Press Release

MoU Signed between AlHuda CIBE FZ LLE, UAE and Center of Excellence in Islamic Finance to Promote Islamic Finance (CEIF) Pakistan

(September 5, 2019 (Dubai)): Islamic finance, the globally emerging phenomenon is captivated its roots in Muslim, European countries and in America as well. The built-in features of sustainability and best alternative financial solution make this phenomenon prominent and attracts the attention of professionals and researchers. Keeping in view the importance, AlHuda CIBE FZ LLE, Dubai- UAE and Center of Excellence in Islamic Finance (CEIF), Institute of Management Sciences (IM Sciences), Peshawar- Pakistan have entered into a Memorandum of Understanding (MOU).

Mr. Zubair Mughal, the CEO of AlHuda CIBE said that Islamic finance is not only the interest of Muslim population rather non-Muslims are taking keen interest to learn and implement it. There are various non-Muslim countries where Islamic banking and finance is providing their customers state-of-the-art services above all religious differences. He added that according to this MoU, both organizations will work together to strengthen the abilities of Islamic banking and finance and to provide joint training, research activities and consultancies and other services. He said that AlHuda CIBE is keeping an eye on Islamic banking and finance.

He also added that, we will pool our expertise and resources to achieve the optimum goal of promotion of Islamic banking and finance in our targeted countries. This step will surely benefit Islamic banking and finance in the field of capacity building. Mr. Zubair Mughal, Chief Executive Officer, AlHuda CIBE, stated that, Islamic finance is a recognized tool of financial inclusion which ultimately enhance the economic activity and bring the prosperity to uplift the living standards of the population.

In implementation of the MOU signed between the Centre for Excellence in Islamic Finance (CEIF), Institute of Management Sciences, Peshawar and ALHUDA Centre of Islamic Banking & Economics (CIBE) UAE on 18 th July, 2019, both parties agreed to conduct joint trainings, research and consultancies on Islamic banking and Finance at different parts of the world. CEIF IMSciences is a research and training Centre established by the State Bank of Pakistan for the promotion of Islamic banking and finance in the region. This MOU is part of the CEIF IMSciences overall efforts to support the best Islamic finance education, research, and practices through a full range of high quality educational programs, publishing the award winning and globally impactful books, scholarly papers, research led consultancy, and trainings to the practitioners and faculty from the leading Islamic finance countries, including Africa, Indonesia, Malaysia, UK, and Pakistan.

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:

For Media Contact:
Ms. Shaguftta Perveen
Manager Communications,
Call: +92 42 35913096 - 98

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