The Sixth Global Islamic Microfinance Forum officially inaugurated by Dr Geoffrey N. Mwau, Director General, Budget, Fiscal & Economic Affairs, National Treasury, Kenya, Raza Bashir Tarar, High Commissioner of Pakistan in Kenya, Dr Amjad Saqib, Founder Akhuwat and Zubair Mughal, CEO, AlHuda CIBE in Nairobi on Tuesday.
According to a press release issued by AlHuda CIBE, major topics will be discussed at the conference included bringing together the Islamic Microfinance Institutions on a single platform, role of Islamic Microfinance in poverty alleviation, Shariah and related issues of Islamic Microfinance Institutions and their solutions, Crypto-Currency as tool of financial inclusion, Islamic Agri. and Rural Finance, I.T role for the development of Islamic Microfinance, Outreach of AlHuda Centre for Excellence in Islamic Microfinance to different countries and dissemination of Qarz-e-Hasna Model of Akhuwat.
Representatives from microfinance institutions from 28 countries expressed their intent to unify their efforts for poverty alleviation and social development through Islamic Microfinance.
In his opening remarks, Dr Amjad Saqib, Founder - Akhuwat appreciated the contribution of AlHuda Center of Islamic Banking and Economics for the promotion of Islamic Microfinance, he mentioned that in Sub-Saharan Africa more than 50 percent of the population is Muslims, the presence of such a large number of Muslims along with weak financial inclusion and limited Islamic providers, calls for the need of Islamic Microfinance Products to be promoted in the region.
While speaking with the audience, Raza Bashir Tarar emphasised the need for development of Islamic Microfinance for the poverty alleviation especially for the Muslim world. He also mentioned that Microfinance Industry witnessed continued growth and expansion in outreach in the year 2016 and we hope for the best for the coming years as well.
Speaking on the successful, Zubair Mughal - Chief Executive Officer AlHuda Centre of Islamic Banking and Economics highlighted that the assemblage of a large number of institutions on the forum of Islamic Microfinance is a clear indication that it is the ideal and viable solution of poverty alleviation around the globe. He urged the World Bank, IDB, USAID, IFC and other international institutions to include Islamic Microfinance in their priority agenda for financial inclusion, social development and poverty eradication. Forum will be continued for two days along with two days post-event workshop in Nairobi.-PR