The National Institute of Banking and Finance (NIBAF) Pakistan successfully hosted a two-day focused training program for Shariah scholars at its Karachi campus on 1–2 October 2025. The initiative aimed to enhance the professional knowledge and capacity of scholars in addressing the rapidly evolving needs of Pakistan’s financial sector.
The training was led by Mufti Zahid Siraj, a distinguished expert in Islamic finance, who shared practical insights and knowledge critical to modern banking and financial practices aligned with Shariah principles. Participants included Shariah scholars from various Madaris across the country, who engaged in a comprehensive face-to-face learning environment.
According to NIBAF officials, the program was designed to bridge the gap between traditional Shariah knowledge and the practical requirements of contemporary financial institutions. It focused on equipping scholars with tools and understanding necessary for overseeing Shariah-compliant products, resolving complex issues in Islamic finance, and supporting the industry’s ongoing digital transformation.
During the two-day workshop, participants explored topics including risk management in Shariah-compliant banking, regulatory frameworks, product structuring, and emerging trends in Islamic fintech. Emphasis was placed on practical applications, enabling scholars to provide more effective guidance to banks, financial institutions, and fintech startups offering Shariah-compliant services.
The program also addressed the growing intersection of technology and Islamic finance, particularly as digital banking platforms, mobile wallets, and online investment products gain traction in Pakistan. Scholars were trained to understand how technological innovations can be aligned with Shariah principles while ensuring compliance, transparency, and customer protection.
Participants expressed appreciation for the interactive sessions and the opportunity to engage directly with Mufti Zahid Siraj. Many highlighted that the insights gained would help them offer more informed guidance to institutions, ensuring that Shariah-compliant financial products remain both ethical and commercially viable in a modern financial ecosystem.
NIBAF’s initiative reflects the institution’s broader commitment to capacity building and professional development within Pakistan’s financial sector. By providing specialized training for Shariah scholars, the institute seeks to strengthen the quality of oversight and advisory services, promoting trust and stability in Islamic financial products.
Experts note that as Pakistan’s Islamic banking sector continues to expand, programs like this are vital in developing human capital capable of supporting product innovation, risk management, and regulatory compliance. The integration of scholarly expertise with practical financial knowledge ensures that the sector can meet the needs of an increasingly sophisticated and digitally connected market.
This capacity-building initiative is expected to contribute significantly to Pakistan’s financial ecosystem, fostering collaboration between scholars, regulators, and financial institutions, and supporting the nation’s long-term vision for an inclusive, Shariah-compliant, and technologically advanced financial sector.
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