The National Institute of Banking and Finance (NIBAF), a premier training arm of the State Bank of Pakistan (SBP), has successfully conducted the Islamic Banking Certification Program (IBCC–74) for officers of Bank Alfalah. The two-day session, held from October 3 to 4, 2025, took place at the Bank Alfalah Learning Center in Karachi. The initiative forms part of the ongoing efforts to equip banking professionals with specialized skills and knowledge required to navigate Pakistan’s expanding Islamic finance landscape.
The certification program was delivered in a face-to-face format and featured renowned trainers, including Mr. Salman Ghaffar and Mufti Ehsan Waqar. Both experts brought extensive experience in Islamic banking operations, financial products, and Shariah-compliant practices, providing participants with practical insights into the core concepts and operational frameworks that underpin the Islamic financial system.
The two-day training focused on enhancing the participants’ comprehension of Islamic banking principles such as risk-sharing, ethical investment, and interest-free financing. The course content covered key Islamic modes of financing, including Murabaha, Ijarah, Mudarabah, and Musharakah, along with the practical challenges faced by modern financial institutions in implementing these models. Participants were also trained on the regulatory and compliance frameworks established by the State Bank of Pakistan for Islamic banks and windows, helping them align operational practices with national and international standards.
NIBAF’s Islamic Banking Certification Program is designed to build capacity among banking professionals to strengthen Pakistan’s Islamic financial ecosystem. Over the years, the institute has been instrumental in producing a skilled workforce capable of contributing to the industry’s growth and ensuring that Islamic banking operates with authenticity, efficiency, and transparency. The IBCC–74 session for Bank Alfalah reflects the shared commitment of NIBAF and Bank Alfalah toward promoting Shariah-compliant banking practices and advancing financial inclusion through ethical finance.
Officials at NIBAF highlighted that the Islamic banking industry in Pakistan has witnessed remarkable progress over the past decade, now accounting for nearly 25 percent of the country’s overall banking assets. As the demand for Islamic banking services continues to rise, it has become increasingly vital to train and certify professionals who can uphold Shariah standards and ensure operational excellence across all service channels.
Bank Alfalah, one of Pakistan’s leading financial institutions, continues to expand its Islamic banking footprint across the country. The collaboration with NIBAF demonstrates the bank’s commitment to professional development and to aligning its human resource strategy with the evolving needs of the financial services industry. Participants expressed appreciation for the training, noting that it deepened their understanding of Islamic finance products and enhanced their ability to serve customers seeking ethical and Shariah-compliant solutions.
This certification program not only contributes to workforce development but also supports the State Bank of Pakistan’s broader vision of transitioning the financial sector toward a fully Islamic banking framework by 2027, in accordance with the directives of the Federal Shariat Court.
By facilitating continuous learning and professional certification, NIBAF plays a critical role in building an inclusive, stable, and compliant Islamic banking ecosystem in Pakistan.
Follow the PakBanker Whatsapp Channel for updated across Pakistan’s banking ecosystem.