Islamabad: A three-day certification programme on the operational transition from conventional to Islamic finance was conducted jointly by the Riphah Centre of Islamic Business (RCIB), Riphah International University, and Meezan Bank Limited. The training, titled Operationalizing Islamic Finance Conversion: Practical Challenges & Solutions for Microfinance Institutions, brought together more than 26 participants from microfinance banks and institutions across the country.
Islamic finance certification focuses on conversion processes
According to organisers, the programme introduced participants to practical steps required for shifting microfinance operations to Islamic financing models. The sessions covered Shariah-compliant conversion, operational restructuring, and regulatory alignment for institutions planning or undergoing transition.
Industry practitioners deliver technical sessions
The three-day event was facilitated by academics and practitioners from RCIB and Meezan Bank. Speakers included Prof. Dr. Muhammad Ayub, Editor of the Journal of Islamic Finance Accountancy (JOIFA) and professor at RCIB.
From Meezan Bank, sessions were conducted by Shayan Ahmed Baig, Executive Vice President and Head of the Shariah Compliance Department; Kamran Akram Bakshi, Executive Vice President and Head of Priority Sector Inclusion Strategy; Rehan Waheed, Senior Vice President and Unit Head of Shariah Advisory Services; and Zulqarnain Haider, Vice President of Corporate Products & Structured Finance.
Mansoor Khan Jadoon, RCIB’s focal person for industrial liaison and training, also contributed to the facilitation.
Discussions highlight operational and regulatory challenges
Experts briefed participants on the operational issues microfinance institutions may face during conversion, including Shariah governance, product development, customer-protection requirements, and compliance with national policy directives on Islamic finance.
The programme also addressed regulatory expectations and the importance of aligning internal structures with Shariah-compliant frameworks.
Training reflects growing institutional focus on Islamic finance transition
Organisers noted that the certification is part of ongoing sector efforts to support microfinance institutions preparing for or implementing Islamic financing models as the industry undergoes structural change.
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