Page 9 - NIBAF-Training Matters July-September 2021

related to business such as Interest (Riba), Uncertainty (Gharar), Gambling (Qimar), Honesty and Fair Trade
(Ghishsh) and (Khilabah), Misleading marketing, spending in the Good Cause, hoarding [Ihtikaar], Buy

Back, Entitlement to profit on concept of risk were also discussed with the participants.

The trainer also discussed various types of saving deposits under Islamic banking, and elaborated a
comparison of Islamic and conventional current account through examples. Besides, the trainers explained
pool management with the help of examples and calculation for profit distribution.

2-days program on AAOIFI Key Shariah Standards was arranged at NIBAF Lahore. Mufti Muhammad

Muaz Ashraf conducted the program. The program was attended by 14 participants from various banks.
During the program, the trainer discussed key AAOIFI Shariah Standards with the participants through
PowerPoint presentations and text of the relevant standard, whenever required and also responded to their
queries. The participants praised this initiative of NIBAF and suggested a longer duration for such programs.

1-Day Program on Legal and Shariah Governance for IBIs was held on September 2 in virtual mode. Mr.
Muhammad Islam Ahmad, ex Sr. Joint Director, IBD conducted the program. The program was attended by
16 participants who found the program informative and some of them suggested to hold the program in face-

to-face mode. Besides, they also suggested additional areas to be covered in future iterations of the program.