Bilal Rasul is the registrar of modaraba companies and of the Modarabas, Securities and Exchange Commission of Pakistan (SECP). A British Council (Chevening) scholar, Rasul gained his master’s degrees in public administration and in economics and finance in the United Kingdom. He has 15 years of varied experience in capital market regulation, including the securities market and nonbanking and finance companies, as well as the nonfinancial sector. As registrar, he is responsible for heading the Islamic finance initiative for the capital market in Pakistan. He is also the focal person of the Islamic Financial Services Board (IFSB) at SECP, responsible for the implementation and adoption of IFSB standards and principles.