Our Core Founding Team

Dr. Imam Uddin

Head of Sharia & Islamic Finance

Senior Academician and Researcher

Dr. Imam Uddin is a distinguished authority in Islamic economics, banking, and finance, recognized for combining deep Shari’ah scholarship with extensive industry and academic leadership. He currently serves as Head of Shari’a Advisory at Nur Advisory and leads the Center for Islamic Business & Finance at the Institute of Business Management (IoBM), where he is also Associate Dean of the College of Business Management and Professor of Finance.

He holds a PhD in Islamic Business & Finance, complemented by qualifications in Islamic Jurisprudence, an LL.B., and a Postgraduate Diploma in Islamic Banking & Finance. Accredited by the Higher Education Commission (HEC) as a PhD supervisor, he has also completed post-doctoral research at Florida International University. His career spans senior leadership roles—including Vice President of Shari’ah Compliance & Product Development at the National Bank of Pakistan—alongside academic appointments at DHA Suffa University, University of Balochistan, and Mohammad Ali Jinnah University.

A prolific author and researcher, Dr. Uddin has published over 100 peer-reviewed papers and several books, including Islamic Financial Institutions: An Introduction and Islamic Capital Markets: The Structure, Formation, and Management of Sukuk (Routledge, UK). He is internationally recognized for advancing Shari’ah governance, Islamic capital markets, and ethical financial systems, and for his leadership in organizing IoBM’s flagship Annual International Conference on Islamic Banking and Finance, a premier forum for global thought leadership in the field.

Azmat Rafique

Chief Executive Officer

Senior Banker and Management Consultant with 28 years of international experience.

MBA (IBA Karachi), MSc. Islamic Economics, Banking and Finance (Loughborough University), Project Management Professional (PMP), Certified Shari’ah Advisor & Auditor(CSAA)

Azmat Rafique is the Chief Executive Officer of Nur Advisory, bringing over 28 years of international experience across banking, Islamic finance, and management consulting in the GCC, South Asia, and Europe. He is a seasoned financial services leader and advisor with deep expertise in Islamic finance strategy, institutional development, governance frameworks, and sustainable finance.

Prior to founding Nur Advisory, Azmat served as Head of Islamic Banking at Oman Arab Bank, where he led strategic business growth and institutional development initiatives. He has also held senior leadership roles at Bank AL Habib as DGM Islamic Banking—managing business operations including branch network performance and interbank investments—as well as at MCB Bank, alongside advisory roles with Ernst & Young, where he contributed to major consulting assignments for leading financial institutions across the GCC.

His advisory experience spans a broad spectrum of strategic and operational engagements, including:

  • Corporate governance and regulatory framework design
  • Islamic banking business and operating models
  • Product structuring and financial innovation
  • Business planning and market entry strategy
  • Shari’ah audit and advisory
  • Institutional setup of Islamic financial institutions
  • Project and transformation management
  • Capacity building and executive training

During his tenure with Ernst & Young, Azmat advised prominent regional financial institutions on transformational initiatives in Islamic finance, governance enhancement, and organizational development.

Alongside his consulting work, Azmat actively contributes to academia and professional development. He regularly teaches courses in Business Strategy, Islamic Capital Markets, and Economics, and delivers corporate training programs covering Islamic finance, FinTech, leadership, and management transformation. He is also a published contributor to industry periodicals and thought leadership platforms.

Azmat holds an MSc in Islamic Economics, Banking and Finance from Loughborough University (UK) and an MBA from IBA Karachi. He is a Certified Shari’ah Auditor and Advisor (AAOIFI) and a Project Management Professional (PMI, USA).

His executive education includes:

  • Certificate in New Business Leadership — MIT (USA)
  • Entrepreneurship Specialization — The Wharton School
  • MicroMasters in Digital Leadership — Boston University

He has further completed specialized certifications from the World Bank, Asian Development Bank, and United Nations in sustainable finance, green economy, and circular economy frameworks, reflecting his current focus on aligning Islamic finance with sustainability and ESG-driven economic transformation.

Sarfaraz Ahmed

Head of Financial Advisory

Seasoned professional Islamic Banker, possessing more than 25 years of experience in leading Financial Institutions in Pakistan.

MBA (IBA Karachi), PGD in Islamic Banking & Insurance (Institute of Islamic Banking and Insurance, London).

Sarfaraz is a seasoned Islamic banking professional with over 25 years of extensive experience across leading financial institutions in Pakistan. He has specialized expertise in Shariah-compliant product development, having successfully designed, structured, and launched a wide range of deposit and financing products — from concept through to commercial rollout. His contributions include innovations in pool management and profit distribution frameworks, ensuring both regulatory compliance and market competitiveness.

Throughout his career, Sarfaraz has played a pivotal role in advancing Islamic banking practices by combining technical rigor with practical implementation. His academic foundation includes a Master of Business Administration (MBA) from the Institute of Business Administration, Karachi, and a Postgraduate Diploma in Islamic Banking & Insurance from The Institute of Islamic Banking and Insurance, London.

With a proven track record of product innovation and strategic execution, Sarfaraz brings deep industry knowledge and a commitment to strengthening the Islamic finance ecosystem.

Khawaja Masood Raza

Director Assurance

Khawaja Masood Raza is a seasoned Islamic finance professional with nearly three decades of experience across academia, consultancy, and corporate leadership. He holds an MPhil and Master’s degree in Islamic Banking & Finance and is currently pursuing a PhD. His career includes senior executive and consulting roles focused on operational efficiency, governance enhancement, financial controls, and organizational transformation. As an international consultant, he has advised institutions on Islamic finance frameworks and business process reengineering. Alongside his corporate work, he has served as visiting faculty for over 20 years, teaching accounting, finance, taxation, and Islamic banking, while contributing extensively through publications and professional mentoring. He is currently serving as the Dean of Business Studies in a local university.

Muhammad Zeeshan Farrukh

Director Learning & Development

Muhammad Zeeshan Farrukh is a Chartered Islamic Finance professional with nearly 18 years of experience in Islamic banking, Shari’ah compliance, product development, and capacity building. He has held senior positions at leading institutions, including BankIslami, UBL, Al Baraka Bank, National Bank of Pakistan, and Bank Makramah Limited, where he currently serves as Head of Shari’ah Compliance and Secretary to the Shari’ah Board. He also leads Research and Learning Advisory at GISRAS. Academically, he holds an MBA, a CIFP qualification from INCEIF Malaysia, and advanced Shari’ah studies credentials. He is a published researcher and a recognized expert in Shari’ah governance and product innovation.