The National Institute of Banking and Finance (NIBAF), Pakistan’s premier banking training and development institution, successfully conducted a specialized three-day training program titled “Islamic Finance Principles & Operations Program (IFPOP)” for officers of the National Bank of Pakistan (NBP). The training took place from July 14 to 16, 2025, at the NBP Staff College in Islamabad.
The program was designed to deepen the understanding of Islamic finance fundamentals among mid and senior-level banking professionals. Delivered by a panel of seasoned trainers with expertise in Islamic banking and Shariah compliance, IFPOP focused on both theoretical frameworks and practical implementation of Islamic banking operations.
Over the course of three days, participants were taken through intensive modules covering core Islamic finance concepts including the principles of risk-sharing, prohibition of interest (riba), asset-backed financing, and ethical investments. The training also explored the operational mechanisms behind major Shariah-compliant financial instruments such as Mudarabah, Musharakah, Ijarah, and Murabaha. Attendees gained insights into the structuring, execution, and compliance requirements for these products, making the sessions highly relevant to the evolving demands of the Islamic banking sector.
The initiative reflects a broader strategic emphasis by both NIBAF and NBP on equipping banking professionals with specialized knowledge in Islamic finance, a segment that continues to grow steadily in Pakistan and globally. By bridging knowledge gaps and aligning financial services with religious and ethical mandates, programs like IFPOP are intended to support the industry’s transition towards inclusive and Shariah-compliant banking models.
NIBAF, being the training arm of the State Bank of Pakistan (SBP), has been instrumental in driving workforce development initiatives across the banking and finance landscape of the country. Through targeted training interventions such as IFPOP, it aims to build a pipeline of professionals capable of delivering Islamic financial services in accordance with international best practices and local regulatory standards.
The program also served as a platform for interbank dialogue and knowledge exchange. Participants had the opportunity to discuss challenges, case studies, and implementation issues in an interactive setting, encouraging peer learning and practical insights. Trainers emphasized not only the academic and jurisprudential dimensions of Islamic finance but also the real-world considerations for product development, risk management, and compliance within a conventional banking environment.
As Islamic banking continues to gain traction in Pakistan—accounting for over 20% of the banking industry’s total assets—the need for skilled personnel remains critical. Initiatives like IFPOP mark a step forward in preparing the human capital required to meet the growing demand for Shariah-compliant financial services and to reinforce the country’s position in the global Islamic finance ecosystem.