Karachi, Pakistan - Pakistan's commitment to transitioning towards a fully Islamic financial system by 2028 will take center stage at the 10th annual IFN Pakistan Forum, scheduled to be held on May 12, 2025, at the Mövenpick Hotel in Karachi. The forum, supported by the Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP), will gather the country's leading Islamic finance experts, regulators, and stakeholders to discuss the crucial steps and challenges involved in this ambitious transformation.

The event aims to address key operational issues, regulatory strategies, and the development of Shariah-compliant products necessary for the conversion of the financial system. Discussions will also focus on how Islamic finance can incorporate sustainability characteristics and address climate risks, aligning with global trends towards responsible investing.

A significant highlight of the forum is the announcement that Islamic Finance TV (IFTV) will be the official media partner for this prestigious event. This partnership underscores the growing importance of dedicated media platforms in disseminating information and fostering dialogue within the Islamic finance industry. IFTV's comprehensive coverage is expected to provide valuable insights and updates to a wide audience, both within Pakistan and internationally.

Pakistan's Islamic finance sector has witnessed substantial growth, with total assets estimated at PKR 9.9 trillion (USD 34.5 billion) as of March 2025, representing a market share of 25-27% of the overall banking sector. This growth is fueled by progressive regulatory reforms and an increasing demand for Shariah-compliant financial solutions. The mandate to transition to an interest-free financial system by 2028, as per the Federal Shariat Court's order, is a key driving force behind the current momentum.   

The forum's agenda includes in-depth discussions on the implications of the Federal Shariat Court's landmark judgment and the State Bank's reform measures for Islamic financial services. Experts will explore how the industry will transform in the coming years and the regulatory landscape shaping this conversion. Operational challenges faced by Pakistani Islamic financial institutions will also be addressed, with a focus on overcoming hurdles in the transition process.

Furthermore, the forum will delve into the role of Islamic capital markets in driving growth and innovation. Discussions will cover strategies to enhance the performance and impact of Pakistani Islamic capital markets and explore avenues for increasing non-sovereign Sukuk (Islamic bonds) issuance. The potential of Islamic asset management, including mutual funds, ETFs, and REITs, in providing Islamic investment and wealth management products will also be a key area of focus.

The intersection of social finance and the Halal economy, and their connection to the United Nations Sustainable Development Goals (SDGs), will also be examined. Regulator-led initiatives aimed at helping businesses transition to greener and more sustainable practices, and the crucial role Islamic finance can play in this context, will be highlighted.

The IFN Pakistan Forum 2025 promises to be a pivotal event, providing a platform for critical discussions and collaborations as Pakistan moves closer to its goal of a fully Islamic financial system. With Islamic Finance TV as the official media partner, the event's insights and outcomes are expected to reach a broad spectrum of stakeholders, contributing significantly to the advancement of Islamic finance in the country.

Key Highlights:

The 10th IFN Pakistan Forum will be held on May 12, 2025, in Karachi.   

The forum will focus on Pakistan's transition to a fully Islamic financial system by 2028.

Islamic Finance TV (IFTV) is the official media partner for the event.

Discussions will cover regulatory strategies, Shariah-compliant product development, and operational challenges.

The role of Islamic capital markets, asset management, and the Halal economy will be explored.

Sustainability and the alignment of Islamic finance with SDGs will be a key theme.

The forum is supported by the SECP and the SBP, bringing together key industry players and regulators.   

Pakistan's Islamic finance sector has grown significantly, holding 25-27% of the banking market share in 2025.   

The event aims to provide a roadmap for the industry's transformation in the coming years.