Press Release

9th Global Islamic Microfinance Forum to be Held in Lahore – Pakistan
9th Global Islamic Microfinance Forum to be Held in Lahore – Pakistan

Under the Theme of Financial Inclusion through Enterprise Development for Poverty Alleviation

(13 November 2019, Dubai): 9th Global Islamic Microfinance Forum (GIMF) will convene in Lahore – Pakistan on 11th – 13th December, 2019 under the theme of “Evidence of Impact and Financial Inclusion” 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 one of the premier Islamic multilateral financial institution for the development of the private sector.

More than 20 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 8 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 that 9th 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 gathering of 200+ Participants are expected from almost 25 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, 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 9th 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. 63,212,461,837 among more than 2,039,681 families with 99.93% recovery rate, 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 Operation and Practices of Islamic Micro and Agriculture Finance” dated for December 12-13, 2019. This Workshop will cover a variety of allied topics. To learn more about please visit: www.alhudacibe.com/gimf2019

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 - 98

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