Press Release

7th African Islamic Banking and Finance Summit to be organized in Tanzania
7th African Islamic Banking and Finance Summit to be organized in Tanzania

Africa is an Emerging Market Currently, with Middle East and Asia Market now fully mature: Muhammad Zubair Mughal

(June 10, 2021 - Dubai): AlHuda Centre of Islamic Banking and Economics (CIBE) is honored to organize 7th African Islamic Finance Summit in Tanzania. Similar events have been held successfully for many years in Tanzania for the betterment of the socio-economic conditions of the rural and urban areas of the country. It will be held at Hyatt Regency – The Kilimanjaro, Dar-es-Salaam, Tanzania on 8th July 2021. The summit will be followed by Post Event Workshops on Operational Aspects of Islamic Banking and Takaful on 9th – 10th July 2021. More than 15 international speakers would give their valuable contribution in the topics of discussion. The banking and financial industry of Tanzania and the surrounding African Countries will actively participate in the conference to gain ample knowledge of the Islamic financial sector and solutions to the escalating problems of the society. The event is sponsored by ICD and Codebase Technologies, and is supported by SPM Consulting, CIFCA, London School of Modern Studies and there are many supporters in queue. High profile participants from more than 20 countries are expected to participate e.g. from central banks, banking and financial sectors of Tanzania and the rest of the African countries, microfinance and insurance industry.

Mr. M. Zubair Mughal, the Chief Executive Officer of AlHuda CIBE thanked the supporters and the sponsors in advance for their continuous trust on them and the unprecedented support for the event that is much needed to achieve the milestone. Tanzania has a largely rural population, which makes access to financial services a challenge and digital solutions ideal. The World Bank reports 70% of the population resides in rural areas, and Financial Inclusion (FI) data shows that less than one-third (29%) of the rural population have active accounts (used in the last 90 days), whereas urban citizens are twice as likely to have actives accounts (61%). Approximately 76% of Tanzanians live on less than $2 per day, with three-quarters of Tanzanians employed in the agriculture sector, according to World Bank data. Making gains among these groups is key to improving Tanzanians’ financial lives. He said that Islamic banking and finance is the best alternative to change the lives of the poor. Investing in Islamic Banking and Finance could mean greater foreign investment that could result in enhanced global connectivity, improved job creation, socio-economic development and poverty alleviation.

The main objectives of the summit include e.g. recognizing significant developments in Islamic Financial Infrastructure of Africa, linkages of African Islamic Finance industry with international financial market, demonstration of the flexibility of Islamic Financial markets during recent financial crisis, share the best practices of the international Islamic banking market with African Islamic finance Industry, assessing innovations in Islamic financial markets through the growth of newly developed research based products etc. The event is open to the public with a very nominal entrance fee. It is highly recommended that more and more organizations, companies and banks join the summit to gain the maximum benefit from this international event in Tanzania.

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 provides state-of-the-art Advisory Consultancy and Education through various well-recognized modes viz. Islamic Financial Product Development, Shariah Advisory, Training 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

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