A significant step toward elevating Pakistan’s position in the global Islamic finance landscape was taken on November 19, 2025, as INCEIF University, through ISRA International Consulting Sdn. Bhd., and the National Institute of Banking and Finance (NIBAF) Pakistan formally signed a Memorandum of Understanding. The ceremony, held at NIBAF Pakistan’s Karachi Campus, marked the beginning of a mutually reinforcing partnership designed to enhance professional standards, deepen financial expertise, and strengthen institutional capabilities within the country’s financial ecosystem. This collaboration reflects a strategic move to connect Pakistan’s training and research infrastructure with internationally recognized Islamic finance knowledge centers.
The signing brought together distinguished leaders from both institutions, underscoring the high-level significance of the alliance. Assoc Prof Dr Mohamed Eskandar Shah, CEO of ISRA Consulting, represented INCEIF University and reaffirmed the institution’s commitment to extending its global footprint in applied Islamic finance training. Alongside him, Ms. Lubna Farooq Malik, CEO of NIBAF Pakistan, emphasized the role of structured knowledge sharing and training interventions in shaping the future readiness of Pakistan’s financial workforce. Their participation signaled a shared vision that prioritizes quality, cross-border expertise, and sustainable sector development.
Also present at the event were key representatives from NIBAF Pakistan, including Ms. Khawlah Usman, Director of Marketing, Communication and Strategic Alliances, and Mr. Salim Rahimtoola, Additional Director of Learning Delivery. Their presence highlighted the institutional support behind this initiative and the active role NIBAF intends to play in expanding access to specialized learning pathways for financial professionals across the country. The partnership aims to turn academic insights into practical training modules tailored for Pakistan’s evolving financial sector.
At the core of the MoU is a commitment to strengthening capacity building at the Board of Directors level across both financial and corporate institutions. As governance responsibilities expand in response to regulatory expectations and industry transformation, this partnership seeks to prepare leadership teams with advanced Islamic finance insights that can support strategic decision-making and organizational growth. In addition, the collaboration opens pathways for structured knowledge exchange, allowing subject matter experts, educators, and industry practitioners to engage in shared research, specialized workshops, and targeted development programs.
Another emphasis of the agreement is the enhancement of academia–industry linkages. By aligning academic strengths with sector needs, the partnership aims to create relevant and impactful training resources that respond to current trends and future challenges in Islamic finance. This includes cross-border cooperation that encourages the flow of ideas, frameworks, and expertise between Malaysia and Pakistan, two countries recognized for their contributions to the modern Islamic finance industry.
The signing of this MoU sets the stage for deeper engagement, collaborative initiatives, and long-term programs that can contribute meaningfully to Pakistan’s financial sector transformation. It reflects a broader effort to consolidate international knowledge networks and introduce learning opportunities that shape forward-looking professionals equipped to navigate the dynamic landscape of Islamic finance.
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