CENTRE OF ISLAMIC

BANKING & ECONOMICS

Press Release
5th Global Islamic Microfinance Forum will be held in Malaysia
Forum is being jointly organized by AKHUWAT and ALHUDA CIBE in order
to alleviate poverty
16th September, 15

(Lahore) Poverty is being recognized as the top of the global problems as it is spreading day by day but even
more worrying situations that the Muslim world is being hit even more severely, as it is being considered as
number one agenda of Financial Inclusion. As per a careful estimate, almost 46% of the Poor live in Muslim
countries, where the poverty trends are alarming. One of the reasons behind this is the general avoidance from
RIBA the Interest which is strictly prohibited in Islam. So if we really intend to include the Muslims in the
financial inclusion, then we need to develop a system caring their Cultural and Social Values, which is possible
only through Islamic Microfinance.
These points were said by Mr. Muhammad Zubair Mughal, the Chief Executive Officer, of AlHuda Center of
Islamic Banking and Economics (CIBE), while narrating the objectives and background of the 5th Global Islamic
Microfinance Forum to be held on November 24 25, 2015 in modern city of Kuala Lumpur, Malaysia, jointly
by AKHUWAT and ALHUDA CIBE, so that a Comprehensive strategy be formulated to alleviate poverty and for

Head Office: 160 B Ahmed Block, Ph: +92-42-35913096-8

New Garden Town Lahore, Pakistan. Fax: +92 -42-35913056

E-mail: info@alhudacibe.com
Website: www.alhudacibe.com

CENTRE OF ISLAMIC
BANKING & ECONOMICS
sustained economic progress. Participates from almost 30 different countries are expected to participate in the
forum, wherein a large variety of topics will be discussed at length, including; Islamic Microfinance, Financial
Inclusion, Rural development, Use of IT in Microfinance, Micro Takaful, Rural credit, Small business problems
and solutions, Shariah Principles and General Economic Development.
Dr. Amjad Saqib, the Executive Director, AKHUWAT also highlighted the impact and objectives of this forum, by
expressing that the primary objective of this 5th Global Islamic Microfinance Forum is to bring some relief to
the poor by developing a welfare society exploring the best techniques from a variety of methods of poverty
alleviation adopted globally. He presented the AKHUWAT Model as a successful case and declared that
Akhuwat has so far distributed almost Rs.9 Billion among 960,000 families through Qarz-e-Hassan which in
itself is a true model of Islamic Welfare oriented Microfinance system.
The Forum will be followed by Two Days; Post Event Workshop on Islamic Fund Mechanism, Shariah Standards
and Sustainable Operations This Workshop will cover a variety of allied topics. For further details the following
link can be visited: http://alhudacibe.com/gimf2015
About AlHuda CIBE:
AlHuda Center of Islamic Banking and Islamic Economics (CIBE) is a well recognized name in Islamic banking and
finance industry for research, advisory and capacity building over the last ten years. The prime goal has always
been to remain stick to the commitments and provide state-of-the-art Advisory Consultancy and Education
through various well recognized modes viz. Islamic Financial Product Development, Shariah Advisory, Trainings
Workshops, and Islamic Microfinance and Takaful Consultancies etc. Side by side through our distinguished,
generally acceptable and known Publications in Islamic Banking and Finance.
We are dedicated to serve the community as a unique institution providing Services not only in UAE/Pakistan
but all over the world. We have so far served in more than 25 Countries for the development of Islamic Banking
and Finance industry so far.
For further Details about AlHuda CIBE, please visit: www.alhudacibe.com
For Media Contact:
Ms. Shaguftta Perveen
Manager Communications,
shaguftta.perveen@alhudacibe.com
+92 42 3591 3096

Head Office: 160 B Ahmed Block, Ph: +92-42-35913096-8

New Garden Town Lahore, Pakistan. Fax: +92 -42-35913056

E-mail: info@alhudacibe.com
Website: www.alhudacibe.com