November 30, 2023

Investment Banking

Let Your Investment Banking Do The Walking

Concept of leadership in general, its relationship and importance in banking discussed


First day of the Summer School was started by Mr. Adnan Malik, Lecturer IMSciences with recitation of Holy Quran. A welcome Address was made by Dr. Shafiullah Jan, Head of CEIF and Tenured Associate Professor, IMSciences.

He welcomed all of the speakers and participants on behalf of CEIFIMSciences. Dr. Shafiullah Jan briefly talked about the background of CEIF, introduced the team members, `and discussed the session plan, programs introduced at IMSciences, publications and consultancy in different projects.

Second session was followed by Mr. Umer Iqbal Sheikh, Group Head Taqwa Islamic Banking, The Bank of Punjab. Mr. Umer discussed leadership impact in strengthening Islamic Banking. Mr. Umer Shared concept of leadership in general and its relationship and importance in banking.

Moreover, he also highlighted its significance in Islamic Banking. He concluded his session in an informal way guiding and encouraging participants to explore Islam and its role in Business.

A group photo-shoot was done for all of the participants and tea was served. Participants had an opportunity to socialize with fellow participants.

Next session was opened by Dr. Karimullah, Tenured Associate Professor and CEIF Team member. Dr. Karim shared concept of gold banking as a case of Turkiye Banking. Dr. Karim briefly discussed the idea of gold banking, how it is operationalized, its accounting treatment and reporting, AAOIFI Standards, treasury regulations and cash conversion.

From an Islamic Banking perspective gold deposit, gold Ijarah and gold bonds as well as how jewelry industry can establish its own bank. Dr. Karim also highlighted why participation in gold banking is important for Pakistan.

Fourth session of the day was led by Mr. Syed Sitwat Rizvi, Head of Shariah Compliance and Secretary Shariah Board, Dubai Islamic Bank Pakistan Limited. His purpose was to suggest how to use cases of blockchain technology in Islamic Banking products.

Moreover, how Islamic Banks can leverage on the trust placed in blockchain technology by general public to help develop their confidence in the Shariah Authenticity of Islamic Banking products.

He introduced blockchain asa concept, its essentials, similarities between Islamic Finance and Blockchain, also the top 7 use cases of blockchain in Islamic Banking and Finance. After prayers and lunch break, Mr. MuftiQaziJaved Ahmed, RSBM BankIslami shared Shariah Non-Compliant Risk Management in the light of Islamic Commercial Paper.

After introducing himself briefly, he started with Shariah Compliance and SNCR Management Instructions-IBD Circular. Mufti Javed Ahmed discussed Shariah Non-Compliance risk, with respect to Islamic Banking products such as Murabaha, Diminishing Musharakah, Salam/Istisna, Investment Banking, Pool Management, Treasury Acceptance, Import & Export etc.

Last session was presented by Qazi Abdul Samad, RSBM The Bank of Khyber. His presentation was about Riba FSC Decision. He opened his session with a question “Why Islamization is important for Pakistan?” He made sure maximum participation from the audience by keep asking questions and involving participants in discussion. He introduced history of Riba cases in Pakistan through Supreme Court.

The Chief Guest of the event was Dr. Ishrat Hussain.