IFN OnAir

In this episode, IFN journalist Radhika Das speaks with Jesmond Gatt, the chairman of the Malta Financial Services Authority (MFSA), and Clare Farrugia, the head of strategy, policy and innovation at the MFSA, on Malta’s plans to introduce a dedicated Sukuk framework, a first for the jurisdiction. The discussion explores the MFSA’s objectives, Shariah governance measures and Malta’s vision to position itself as a European gateway for Islamic finance.

Pakistan’s US$1.9 trillion real estate market has long operated on cash and opacity. Now, a decade after the nation launched its first Islamic REIT, the sector is entering a new phase of regulation and digital reform that could transform how Pakistanis own property, with Shariah structures leading the way. Naeem Illyas Khanani, CEO of DigiEstate and Arif Habib Dolmen REIT Management’s audit chairman discusses with IFN Managing Editor Vineeta Tan how the country’s real estate market is at an inflection point.

We explore the evolving landscape of Islamic investment management in Pakistan—from shifting asset allocation trends to the rise of mutual funds, ETFs, and REITs. What progress has been made in product innovation and investor access, and how effectively has Islamic asset management been positioned? Join us as we assess the next steps needed to scale Islamic investment and wealth management solutions across the country.

Moderator:

Rukhsana Narejo, Chief Treasury and Alternate Investments, Raqami Islamic

Panelists:

Imtiaz Gadar, Chief Executive, Al Meezan Investment Management Limited
Nadir Rahman, CEO, Faysal Funds
Tariq Naseem, Head of Islamic Finance Department, Securities and Exchange Commission of Pakistan
Tariq Sultan, Chief Business Development Officer and COO, Mahaana Wealth

Adnan Fasih, Group Head, Islamic Banking, Habib Bank AG Zurich
Zaid Naveed, Head Business Strategy and Market Intelligence, Habib Bank AG Zurich

With key reforms underway, can Pakistan emerge as a regional hub for Islamic capital markets? We explore the strategic direction set by the Islamic Capital Market Development Committee and what it means for growth, innovation, and resilience. We ask how non-sovereign Sukuk issuance can be accelerated, and how capital markets will play a pivotal role in supporting the broader financial system conversion—unlocking new opportunities for both banking and non-banking sectors.

Moderator:

Farmida Bi, Chair, Europe, Middle East and Asia Pacific, Norton Rose Fulbright

Panelists:

Iffat Zehra Mankani, CEO, JS Investments
Jawad Hashmi, General Manager, Chief Market Operations Officer, Pakistan Stock Exchange Limited
Muhammad Haris Munawar, Group Head - Wholesale Banking, BankIslami Pakistan
Syed Umair Alam Zaidi, SVP, Head of Debt Capital Markets and Syndications, Faysal Bank Limited

Moderator:

Azhar Aslam, Head Islamic Banking, Pakistan, Standard Chartered Saadiq

Panelists:

Dr Mufti Irshad Ahmad Aijaz, Member Shariah Board, Standard Chartered Bank Pakistan
Dr Mufti Muhammad Sarfaraz Nihal, Resident Shariah Board Member, Standard Chartered Bank Pakistan
Mufti Muhammad Abdul Mubeen, Group Head Shariah, Standard Chartered Bank, Member Shariah Board, Standard Chartered Bank Pakistan & Shariah Committee, Standard Chartered Saadiq Berhad Malaysia

How are Islamic financial institutions leveraging digital tools and fintech partnerships to transform service delivery, drive innovation, and expand financial inclusion? We explore how AI, mobile apps, and tech-enabled platforms are improving efficiency and customer experience, assess the regulatory and infrastructure challenges ahead, and ask how digital innovation can offer sustainable, scalable solutions for the growth of Islamic finance.

Moderator:

Syed Faraz Anwer, Partner, A.F. Ferguson & Co. (PwC Pakistan)

Panelists:

Husain Alkhaja, GCC Regional Director, DDCAP
Naureen Hyat, Financial Inclusion Specialist
Noshad Minhas, CEO and Co-Founder, Walee Financial Services
Saleemullah Shaikh, Head of Islamic Banking, HabibMetro

Yousaf Hussain, President and CEO, Faysal Bank

What does Pakistan’s shift to a fully Islamic financial system by 2028 mean for financial institutions? We explore the impact of the FSC’s ruling and State Bank reforms, offering strategic insights into regulatory transformation, market leadership, and new opportunities in financial inclusion and the Islamic economy. We hear from industry leaders on how to position for success in a changing landscape.

Moderator:

Dr Irum Saba, Director of the Centre for Excellence in Islamic Finance, Institute of Business Administration

Panelists:

Azeem Pirani, Chief Operating Officer and Executive Director, EFU Life Assurance
Muhammad Faisal Shaikh, Head, Shariah Compliance and Advisory, Faysal Bank
Shauzab Ali, Principal Project Officer, Asian Development Bank
Syed Tanveer Hussain, Group Executive and SEVP - Corporate, Commercial and Investment Banking, Meezan Bank