
The Road to 2028
12th May 2025
Mövenpick Hotel, Karachi
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IFN Pakistan Forum 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 Securities and Exchange Commission 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.
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.
- 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
Forum Agenda
9.00 – 9.05
Welcome Remarks
9.05 – 9.15
Keynote Address
9.15 – 9.25
Presentation: Setting the Scene on Islamic Financial Services in Pakistan
9.25 – 10.30
System Reboot: Islamic Financial Services in Pakistan
From a strategic viewpoint, what will FSC’s landmark judgment and the State Bank’s reform measures mean for Islamic financial services, and how will the industry transform before 2028? How is regulation shaping strategy for the conversion of the financial system? How can Islamic financial institutions play a leadership role in the development of the Islamic economy and the push towards financial inclusion? We seek the views of a respected panel.
10.30 – 10.50
Interview
10.50 – 11.30
Driving Innovation and Transformation in Islamic Banking and Takaful
How is digital transformation advancing the development and distribution of new Islamic banking and Takaful products in Pakistan, and can technology be better applied to improving user experience? What are key operational issues and challenges related to the conversion of the financial system that Pakistani Islamic financial institutions must overcome? How can Islamic financial products incorporate important sustainability characteristics and recognise climate risk?
11.30 – 12.00
Coffee & Networking
12.40 – 13.20
Opportunity Knocks: Pakistan as a Centre for Islamic Capital Markets
How will the objectives of the Islamic Capital Market Development Committee influence the growth, innovation and resilience of Pakistan’s Islamic capital markets? Can the performance and impact of Pakistani Islamic capital markets be further enhanced and what will drive further non-Sovereign Sukuk issuance? What role will capital markets play in the conversion of Pakistan’s financial system and how can Sukuk be deployed to further support banking and non-banking financial businesses?
13.20 – 14.00
Islamic Investment Products and Asset Management in Pakistan
What are notable developments in Islamic investment management in Pakistan, including those influencing investment patterns, asset allocation and product innovation? Has Islamic asset management been positioned and promoted effectively, and what more could be done to provide Islamic investment and wealth management products? How is the growth and development of Islamic mutual funds, ETFs and REITs shaping the industry?
14.00 – 14.30
The Next Frontier: Islamic Social and Sustainable Finance in Pakistan
Can Islamic finance be applied to the funding of social and sustainable causes, and how can impact be measured? How can Waqf, Zakat and Sadaqah be applied to further social causes? How do social finance and the Halal economy overlap, how can we leverage on this further, and how are both connected to the achievement of the United Nation SDGs? How are regulator-led initiatives helping businesses transition to greener and more sustainable practices, and what role can Islamic finance play? We ask an expert panel.
14.30
Lunch and Networking
IFN Pakistan Forum 2019 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 Bank
Azeem Iqbal Pirani
Chief Operating Officer & Executive Director, EFU Life Assurance
Dr Irum Saba
Associate Professor - Department of Finance, School of Business Studies, IBA- Karachi
Muhammad Faisal Shaikh
Head, Shariah Compliance and Advisory, Faysal Bank
Dr Muhammad Imran Ashraf Usmani
Vice Chairman Shariah Supervisory Board, Meezan Bank
Muhammad Shoaib Ibrahim
CEO, First Habib Modaraba
Muhammad Zeeshan Farrukh
Head of Shariah Compliance, Bank Makramah
Mustafa Adil
Head of Islamic Finance, London Stock Exchange Group
Tariq Naseem
Head of Islamic Finance Department, Securities and Exchange Commission of Pakistan
Tayyaba Rasheed
Investment Specialist, Private Sector Operations Department, Asian Development BankThe 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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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.
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Our team will be glad to answer any questions you may have about this event.