Page 5 - NIBAF-Training Matters July-September 2020

Training Matters!

Islamic Banking

As witnessed over the recent years, Islamic banking has great po- abreast with the latest developments in the Islamic Banking arena.
tential and growth trajectory in the country. This warrants the NIBAF has already upholding MoUs with the prestigious organi-
increased demand for qualified & trained Islamic banking profes- zations of the world of Islamic Banking and Finance like AAOI-
sionals day by day. SBP is also making efforts to develop trained FI, INCIEF, IRTI etc., the cooperation with these organizations is
and qualified Islamic Bankers for the healthy growth of IB indus- increasing day by day. NIBAF is also planning PGD programs in
try in Pakistan. NIBAF offers variety of programs from Awareness collaboration with some universities.
to Advance level courses / training programs for the banks to help Keeping in view the effects of COVID-19, the focus has also
them equip their staff and officers with Islamic knowledge and up- changed towards offering on-line training programs for the benefit
dated practices. NIBAF also has specialty of offering customized of the Islamic Bankers. A number of programs are under prepara-
training programs keeping in view the need of the specific group. tions / discussions with professionals in the area of Islamic Bank-
The exclusive programs for members of BoD, members of Shariah ing & Finance at international level.
Board, Shariah Scholars, and executives of the Islamic Banks are
a few examples. Some special programs were also arranged for
the benefit of Ministry of Finance and FBR officers to keep them

Virtual Live Session with Prof. Dr. Mohamad Akram Laldin on
“The impact of covid-19 on Islamic

Finance: Selected Shariah Issues”

The Covid-19 pandemic has been testing Academy for Islamic Finance and is a pro- that, at the moment there is greater need for
the agility and adaptability of our systems, fessor at International Center for Education social uplift programs, Islamic finance in-
policies and longstanding theories. The in Islamic Finance, Malaysia. Dr. Akram stuments like sadaqah, zakat, awqaf etc. be
Islamic banking industry being a signif- is also member of various councils and utilised for this purpose. Islamic Financial
icant part of the global economy has not forums, including Bank Negara Malaysia industry should therefore align the princi-
remained immune to the outbreak. To Advisory Council, AAOIFI’s Education pals of Islamic finance and sustainable and
evaluate feasible options for steering the Board and various Shariah Committees of responsible investment (SRI) to steer econ-
industry through these crises, National In- Islamic banks and other institutions. omies through the adverse effects of the
stitute of Banking and Finance (the training The webinar was attended by the SBP Sha- pandemic. He also highlighted that waqf,
arm of SBP) took an initiative to hold an riah Committee members, officers/execu- which has historically held an important
international webinar to address selected tives of State Bank of Pakistan, Senior Is- place in Islamic finance, should be revived
Shariah issues faced by the Islamic bank- lamic bankers, Shariah Board members of to provide longer-term financing. He dis-
ing industry. The inspiration was also a re- Islamic banks and academics. Senior man- cussed Shariah issues, like liquidity and
flection of SBP’s commitment and desire to agement of SBP and NIBAF also joined in legal rulings regarding relief provided spe-
bring all economic activities of the country the interactive session. cifically during the pandemic period. Dr.
in accordance with the directives of Quran While speaking on the occasion, Dr. Akram Akram responded to questions raised by
and Sunnah, as required under the constitu- Laldin highlighted the Covid-19 impact on the participants during the Q&A session.
tion of Islamic Republic of Pakistan. the global economy and measures taken by All the participants appreciated the discus-
An international webinar was arranged in the countries across the world, especially sions by Dr. Laldin and acknowledged the
collaboration with ISRA-Malysia, SBP, Asian economies to address the pandemic. efforts of SBP and NIBAF for arranging a
and Ripah International University to host He focused particularly on support mea- webinar on this emergent scenario.
Prof. Dr. Mohamed Akram Laldin share sures like wage subsidies, direct assistance The session was streamed live on NIBAF’s
his views on the matter. Dr. Laldin holds to households, aid for food, relief to avia- Official facebook page and can be viewed
a Ph.D in Principles of Islamic Jurispru- tion and tourism industries. He appreciated there.
dence from University of Edinburgh, Scot- that governments and regulators have un-
land. He is currently serving as Executive dertaken significant initiatives to facilitate
Director at International Shariah Research all segments of the economy. He proposed

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