Press Release

Islamic Finance Seems Promising in Canada - Alhuda CIBE organize two days Specialized Training Workshop on Islamic Banking and Finance in Toronto, Canada.
Islamic Finance Seems Promising in Canada - Alhuda CIBE organize two days Specialized Training Workshop on Islamic Banking and Finance in Toronto, Canada.

(November 3, 2023 Dubai - UAE): Canada is witnessing an increasing interest in Islamic finance, particularly in areas like housing finance, mortgage finance, and takaful (Islamic insurance) products. Some small level Islamic finance institutions in the Canadian market are offering the financial services that adhere to Sharia principles.

Alhuda Centre of Islamic Banking and Economics (CIBE) – UAE, a leading global Islamic finance consultancy and advisory firm, recently conducted a two-day specialized training workshop on the basic and practical aspects of Islamic banking and finance in Toronto, Canada. Islamic finance is a rapidly growing industry worldwide, and Canada is no exception. While Islamic finance is still in its early stages of development in Canada, it is gaining popularity among both Muslims and non-Muslims alike. The growing popularity of Islamic finance in Canada is a positive development for the country’s economy. Islamic finance can help to promote financial inclusion and economic growth. It can also help to strengthen Canada’s ties with other Muslim-majority countries.

Mr. Zubair Mughal, CEO of Alhuda CIBE, spoke at the workshop about the importance of Islamic finance in promoting religious harmony and financial inclusion. He said, Islamic finance is a system, not a religion. Muslims have a distinct advantage, as it aligns with their religious principles, but it also offers non-Muslims a unique and ethical way of managing their finances. This is an inclusive system that benefits everyone, regardless of their faith.

Mr. Zubair Mughal, added that the religious harmony in Canada makes it an ideal atmosphere for Islamic finance, and due to the large number of Muslim immigrants, demand of Islamic banking products is increasing in the market. This industry not only caters to the financial needs of Muslims but also resonates with individuals seeking ethical and socially responsible financial solutions. The specialized training workshop by Alhuda CIBE aimed to equip participants with a comprehensive understanding of Islamic banking and finance principles and their practical applications to the Canadian Market. It also provided a platform for industry experts to share insights and experiences. Through initiatives like the recent workshop, Alhuda CIBE continues to play a vital role in promoting the principles of ethical and responsible finance in Canada.

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
Call: +971 52 865 5523

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