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Center of Islamic Banking and Economics

Press Release
8th Global Islamic Microfinance Forum to be held in Dubai – U.A.E.
Under the theme of Financial Inclusion, FinTech, Outreach Strategies &
Innovations

(September 05, 2018 (Dubai)): 8th Global Islamic Microfinance Forum (GIMF) will convene in
Dubai – U.A.E on 25th - 26th November, 2018 under the theme of “Financial Inclusion, FinTech,
Outreach Strategies & Innovations” to explore and discuss innovative financial inclusion
strategies that can create clear pathways to poverty alleviation. This Apex event is organized by
AlHuda CIBE in Association with Akhuwat and Sponsored by Islamic Corporation for the
Development of the Private Sector- ICD. ICD is ICD is one of the premier Islamic multilateral
financial institutions for the development of the private sector.

This time more than 30 countries will be participating in this prestigious event and around 25
international speakers will be addressing in the event. Majority of the speaker are industry
leaders and experts. AlHuda is striving for poverty alleviation through Islamic microfinance by
providing advisory, consultancy, research and capacity building services and organized 7 annual
events in different countries of the world. This event helps the industry practitioners to join the
common platform and strengthen the networking for industry development in true and
innovative ways.

Mr. Muhammad Zubair the Chief Executive Officer of AlHuda CIBE said the 8th GIMF will
explore how new and effective strategies (according to Shariah compliant procedures) be
formulated to alleviate poverty and for economic sustainability.

While narrating the theme and core purpose of 8th GIMF, Mr. Muhammad Zubair echoed his
thoughts, saying that poverty is considered one of the common global issues, but most alarming
situation is that major chunk of poverty exist in Muslim countries, as it is considered as number
one agenda of “financial inclusion” and Evidence of Impact that how positively affecting the
lives of poor people. According to most recent estimates, 46% of the poor population resides in
Muslim countries, where poverty trends are alarming. The prime reason of this staggering
situation is the general avoidance from” RIBA” which is strictly prohibited in Islam. In order to
reduce poverty in Muslim populous countries, a proper platform is needed to execute, valuing
their cultural and social values, which is possible only through Islamic Microfinance. The
purpose of this forum is to gather the stakeholders under one platform, to find out the remedy
to these problems to give a strong support to rapidly increasing Islamic Microfinance industry. A
AlHuda Center of Islamic Banking and Economics
Head Office: P.O Box. 120867, Dubai - U.A.E, Ph: 00971 55 938 99 00
Pakistan Office: 98A Sunflower Society, J1 Johar Town, Lahore – + 92 (0)42 - 35913096 – 8
Email: info@alhudacibe.com Web: www.alhudacibe.com
Center of Islamic Banking and Economics
gathering of 200+ Participants are expected from almost 35 different countries to participate in
the forum, wherein a large variety of topics will be covered including; Islamic Microfinance,
Financial Inclusion, Evidence of Impact, 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 objective of this forum,
by articulating that the primary objective of this 8th GIMF, is to assist poor by developing a
welfare society exploring the best techniques from different modes of poverty alleviation
practiced globally. He presented the Akhuwat Model as a successful case and declared that
Akhuwat has so far distributed almost Rs. 43,727,601,142 among 2,039,681 families through
“Qarz-e-Hassan” which in itself is a true model of Islamic Welfare oriented Microfinance
system. Moreover, Akhawat is going to pilot Mudarbah based product to launch it on mass level
for poverty alleviation.

The Forum will be followed by Two Days “Post Event Workshop on Islamic Microfinance-
Operations, Practices, & Outreach” dated for November 27 -28, 2018. This Workshop will cover
a variety of allied topics. To learn more about please visit: www.alhudacibe.com/gimf2018/ .

About AlHuda CIBE:


AlHuda Center of Islamic Banking and Economics (CIBE) is a well-recognized name in Islamic
banking and finance industry for research 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 serving the community as a unique institution, advisory and capacity
building for the last twelve years. The prime goal has always been to remain stick to the
commitments providing Services not only in UAE/Pakistan but all over the world. We have so
far served in more than 35 Countries for the development of Islamic Banking and Finance
industry. For further Details about AlHuda CIBE, please visit: www.alhudacibe.com

For Media Contact:


Ms. Shaguftta Perveen - Manager Communications,
info@alhudacibe.com
Call: +92 42 35913096 - 8

AlHuda Center of Islamic Banking and Economics


Head Office: P.O Box. 120867, Dubai - U.A.E, Ph: 00971 55 938 99 00
Pakistan Office: 98A Sunflower Society, J1 Johar Town, Lahore – + 92 (0)42 - 35913096 – 8
Email: info@alhudacibe.com Web: www.alhudacibe.com