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Mufti Ehsan Waquar

Shari'ah Adviser & Member Shari'ah Supervisory Board

Mr. Ahmed holds Masters in Islamic Jurisprudence from Jamiat-ur-Rasheed.

Mufti Ehsan Waquar Ahmad is the Chairman, Shari'ah Board at NBP-Aitemaad. He is among the few scholars who possess a unique combination of religious and contemporary education. He graduated as a Mufti, achieving Masters in Traditional Islamic Studies and specializing in Islamic Jurisprudence from Pakistan’s renowned Islamic School, Jamiat-ur-Rasheed. Later he accomplished Masters in Economics from KU and Masters in Business Administration with majors in Finance from IoBM. He had also attained LLB Degree from S.M. College, Karachi. This unique blend of educational combination gives him an edge to understand, correlate and align modern day banking practices with Shari'ah principles.

Alhamdulillah, Mufti Ehsan has exclusively served Islamic Financial Industry and worked with institutions like World Bank-IFC, ABL, Soneri Bank, NBP Funds, Askari General Insurance Company Takaful Window (AGICO), Emirates Global Islamic Bank now Al Baraka Bank Pakistan, UBL, Yasaar Ltd - UAE & UK, Minhaj Advisory – UAE, Arif Habib for more than a decade now. He has structured several Sukuk including the largest Sukuk in Pakistan; a hundred billion Sukuk for Neelum Jhelum Hydro Power, Engro Polymers, Fatima Fertilizer, Fauji Fertilizer, and IBL. Previously he worked on Sitara Peroxide, Sitara Energy, Security Leasing Corporation Limited and National Industrial Parks in Pakistan. Currently, he runs his consulting as “ESAAC”. ESAAC offers a complete turnkey solution for Islamic financial institutions, including banks, takaful companies, modarabas, and other institution.

Mufti Ehsan had been a member of the Technical Committee for Developing Accounting & Auditing Standard for Islamic Financial Institution at Institute of Chartered Accountants of Pakistan (ICAP) for several years. He has actively worked with SBP and was nominated to several sub-committees formed by SBP Shari'ah Board for Islamic Banking matters in Pakistan. Mufti Ehsan conducts courses of Classical Jurisprudence, Islamic Finance, and Risk Management at Traditional Islamic Universities. He time to time contributes to different international and local periodicals and appears as an industry expert on local TV channels.