AlHuda CIBE Awards Shariah Compliance Certificate to AL BARAKAH MCSL
A Milestone in Advancing Islamic Cooperative Finance in Mauritius
(December 18, 2025 (Dubai – UAE)): AlHuda Centre of Islamic Banking and Economics (AlHuda CIBE) has officially awarded a Shariah Compliance Certificate to AL BARAKAH Multi-purpose Co-operative Society Limited, Mauritius, following a comprehensive Shariah review of its operations, products, and governance framework. The certification reflects AL BARAKAH’s adherence to Shariah principles across its cooperative and financial activities and marks a significant milestone in strengthening Islamic finance practices in Mauritius.
The development coincided with a high-level engagement between H.E. Mr. Munsoo Kurrimbaccus, High Commissioner of Mauritius to Pakistan and President of AL BARAKAH, and Mr. Muhammad Zubair Mughal, Chief Executive Officer of AlHuda CIBE. During his visit to Pakistan, H.E. Mr. Kurrimbaccus also visited the AlHuda CIBE Lahore office, where discussions focused on expanding cooperation in Islamic finance between Pakistan and Mauritius.
Mr. Muhammad Zubair Mughal stated that AlHuda CIBE is pleased to award the Shariah Compliance Certificate to AL BARAKAH Multi-purpose Co-operative Society Limited after a thorough review of its operations, products, and governance framework. He added that the certification reflects AL BARAKAH’s commitment to Shariah principles and international best practices in Islamic finance. He further stated that AlHuda CIBE remains committed to supporting institutions across Africa and other regions in strengthening Shariah governance, ethical finance, and sustainable financial systems.
H.E. Mr. Munsoo Kurrimbaccus stated that the Shariah certification awarded by AlHuda CIBE is an important milestone for AL BARAKAH and reinforces confidence in its cooperative and financial activities. He stated that Mauritius continues to position itself as an emerging hub for Islamic finance and welcomes collaboration with international institutions to promote Shariah-compliant finance, knowledge exchange, and cross-border partnerships, particularly between Africa and Asia.
Building on this momentum, both sides discussed collaboration around upcoming global forums, including the 12th African Islamic Finance Summit, where Mauritius’ role in Islamic finance development and cross-border cooperation is expected to feature prominently.
The engagement reflects AlHuda CIBE’s continued mission to promote Shariah-compliant finance globally through advisory services, certification, training, and international dialogue, while supporting institutions like AL BARAKAH in building strong and credible Islamic finance ecosystems.
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 104 countries for the development of Islamic Banking and Finance industry. For further Details about AlHuda CIBE, please visit: https://www.alhudacibe.com/
For Media Contact:
Ms. Shaguftta Perveen
Manager Communications,
info@alhudacibe.com
Call: +971 52 865 5523
