Page 11 - NIBAF-Training Matters July - December 2022
P. 11

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.
           .
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