Alhuda CIBE Organizes Exposure Visit to Malaysia for African Financial Institutions, Promoting Cross-Border Learning in Islamic Finance

(Dubai, UAE February 20, 2024): In line with its mission to promote Islamic finance education and capacity building globally, Alhuda Center of Islamic Banking and Economics (CIBE) hosted an exposure visit to Malaysia for a delegation of senior representatives from National Bank of Ethiopia (NBE), and Gambia Ministry of Agriculture & Finance and economics, Microfinance banks, and Small Ruminant Production Enhancement Project (SRPEP) funded by the Islamic Development Bank (ISDB). The visit aimed to facilitate cross-border learning and exchange of expertise in Islamic finance practices.

During the visit, the participants engaged in a two-day Executive Training Workshop on Islamic Finance, gaining valuable insights into the industry's core principles, products, and operations. Additionally, they had the opportunity to visit leading Malaysian institutions, including:

Islamic Banking and Finance Institute Malaysia (IBFIM): The delegation explored how to develop Islamic banking knowledge and IBFIM role in developing human capital for Islamic finance. They also discussed strategies for replicating similar initiatives in their home countries.

Maybank Islamic Berhad: Participants gained an in-depth understanding of Maybank Islamic innovative product structure and received updates on the latest developments in the Islamic banking landscape.

Koperasi Co-opbank Pertama Malaysia Berhad: The visit focused on understanding the cooperative approach to Islamic finance and its successful implementation in the SME and microfinance sectors.

Malaysian Takaful Association (MTA): The delegation delved into the Takaful industry in Malaysia, exploring product offerings, regulatory frameworks, and best practices.

International Islamic Liquidity Management (IILM): Discussions centered on Islamic liquidity management strategies and how to develop robust liquidity management frameworks within Islamic financial institutions.

Mr. Muhammad Zubair, CEO of Alhuda CIBE expressed that, "This exposure visit provided a unique platform for our African partners to gain firsthand knowledge from Malaysia's leading Islamic finance institutions. We are confident that the learnings and connections established during this visit will contribute significantly to the advancement of Islamic finance in their respective countries."

Mrs Serkaddis Adugna, the Principle Examiner NBE said that "We are grateful to Alhuda CIBE for organizing this insightful visit. The exposure to Malaysia Islamic finance ecosystem has equipped us with valuable knowledge and best practices that we can leverage to further develop Islamic finance in Ethiopia." Similarly, the permanent secretary Ministry of Agriculture, Mod AK Secka, states that "This program has provided us with a deeper understanding of Islamic finance principles and their application in the agricultural sector. We are confident that this knowledge will enable us to effectively utilize Islamic finance instruments to support the development of the small ruminant production sector in Gambia."

Alhuda CIBE commitment to bridging knowledge gaps and facilitating cross-border collaboration within the Islamic finance industry continues to open the ways for sustainable financial inclusion and economic prosperity across the globe. This exposure visit serves as a testament to their dedication to empowering African financial institutions and fostering the growth of the Islamic finance sector in the continent.

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