The training was expertly delivered by Syed M. Taqqi Shah, a recognized authority in the domain of financial crime and trade-based money laundering. With increasing scrutiny on financial transactions and rising global compliance standards, the workshop aimed to equip banking professionals with the necessary tools, frameworks, and awareness to detect and prevent financial crimes that occur through trade-based activities.
Trade finance remains a critical area in international and domestic banking, but it is also one of the most vulnerable to illicit financial flows. From over-invoicing and under-invoicing to fictitious transactions and dual-use goods, trade-based money laundering is a persistent threat to financial integrity. Through this training session, NIBAF addressed this complex challenge by offering practical insights and case studies on real-world scenarios.
Participants were given an in-depth understanding of how criminals exploit trade mechanisms to launder money and bypass regulatory frameworks. The training covered key topics such as red flag indicators, risk assessment tools, due diligence procedures, and the role of trade finance officers in identifying suspicious patterns. Mr. Taqqi Shah emphasized the importance of aligning internal controls with international anti-money laundering (AML) and combating financing of terrorism (CFT) regulations such as those mandated by FATF (Financial Action Task Force).
The session was highly interactive, encouraging dialogue between the trainer and attendees. This approach enabled participants to discuss challenges they face in their institutions and explore actionable strategies to mitigate risks. The feedback received was overwhelmingly positive, with many attendees praising the relevance of the content and the expertise of the trainer.
NIBAF Pakistan, as the dedicated training arm of the State Bank of Pakistan, has consistently played a pivotal role in building capacity across the financial sector. This latest program reflects NIBAF’s ongoing commitment to ensuring that the banking sector is prepared to meet global compliance standards and protect the financial system from abuse.
The choice of Sialkot as the venue highlights the growing need to decentralize capacity-building efforts and ensure that knowledge-sharing opportunities reach banking professionals across all regions—not just major metropolitan centers. By hosting the session at SBP BSC Sialkot, NIBAF ensured accessibility and encouraged regional commercial banks to prioritize AML/CFT training.
As financial crime techniques become more sophisticated, the need for targeted, high-impact training programs has never been greater. NIBAF’s initiative underscores the critical role that education and vigilance play in safeguarding the integrity of Pakistan’s financial ecosystem.
Looking ahead, NIBAF plans to expand its training offerings across more cities and cover additional topics, including cybersecurity risks in banking, digital fraud, and regulatory technology (RegTech), further supporting the modernization and resilience of Pakistan’s financial sector.