12th May 2025
Karachi
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IFN Pakistan Forum 2025
Introduction to 2025
Pakistan’s journey toward full Islamic finance integration is advancing rapidly, with milestones set for 2028. Backed by updated regulations and strategic partnerships, the country’s financial institutions are working to expand their Islamic banking footprint.
Pakistan’s Islamic finance sector is on a trajectory of significant growth, driven by progressive regulatory reforms, increased adoption of Shariah compliant standards and a mandate to transition to an interest-free financial system by 2028. The sector has also seen a steady rise in innovative offerings, with recent Sukuk issuances and a green energy fund highlighting the adaptability and forwardlooking vision of Pakistan’s Islamic finance industry.
It is against this backdrop, that the 10th IFN Pakistan Forum, supported by the State Bank of Pakistan and other key regulators, will gather the country’s elite to discuss and debate the important questions facing the Republic’s transition to becoming fully Islamic within just three years.
IFN Forums 2025
In 2025 we continue to uphold our commitment to organize and deliver bespoke IFN Forums globally in targeted key markets that require interaction and discussion among the industry’s leaders.
Our IFN Forums are diverse events which combine panel discussions, dialogues, private and targeted networking sessions. Our priority is to ensure that we deliver quality events while achieving the highest desired outcome in Islamic finance excellence.
IFN Forums allow you to engage with these markets by ensuring a captive audience and reaching out to local and global audiences.
All IFN Forums will be recorded and posted online within a week of the event.
Who should attend
- Brokerage Firms
- Consultancies
- Corporate & Investment Banks
- Custodians
- Family Offices
- Financial Service Providers
- Fund Managers
- Institutional Investors
- Insurance & Takaful Companies
- Law Firms
- Multi Family Offices
- Pension Fund Managers
- Private & Wealth Managers
- Private Equity Firms
- Rating Agencies
- Real Estate Investment Co's
- Regulators
- Risk Management Firms
- Shariah Advisory Firms
- Sovereign Wealth Funds
- Stock Exchanges
- Trade Finance Companies
- Trustees
- UHNW and HNW Individuals
- Venture Capital Firms
Below is the IFN Asia Forum 2024 Program as a sample
(The Pakistan Forum 2025 Agenda will be available soon)
9.00 – 9.05
Welcome Address
9.05 – 9.20
Keynote Address
9.20 – 9.30
Setting the Scene: Drivers of Regional Islamic Financial Services
9.30 – 10.40
The Maturing Role of Islamic Financial Services in Southeast Asia
What potential opportunities are on offer in supporting the transition of population dynamics in Southeast Asia, and what role should Islamic financial institutions play? How can Islamic finance be further deployed as a tool to reduce income and wealth inequality, and drive financial inclusion in the region? How are new technologies shaping strategy for the provision and distribution of Islamic financial services, and how should regulation evolve in response? How can Islamic financial institutions play a leadership role in the evolution of the Islamic economy and what does this mean in practice? We seek the views of a respected panel.
10.40 – 11.00
Coffee
11.00 – 11.55
Opportunity Knocks: Malaysia as an International Centre for Islamic Capital Markets
How can the performance and impact of Malaysian Islamic capital markets and Sukuk be further enhanced? How significant is the re-emergence of the regulatory capital Sukuk market for the region’s Islamic financial institutions? Can more be done to supply the market with high-quality liquid assets, and to what extent would this contribute to building a yield curve unique to Islamic issuers? How do we deploy Sukuk to further support banking and non-banking financial businesses? What are the potential opportunities offered by tokenization in Islamic capital markets? Finally, how can green and sustainability linked Sukuk and other innovations flourish?
11.55 – 13.00
Seismic Shift: Islamic Banking in Southeast Asia
How is Islamic banking advancing through the growth of Islamic fintechs and the utilization of technology? Where and how will the region’s new digital Islamic banks create competitive advantage, and how are incumbent Islamic banks responding? How is new technology improving data management, risk assessment, compliance and UI/UX for Islamic banks? How is digital transformation increasing efficiency through enhanced systems and processes in bank treasury and investment functions? Are Islamic banks facing challenges in terms of liquidity creation and liquidity risk management, and how can technology assist?
13.00 – 13.10
Presentation
13.10 – 14:10
Luncheon
14:10 – 15.00
Structuring and Applying Shariah Compliant Hedging and Risk Management Tools
What are corporates and financial institutions looking for from Islamic hedging tools? What exposures can realistically be managed and how do Islamic hedging tools fit into a wider risk management framework? What can and cannot be structured, and what are the most prominent principles hedging tools are based on? What is the Tahawwut Master Agreement and why is it important? How can hedging tools be used for specific purposes such as Islamic energy commodity derivative trades?
15.00 – 15.10
Presentation
15.10 – 16.00
The Strategic Development of Islamic Social Finance and the Halal Economy
Can we better utilize Islamic financial services in promoting the Halal economy and managing social finance funds? How can minorities and the disadvantaged be empowered through the application of Islamic finance and social welfare mechanisms such as Waqf, Zakat and Sadaqah? How do we enhance the role of Islamic finance in driving philanthropic initiatives in Malaysia? Where and how do social finance and the Halal economy overlap, and can we leverage further on this important symbiose? How are government and regulator-led initiatives helping Halal businesses transition to greener and more sustainable practices? We ask an expert panel.
16.00 – 16.10
Presentation: Anticipating and Managing Sustainability Related Trends in Islamic Finance
16.10 – 16.50
The Role of Shariah-Compliant Alternative Funding and Digital Assets
What services do market operators in the equity crowdfunding sector offer, and how is this evolving? How is ECF and peer-to-peer financing facilitating crucial funding for the SME sector, and how can ECF be used for impact, social and sustainable investing? What are opportunities and structures for early-stage Shariah compliant venture capital, and can the success of large global venture funds be emulated regionally? Finally, what does the development and evolution of digital assets such as digital currencies, tokens and new forms of crowdfunding mean for the Islamic financial services sector in Southeast Asia?
IFN Pakistan Forum 20219 Speakers
- Abdullah Ghaffar, Group Head – Corporate and Investment Banking, Al Baraka Bank (Pakistan)
- Ahmed Ali Siddiqui, Group Head – Shariah Compliance, Meezan Bank
- Ali Imran Khan, Head of Digital Banking and PMO, Meezan Bank
- Azeem Pirani, Deputy CEO, Pak-Qatar Takaful
- Farrukh Sabzwari, Commissioner, Specialized Companies Division, Securities and Exchange Commission of Pakistan (SECP)
- Ghulam Abbasi, Director, Islamic Banking Department, State Bank of Pakistan
- Haris Munawar, Head of Investment Banking, BankIslami Pakistan
- Dr Irum Saba, Program Director/Assistant Professor, Institute of Business Administration (IBA) Karachi
- Mian Allah Nawaz, Head – Window Takaful Operations, Adamjee Insurance Company
- Mohammad Raza, Group Head – Customer Support, Meezan Bank
- Muhammad Faisal Shaikh, Head of Islamic Banking, Faysal Bank
- Dr Muhammad Imran, Group Head – Islamic Banking, Bank Alfalah
- Muhammad Omair Farooqi, CFO and GH Operations, Pakistan Mortgage Refinance Company
- Raheel Iqbal, Managing Partner, Codebase Technologies
- Shoaib Malick, Cluster Head, North Collections and Recovery, United Bank
- Sohail Zubairi, Senior Advisor, Dubai Islamic Economy Development Centre (DIEDC)
- Tayyaba Rasheed, EVP – Head of Investment Banking Group, Faysal Bank
- Umair Ismail, Head of Operations, Takaful Pakistan
- Yavar Moini, Financial Sector Expert, World Bank Group
Advisory Board
Ahmed Ali Siddiqui
Senior Executive Vice President & Head Shariah Compliance, Meezan BankAhmed Ali Siddiqui is Senior Executive Vice-President and Head Shariah Compliance, Meezan Bank. Ahmed holds a Bachelor’s and Master’s degree in Business Administration from the Institute of Business Administration, Karachi. His areas of specialization include Islamic Finance and MIS. He has over 22 years of rich Islamic banking experience and is involved in pioneering work in the field of Islamic finance in Pakistan. His major areas of interest are Shariah compliant product development, Sovereign Sukuk and deal structuring, development of innovative solutions for retail, corporate and consumer banking, formulation of policy guidelines, Islamic banking training, Shariah audit, applicative research and Islamic financial advisory services. He is the Founding Director of IBA Centre for Excellence in Islamic Finance, an emerging global center for Islamic finance research, academic programs, professional training and industry interaction. He leads one of the largest research departments in the Islamic banking world with around 40 dedicated team members. He is also the Secretary for the Shariah Supervisory Board at Meezan Bank Limited. His previous assignments include the launching of Car Ijarah – Pakistan’s first Islamic car financing scheme and Easy Home – Pakistan’s first Islamic housing finance as Product Manager in Pakistan. Ahmed is also part of the joint financial advisors team to the Government of Pakistan for the issuance of local currency Sovereign Sukuk and Islamic financing transactions and has advised the government in structuring and issuance of Sukuk/Islamic transactions of over US$13 billion dollars. He also led the consortium of Islamic banks in Pakistan for the Issuance of 400 BN First and Second Pakistan Energy Sukuk issued by the Ministry of Energy, Government of Pakistan. Ahmed has served and is also a member of several task forces at the Central Bank level related to Islamic banking products, Islamic banking regulations, governance framework, accounting disclosures and adoption of AAOIFI Shariah standards. He is also actively involved in Islamic banking training activities and has conducted various training sessions, corporate workshops and seminars on different Islamic Banking topics. Ahmed is a frequent speaker on Islamic banking at the National Institute of Banking and Finance (State Bank of Pakistan), Export Promotion Bureau, LUMS and Center of Islamic Economics (CIE), Karachi and has conducted several specialized workshops in UAE, Bahrain, Malaysia, Australia and the UK.
Dr Irum Saba
Associate Professor - Department of Finance, School of Business Studies, IBA- Karachi
Muhammad Faisal Shaikh
Head, Shariah Compliance and Advisory, Faysal BankMuhammad Faisal Shaikh is the Head, Shariah Compliance & Advisory at Faysal Bank Limited. Faysal Bank Limited recently completed conversion of its entire conventional banking business into a full-fledged Islamic Bank. Islamic International Rating Agency (IIRA) recognized this conversion as ‘First of its scale’ conversion in the domain of Islamic Banking, globally. As Head of Islamic Banking at Faysal Bank Limited, he played key role in the conversion process and ensured smooth conversion of the bank’s business. A graduate of Institute of Business Administration (IBA), Karachi, he has almost 24 years of experience in the field of Shariah Structuring, Compliance and Product Development. Prior to joining Faysal Bank he was associated with BankIslami Pakistan Limited and Meezan Bank Limited as part of founding teams. He has been instrumental in development of various pioneering Islamic Corporate & Consumer Banking Products and Sukuks structures in Pakistan including Islamic Export Refinance Scheme of State Bank of Pakistan and Pakistan’s inaugural sovereign International Sukuk. He led the team which converted conventional assets and liabilities of KASB Bank Limited after its acquisition by BankIslami Pakistan Limited. Prior to this, his team structured acquisition and conversion of Citibank Pakistan’s conventional housing finance portfolio by BankIslami Pakistan Limited. He was part of Meezan Bank’s founding team and was an active member of the team responsible for conversion and merger of Pakistan operations of Societe Generale into Meezan Bank Limited. He also played an important role in development of pioneering Commercial Banking products under Islamic modes of Finance. Given his experience in Conversion process, SBP has nominated him as member of multiple Working Groups of Committee for Transformation of Conventional Banking into Islamic.
Dr Muhammad Imran Ashraf Usmani
Vice Chairman Shariah Supervisory Board, Meezan BankDr Muhammad Imran Ashraf Usmani graduated with specialisation in Islamic Fiqh (Islamic jurisprudence) from Jamia Darul-Uloom, Karachi, where he has been teaching Fiqh since 1990. He also holds an L.L.B and Ph.D. in Islamic finance. Dr. Imran Usmani is the Group Head and Vice Chairman of Shariah Supervisory board at Meezan Bank Ltd. He is also the Resident Sharia Board Member at Meezan Bank and is responsible for Research and Product Development of Islamic banking products, advisory for Sharia-compliant banking and supervision of Sharia Audit & Compliance. He is also the President and CEO of Usmani & Co. Pvt. Ltd that provides full suite of Islamic finance consultancy, Shariah advisory and related ancillary services to local and international clients across all legal jurisdictions and financial and non-financial sectors. Dr. Imran Usmani has been involved with the Government of Pakistan in various initiatives and is also a member of the Steering Committee and implementation committee for promotion of Islamic Banking since 2013.
Muhammad Shoaib Ibrahim
CEO, First Habib ModarabaMuhammad Shoaib Ibrahim is the CEO of First Habib Modaraba, a 30 year old entity that has successfully maintained its leading position within Modaraba sector of Pakistan. Under his leadership FHM has positioned itself in the Islamic financial market with a strong equity base, sound assets size and profitability. FHM holds a strong credit rating scale of AA+ in long term and A1+ in short term. Moreover, FHM has secured several awards/accolades from reputable bodies such as NBFI and Modaraba Association, ICAP and ICMAP, Management Association of Pakistan, and SAFA an apex body of SAARC during his tenor as CEO of FHM. With more than two decades’ experience in non-bank Islamic financial institutions and Modarabas, he is a senior expert on this topic in Pakistan. This experience has given him insight into the financial and technical aspects of the non-banking Islamic financial activities covering financial services, equity market and asset management. Mr. Shoaib holds a Master of Business Administration (MBA) in banking and finance from the Institute of Business Administration (IBA). He has also completed a Post Graduate Diploma (PGD) in Islamic Banking from the Centre of Islamic Economics (Darul Ulum), Karachi Pakistan.
Tayyaba Rasheed
Investment Specialist, Private Sector Operations Department, Asian Development BankTayyaba Rasheed is Investment Specialist, Private Sector Operations Department at Asian Development Bank. Previously, she held the position of executive vice-president/head of the Investment Banking Group at Faysal Bank. She is highly qualified with more than 20 years of diversified corporate and investment banking experience, and a proven successful career in investment banking, corporate banking and corporate finance with profound skills in project financing, infrastructure financing, Sukuk issuance, syndication, capital markets, credit risk and Islamic finance. She is a well-known corporate and investment banker with an exceptional track record of closing large-ticket complex deals and is focused on delivering results across the board. She has closed and led several key mandates in the infrastructure financing area, in particular the renewable energy space. She has worked in senior positions at CIBG NBP and Bank Alfalah where she started her career as a management trainee officer. Tayyaba holds an MBA from the Institute of Business Administration and is a CFA and FRM charter holder. She holds a junior associateship from the Institute of Bankers Pakistan. She successfully completed the National Institute of Banking and Finance certification program and underwent a thorough Islamic finance training program. She has also completed the Directors Training Program and is now a certified independent director. Tayyaba also serves as an independent board director on the boards of several listed companies.
Forum Partners
LEAD MEDIA PARTNERS
Islamic Finance news
Islamic Finance news (IFN) is the company’s principal publication. IFN is a digital, subscription-based publication available online and through smartphone and tablet applications. Published weekly, the journal provides exclusive and comprehensive coverage of the global Islamic financial markets through in-house analysis and expert external contributions; in addition to a daily news service, additional quarterly supplements and a variety of special annual issues.
Differentiated by trusted relationships across the industry since 2004, IFN is able to leverage an unrivalled network of contacts and connections to provide unparalleled insight into the issues affecting global Shariah compliant markets: along with in-house analysis, news, interviews, reports, industry and sector data, and much more.
With an archived website containing over 80,000 exclusive reports, the IFN portfolio also hosts a suite of proprietary tools including the industry’s largest interactive terminology glossary, a directory of over 9,000 global Islamic financial institutions and a portal to Islamic Banking Intelligence, the most comprehensive source of segmented Islamic banking financial data.
IFN Fintech
Fintech is one of the most exciting sectors of the global financial industry, breaking boundaries and challenging preconceptions in one of the shake-ups of the century. A new class of financial players is disrupting the status quo – and financial institutions must embrace this change or face being left behind as the financial landscape transforms beyond recognition.
But although fintech as a whole has been well-served by the media, the Islamic segment has so far made limited penetration on public consciousness – despite the enormous potential it represents for the industry. There is a clear chasm between the multitude of pioneering entrepreneurs, start-ups and fintech firms making waves in the Islamic space; and the interested investors, institutions and stakeholders keen to explore these opportunities.
Recognizing this information gap, IFN is delighted to introduce to you a bespoke multi-channel platform – IFN FinTech.
Comprised of four tranches, IFN FinTech is a one-stop-shop for industry knowledge, networking and communication – supported by our unrivaled global network, our strong social media platform and our trusted multimedia Islamic finance offering.
IFN Sustainable
IFN Sustainable, comprises a dedicated portal, weekly news alert, audio and video podcasts, interviews, data, exclusive reports, case studies, research, virtual roundtables, and hybrid forums. With a focus on the latest news and developments, IFN Sustainable is also be a pivotal platform for thought leadership and the launch of new products and services within the industry. IFN Sustainable also partners with some of the leading organizations associated with the Islamic and sustainable finance industry, providing holistic coverage.
IFN Investor
The Islamic investment industry is a fastgrowing and dynamic sector within the Islamic finance space, with a ballooning pool of assets under management, reflecting a rapidly increasing demand for Islamic investment products.
Yet this increased demand has not been matched by increased activity in the media space.
And, although IFN has been reporting on the Islamic investment market for almost 20-years, we noticed we could do more and decided to rectify this imbalance.
After extensive research and surveying of the global Islamic investor industry on what they would like to see, we have designed and built a one stop portal for all those involved or interested in the local, regional, and global Shariah compliant investment market.
Registration
The Previous IFN Pakistan Forum
IFN Pakistan Forum 2019
Favorable demographics and strong political will have supported Pakistan in becoming one of the most promising Islamic financial markets in the world.
Home to the second-largest Muslim population globally, the Pakistani government is committed to advancing its Shariah finance industry with effective regulations and measures, and has had considerable success building its industry from banking, funds, Sukuk and Takaful.
Shariah banking institutions have been registering steady expansion: as at the end of June 2018, Islamic banking assets were recorded at PKR2.48 trillion (US$18.54 billion), up 21.57% from PKR2.04 trillion (US$15.25 billion) as at the end of June 2017. Islamic banking deposits also realized an increase from PKR1.72 trillion (US$12.86 billion) as at the end of June 2017 to PKR2.03 trillion (US$15.18 billion) a year later. In terms of financing facilities, the diminishing Musharakah has been a favorite among providers and clients (33.7%) as at the end of June 2018, followed by Musharakah (20%).
The South Asian nation has also made its mark in the Sukuk landscape: under its Sukuk regulations, the sovereign has tapped the international market several times, most recently in the form of a US$1 billion facility issued in April 2019 which received overwhelming demand. The positive Sukuk momentum is also gaining ground in the corporate space.
The State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP) continue to support the industry and have dedicated themselves to building an enabling environment for the industry. et, the Islamic Republic still has room to grow and to realize its full potential. It is against this backdrop that IFN returns to Pakistan with its acclaimed IFN Pakistan Forum series which provides local regulators and market players as well as interested stakeholders an impartial and invaluable platform to identify critical issues and objectively discuss potential solutions.
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Pakistan sets 2028 deadline for complete transition to Islamic banking
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Pakistan introduces concept papers to develop short-term Sukuk market
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About REDmoney Events
REDmoney events designs, organizes and hosts industry-leading conferences, forums, roadshows, seminars and dialogues focusing on the Islamic financial markets across a global, regional and national level. Leveraging an exceptional network of the industry’s elite and supported by the expertise of the REDmoney publishing and seminars divisions, REDmoney Events are able to provide access to a unique array of influential speakers, panelists and participants from a cross-section of the global industry to debate the most significant issues affecting the Shariah compliant financial markets.
REDmoney events are differentiated by their complimentary yet qualified attendance structure, ensuring the highest quality of both delegates and contributors. Comprehensive and cuttingedge, attendance ensures exclusive access to the leaders in their field across all sectors and markets.
The annual IFN Asia and IFN UK Forums are categorically recognized as their continent’s leading industry events since their inception in 2006 and 2007, respectively. The Dialogues series have also become an integral element of the REDmoney events series and have cemented their position as leading, must-attend, events.
In 2024, we welcome the IFN Investor Forums, which coincide with the new IFN Investor portal.
For any inquiries contact us
Our team will be glad to answer any questions you may have about this event.