoing training initiative is part of NIBAF’s broader goal to foster a deep-rooted understanding of Islamic banking in Pakistan’s financial sector. As Islamic finance continues to grow in both domestic and global markets, the demand for qualified professionals who can navigate its intricacies is also increasing. By offering programs such as IBPD-19, NIBAF is addressing this demand with a curriculum that balances Shariah authenticity with modern financial relevance.
Mufti Rafey Ashraf Usmani’s presence at the Lahore session added significant value to the program. He is widely recognized for his role in shaping Islamic banking standards in Pakistan and has been a key contributor to national Shariah advisory frameworks. His ability to communicate complex theological concepts in accessible language made the session particularly impactful for participants, many of whom are looking to lead Shariah-compliant product development or policy formulation in their respective organizations.
With three more days remaining in the training schedule, the program is expected to further delve into topics like Islamic risk management, Shariah audit processes, Sukuk structures, and regulatory considerations. The interactive nature of the program, paired with sessions by experienced trainers, underscores NIBAF’s commitment to producing well-rounded Islamic banking professionals.
As the Islamic banking segment continues to carve a stronger position within Pakistan’s financial ecosystem, programs like IBPD-19 will play a foundational role in shaping talent pipelines capable of sustaining and innovating within this growing field.