Page 32 - NIBAF-Training Matters January-March 2021

Islamic Banking Operations (FIBO-54,55, and topics of Islamic Banking including Sukuk and
56). Ninety Five participants attended this five day Shariah Framework for Islamic banks in Pakistan. .
program from various banks, SBP-BSC, Islamia The participants were provided a comprehensive
University of Bahawalpur, Jamia Madina-ul-Ilm orientation/exposure about various aspects of
Bahawalpur, Jamia Nizam e Mustafa Bahawalpur Islamic banking operations, Shariah compliant
and Faizan e Madina, SZABIST Larkana, IBA Sukkur, products and SBP regulatory framework. The
Isra University Hyderabad, Jamia Islamia Ishtaul program also covered the essential information
Quran Hadith Larkana . Mufti Muaz Ashraf Usmani, about Islamic law of contract and various segments
Mr. Saarim Ghazi and Muhammad Islam Ahmad of Muamlat (financial activities).
(SBP) shared knowledge and experience on various

IBCC 48 Held at NIBAF Peshawar
th

The 48 iteration of the signature Islamic Banking
th
Certification Course (IBCC) was held from March 1 to
24, 2021 at NIBAF Peshawar Chapter. Despite higher
number of nominations, the course could only
accommodate 25 participants from different Islamic
banks due to the COVID SoPs and social distancing
measures. Seasoned trainers and professionals were
engaged to conduct sessions and answer practical
operational issues related questions of the participants.
Some of the sessions were convened online through
Zoom as well. Since it’s a certificate course so all
trainees had to appear in daily quizzes and one
comprehensive exam; participants achieving 65% and
above score are awarded certificates.

The certification program is structured, in consultation
with industry and regulators, such that the foundations of
Islamic Finance including objectives of Shariah, Riba,
types of Riba, Gharar, differences in Islamic and
conventional banking are reinforced. Following this
essentials of Islamic Contracts are introduced which
builds momentum for a thorough review of the various
modes of Islamic contracts and their calculations. The
course also introduces the participants to international
Islamic Standards (primarily of AAOIFI and IFSB); the
concept of governance with focus on shariah compliance,
risk management and relevant regulatory instructions
applicable in Pakistan. Participants are also taught
about the characteristics of Islamic Capital Markets,
Sukuk, Liquidity Management in IBIs, and Product
Development.

32