Press release on development of islamic microfinance
Published on: Mar 4, 2016
Transcripts - Press release on development of islamic microfinance
CENTRE OF ISLAMIC BANKING& ECONOMICSPress ReleaseMFI’s from 27 Countries unified for the development of Islamic MicrofinanceGlobal Islamic Microfinance Forum concluded in UAE with a unanimous declarationto work together for the advancement of Islamic Microfinance globally.December 12, 2012(Dubai – UAE) Three-day “Global Islamic Microfinance Forum” was organized on 8th-10th December 2012,in Dubai World Trade Centre, UAE. The delegates from UAE, Pakistan, India, UK, Bangladesh, USA, UKBahrain, Yemen, Azerbaijan, Turkmenistan, Kirghizstan, Mauritius, Kenya, Canada, France, Egypt, Philippine,Uganda, Iraq, Nigeria, Sudan along with delegates from other countries participated in the Forum.The salient topics discussed at the conference included bringing together the Islamic MicrofinanceInstitutions on a single platform, role of Islamic Microfinance in poverty alleviation, Shariah and relatedissues of Islamic Microfinance Institutions and their solutions, Outreach of Al Huda Centre for Excellence inIslamic Microfinance to different countries and dissemination of Qarz-e-Hasna Model of Akhuwat.Representatives from microfinance institutions from 27 countries expressed their intent to unify theirefforts for poverty alleviation and social development through Islamic Microfinance.Speaking on the successful completion of the forum, Zubair Mughal – Chief Executive Officer AlHuda Centreof Islamic Banking and Economics highlighted that the assemblage of a large number of institutions on theforum of Islamic Microfinance is a clear indication that it is the only viable solution of poverty alleviationaround the globe. He urged the World Bank, IDB, USAID, IFC and other international institutions to includeIslamic Microfinance in their priority list for social development and poverty eradication; otherwise theachievement of Millennium Development Goals of the United Nations will not be possible.
While addressing the conference, Dr. Amjad Saqib (Executive Director – Akhuwat) declared that IslamicMicrofinance Network will be spread all around the world; a specialist Shariah Supervisory Committee willbe setup to cope with the Shariah challenges encountered by Islamic Microfinance Institutions. He furtherstated that the "3rd Global Islamic Microfinance Forum" will be organized by Al Huda CIBE in November,2013.Al Huda CIBE hosted the said forum in Dubai with the joint effort of Akhuwat, in which internationally well-renowned speakers addressed the participants. The key-note speakers Justice Khalil ur Rehman, ShariahAdvisor – AlBaraka Bank Limited, Mr. Kavilash Chawla MD, Nur Global Strategies- U.S.A, MaheshJayanarayan, Chairman UMEX Market Group Ltd-UK, Zaigham Mehmood Rizvi,Expert Consultant on Housingand Housing Finance-World Bank - Washington – U.S.A, Dr. Amjad Saqib, Executive Director - Akhuwat –Pakistan, Pervez Nasim Chairmen Ansar Financial and Development Corporation Canada, Syed HussainHaider Senior Consultant - Govt of Punjab & Akhuwat, Ms. Katrin Fakiri MD (MISFA)–Afghanistan, GulnoraYakubova, Operation Director, LLCMDO “ARVAND”-Tajikistan, Md. Ariful Islam, International ProgrammesMuslim Aid–Bangladesh, Humaiyun Saeed Jamshed, Senior Director (Marketing) SAB International FZ,UAE,Raffick Nabee Mohomed Founder & Secretary, Al Baraka Multi-purpose Co-operative Society Ltd,Mauritius,John D. Harwood, Canada, Aziz Ur Rehman Manager Shariah, Mawarid (Finance) UAE, Mohamed ElMehdi Zidan, Director Baraka Editions-France. Dr. Tariq Cheema CEO World Congress of MuslimPhilanthropists - U.S.A and others presented their research papers on Islamic Microfinance to enrich theknowledge of the participants.Head Office: 192- Ahmad Block, Ph: +92-42-35913096-8 E-mail: email@example.comNew Garden Town Lahore, Pakistan. Fax: +92 -42-35913056 Website: www.alhudacibe.com