Page 8 - NIBAF-Training Matters July-September 2021

FIBO-60 was arranged in virtual mode during August 9-13, 2021. Mufti Abu Bakar Sirajuddin conducted Day
1-2 of the program whereas Day 3-4 were conducted by Qazi Abdul Samad. Day 5 of the program was

conducted by Farid Khan and Ghulam Shabbir. The program was attended by 50 participants including
officials of various banks and SBP BSC, Quetta officials.

During the 5-day FIBO program, the participants were apprised about Sources & Objectives of Shariah,

principles of Islamic Economics and Shariah, basic Concepts of Islamic Banking, key prohibition such Riba,
Gharar and Qimar. The participants were also apprised about the time value of money vs time value of assets
and a comparison of conventional vs Islamic banking was also made in this regard. Moreover, Islamic law of
contract was also discussed.
The trainers also discussed and
elaborated through examples

various aspects of Islamic
banking operations, Shariah
compliant products and SBP
Shariah governance framework. The

participants largely appreciated
program and delivery of the
trainers.

a. IBBO-10 was held in virtual mode during August 4-6, 2021. Muhammad Saarim Ghazi conducted

the program. The program was attended by 34 participants including various banks officials and
faculty members/students from COMSATS University Islamabad, Sahiwal Campus and
Government College University Faisalabad, Sahiwal Campus.
b. IBBO-11 was held during August 24-16, 2021 in virtual mode. Mufti Muhammad Abu Bakar
Sirajuddin conducted the program. The program was attended by 17 participants including various

banks officials and student’s/faculty members of Kotli University and University of AJK.

In the above programs, the trainers discussed about basic concepts and philosophy of Islamic economics
guidelines as well as the permissible and prohibited transactions under Shariah. The Shariah concepts