A New Initiative for the Development of Islamic Microfinance

21/08/2014 18:15 AST

Keeping in view rising concept of Islamic microfinance all over the world, a platform is formed to promote Islamic microfinance globally. The purpose of this platform is to strengthen it through publications, social media, discussion forums, and research. The platform will work as 'Islamic Microfinance News'. This product has been initiated by AlHuda Centre of Islamic Banking and Economics (CIBE) that is a prominent name in Islamic Microfinance industry.

'Islamic Microfinance News' was launched in Lahore. Many important national and international microfinance dignitaries participated in the inauguration of this product. While talking to the audience, Muhammad Zubair Mughal, Chief Executive Officer, AlHuda CIBE said that the core purpose behind initiating this platform is to highlight Islamic microfinance through media including social media, discussion forum, interviews and blogs etc so that we would held ending the socials abuses like poverty, socio economic discrimination and unjust from the world. Islamic microfinance is equally beneficial for Muslims and non Muslims. Unfortunately, Islamic microfinance is more often taken as a religious system than a financial system. Mostly the image is given as if Islamic microfinance is only for Muslims. In reality, Islamic microfinance is a financial system and Muslims and non Muslims equally own it.

He further added that AlHuda CIBE is organizing "4th Global Islamic Microfinance Forum" that is scheduled on November 01-02, 2014 at Dubai - U.A.E.A global strategy will be chalked to strengthen Islamic microfinance all over the world. Delegates from 35 countries will participate into this international conference. Topics like Islamic microfinance, Islamic micro insurance, and role of IT in Islamic microfinance, promotion of small business, job opportunities, and methods of poverty alleviation, small savings and the initiatives of international organizations for poverty alleviation will be discussed in the first day of the forum. Therefore, Shariah and Marketing of Islamic microfinance will be the core topics of discussion.

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