Page 11 - NIBAF-Training Matters July - December 2022

The rapidly expanding Islamic
banking industry has created
opportunities to design programs
focusing on different aspects of
Islamic banking from conceptual
underpinnings of the Islamic
economic system to shariah
compliant islamic banking
products, learnings from other
country’s experiences, innovations
and new shariah compliance
product development, resolution of
shariah compliant issues and
operation challenges in basic bank
operations. The islamic banking
industry’s requirements in terms of Islamic Banking Certificate Course is the flagship training program of NIBAF which
availability of qualified & trained aims to provide a platform for Islamic finance professionals to develop their insights
Islamic bankers/professionals with on the concepts and applications of Islamic banking and Shariah Principles and
clear insights & concepts for methodologies with a practical perspective. The fifty-third iteration of the program
implementing Islamic Banking was conducted from August 15-September 6, 2022 at NIBAF-Lahore with 22
based on Shariah Principles and participants from different banks. As per practice, leading Shariah experts and
methodologies has also increased market practitioners were are invited to share their expertise with participants and
manifold. While appreciating this extensive discussions were issues and implementation challenges. Multiple trainers
requirement as well as SBP vision from the market and SBP discussed important topics in 16 modules comprising
to promote and support Islamic areas including SBP Regulatory Framework and its Role in the Development of
banking to become a sizeable Islamic Banking in Pakistan, principles of Islamic Economics and Shariah, concepts
portfolio in the national financial of Riba, Gharar, Gambling, Qard/Loan, comparison of Islamic and Conventional
system, NIBAF has designed Banking, Islamic Law of Contract. asset & liability side Islamic banking products
various need specific courses for currently employed by Islamic banks in Pakistan documentation and calculation of
capacity building of the domestic all Asset Products and related risks and standards, Working and Principles of
as well as foreign islamic banking Deposit Products and Profit Distribution, Islamic Capital Market Products, Risk
industry. NIBAF has also joined Management, Internal Shariah Controls / Audit, AAOIFI Standards on Accounting
hands with various international Treatment Adapted in Pakistan, Takaful, Trade Finance IB LC, Import Murabaha and
bodies including AAOIFI overview of SBP Islamic Export Refinance schemes.
(Accounting and Auditing
Organization for Islamic Financial The participants were very appreciative of the contents, methodologies
Institutions), Bahrain Institute of adopted for effective delivery of the content and the expertise of
Banking and Finance (BIBF), CEIF the engaged trainers. As per format of the program, daily quizzes
IMSciences, INCEIF and many were conducted along with a comprehensive exam to determine
other renowned institutions both to eligibility of the certificate which although challenging for
develop new programs participants is also effective for knowledge retention.
/certification courses and provide
providing testing/assessment
services for them. Details of some
of the important programs
conducted over H1FY23 is
provided.
.