The National Institute of Banking and Finance (NIBAF) Pakistan successfully organized a one-day customized training program on “Trade-Based Money Laundering (TBML)” for Bank Alfalah Limited (BAFL) professionals, highlighting critical strategies to detect, prevent, and mitigate financial crimes within banking operations. The program took place on November 8, 2025, at the BAFL Learning Center in Karachi and attracted 37 participants from the bank’s operational and compliance teams.
Mr. Saleem Sheikh, Joint Director of the Exchange Policy Department (EPD) at the State Bank of Pakistan, served as the program’s trainer. Leveraging his extensive expertise in financial regulations and anti-money laundering frameworks, Mr. Sheikh provided an in-depth overview of TBML risks and the evolving regulatory landscape affecting banks and financial institutions in Pakistan.
Trade-Based Money Laundering involves the manipulation of trade transactions to move illicit funds across borders, often bypassing traditional detection mechanisms. During the session, participants explored the various methods criminals use, common red flags, and the latest international and domestic regulatory requirements designed to counter such activities. Mr. Sheikh emphasized the importance of robust compliance frameworks, proactive monitoring, and the integration of technology-driven solutions to safeguard financial institutions from potential TBML threats.
The training included case studies and real-life scenarios to enhance practical understanding. Participants learned how to identify suspicious transactions, perform due diligence on trade partners, and implement effective risk-based measures. The session also focused on how financial institutions can align their internal policies with State Bank of Pakistan directives and international anti-money laundering (AML) standards, ensuring regulatory compliance while maintaining operational efficiency.
In addition to regulatory compliance, the program addressed the strategic value of TBML awareness in preserving institutional integrity. Participants gained insights into strengthening internal controls, enhancing audit mechanisms, and fostering a culture of vigilance within their organizations. This knowledge is especially pertinent in Pakistan’s evolving financial landscape, where digital trade transactions and cross-border remittances are becoming increasingly complex and susceptible to misuse.
Shahid Ali Habib, a senior compliance officer at Bank Alfalah, remarked on the program’s relevance: “Understanding TBML is critical for protecting both our institution and our clients. The session with Mr. Sheikh provided actionable strategies that will enhance our monitoring and risk assessment processes.”
By conducting such specialized training programs, NIBAF Pakistan continues to play a pivotal role in equipping banking professionals with the knowledge and skills needed to navigate regulatory challenges, implement robust AML practices, and strengthen the overall resilience of the financial sector against illicit financial activities.
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