Page 10 - NIBAF-Training Matters January - March 2022

Fundamentals of Islamic Banking Operations (FIBO)
is a 5-day certificate programs conducted for a mixed
audience of bankers, academia and ulema. Over the
duration of the programs, participants are apprised
about sources & objectives of Shariah, principles of
Islamic Economics and Shariah, basic concepts of Is-
lamic Banking, key prohibitions such as riba, gharar
and qimar, time value of money vs time value of as-
sets, comparison of conventional vs Islamic and Is-
lamic law of contract. The trainers also discuss vari-
ous aspects of Islamic banking operations, Shariah
compliant products based on Murabaha, Ijarah,
Musharaka, Mudaraba, Salam, Ististna, SBP Shariah
governance framework and Sukuk at length.

Four (4) iterations of the 5-day Fundamentals of Islamic Banking
Operations (FIBO) were conducted during the quarter

FIBO-65 was arranged in virtual mode during January 24-28. The trainers included Mufti Muhammad Abubakar Si-
1 rajuddin, Mufti Uzair Ashraf Usmani, Farid Khan and Arish Usmani. The program was attended by 43 participants
from various banks, and students/faculty members from Riphah University, Bahria University and Jamia Islamia- Ra-
walpindi.

FIBO-66 was arranged in virtual mode during February 14-18, 2022. The trainers included Mufti Syed Sabir Hussain,
2 Mufti Muhammad Abubakar Sirajuddin, Mufti Asad Gul and Ghulam Shabbir. The program was attended by 19 par-
ticipants from various banks and students/faculty members of GC University for Women-Sialkot, University of Sialkot
and University of Management & Technology-Sialkot.
FIBO-67 was arranged in virtual mode during March 7-11, 2022. The trainers included Mufti Irsahd Ahmad Aijaz, Imran

3 Yousaf Sheikh, Muhammad Usman Abbasi and Arish Usmani. The program was attended by 24 participants from
various banks and SBP BSC, students/faculty members of Minhaj University-Lahore and Bahria University-Lahore.

FIBO-68 was arranged in virtual mode during March 28-April 1, 2022. The trainers included Qazi Abdul Samad, Mufti
. 4 Uzair Ashraf Usmani and Ghulam Shabbir. The program was attended by 39 participants from various banks, SBP
and students/faculty members of Fatima Jinnah Women University-Rawalpindi.