The National Institute of Banking and Finance (NIBAF) successfully completed Module 1 of the Islamic Banking Certificate Course (IBCC-73) from July 21 to 26, 2025, at its Karachi campus. The program brought together professionals from the State Bank of Pakistan and various commercial banks, as part of a growing effort to build technical and regulatory capacity in the Islamic finance sector across the country.
Led by a panel of expert trainers, this foundational module served as a critical learning platform for participants to develop a deep understanding of Shariah-compliant finance. The course explored the key structures of Islamic financial instruments, the guiding principles of Islamic commercial jurisprudence, and the regulatory landscape shaping the industry in Pakistan.
Over the six-day program, participants engaged in an extensive curriculum covering essential concepts in Islamic banking, such as the prohibition of Riba (interest), risk-sharing models, and profit-loss arrangements. Discussions focused on the design and application of various Islamic financial products including Murabaha, Mudarabah, Ijarah, Musharakah, and Sukuk. The module also provided detailed insights into governance frameworks that ensure compliance with Islamic legal standards and central banking regulations.
The training encouraged active dialogue among professionals from both the central and commercial banking sectors, promoting collaborative learning and a shared commitment to advancing ethical financial practices. With the growing global relevance of Islamic finance, the course underscored the need for skilled professionals who can drive innovation and uphold Shariah compliance in an evolving economic environment.
As a flagship initiative by NIBAF, the Islamic Banking Certificate Course has become a strategic tool in developing a workforce equipped with both theoretical knowledge and practical skills. It supports national objectives of financial inclusion, ethical finance, and diversified product offerings that align with Islamic principles. The successful completion of Module 1 also reflects NIBAF’s dedication to continuous professional development and institutional excellence.
Pakistan has witnessed a steady rise in the demand for Islamic banking services, supported by regulatory encouragement and public preference for interest-free financial alternatives. With this in mind, NIBAF’s ongoing certification programs serve not just to fill knowledge gaps but also to elevate standards across the Islamic finance ecosystem.
Participants left the program with a clear understanding of how to apply Islamic financial concepts within their operational roles while ensuring adherence to central banking regulations and Shariah governance. The training also emphasized the importance of transparency, accountability, and customer trust in the delivery of Islamic financial services.
Future modules of IBCC-73 will continue to build upon this foundation, offering more advanced technical training and specialized tracks in areas such as risk management, product development, and Islamic capital markets. By advancing Islamic finance literacy among banking professionals, NIBAF is playing a key role in shaping a more resilient, inclusive, and compliant financial system in Pakistan.