Islamic finance is not confined to Middle East or Muslim countries rather it has gripped its roots in European countries and America as well. And the determination and efforts to become financial hub of London is the distinct example of the promotion of Islamic Finance. There is no denying the fact that the organizations of Islamic Finance are rapidly growing in European countries and France is prominent amongst them. AlHuda Centre of Islamic Banking and Economics and Solutions d’Acce’s a I’Assurance et la Finance Islamiques (SAAFI) have signed an MoU in Paris - France that was signed by Mr. Muhammad Zubair CEO, AlHuda CIBE and Mr. Ezzedine Ghlamallah Director, SAAFI.

1. CENTRE OF ISLAMIC
BANKING & ECONOMICS
Head Office: 160 – B Ahmed Block, Ph: +92-42-35913096-8 E-mail: info@alhudacibe.com
New Garden Town Lahore, Pakistan. Fax: +92 -42-35913056 Website: www.alhudacibe.com
Press Release
MoU signed to promote Islamic Finance in France
AlHuda CIBE and SAAFI France will jointly initiate various projects
17th
April, 2014
(Lahore) Islamic finance is not confined to Middle East or Muslim countries rather it has gripped its roots in
European countries and America as well. And the determination and efforts to become financial hub of
London is the distinct example of the promotion of Islamic Finance. There is no denying the fact that the
organizations of Islamic Finance are rapidly growing in European countries and France is prominent
amongst them. AlHuda Centre of Islamic Banking and Economics and Solutions d’Acce’s a I’Assurance et la
Finance Islamiques (SAAFI) have signed an MoU in Paris - France that was signed by Mr. Muhammad Zubair
CEO, AlHuda CIBE and Mr. Ezzedine Ghlamallah Director, SAAFI.

2. CENTRE OF ISLAMIC
BANKING & ECONOMICS
Head Office: 160 – B Ahmed Block, Ph: +92-42-35913096-8 E-mail: info@alhudacibe.com
New Garden Town Lahore, Pakistan. Fax: +92 -42-35913056 Website: www.alhudacibe.com
While addressing to the ceremony, Muhammad Zubair said that France is the country that identifies the
largest Muslim community in Europe with nearly 6 million Muslim residents that is 9% of the total
population of France. It is to be noted that Islamic finance is not only the interest of Muslim population
rather non Muslim are taking good interest in Islamic finance. There are various non Muslim countries
where Islamic banking and finance is providing their customers state-of-the-art services above all religious
differences.
He added that according to this MoU, both organizations will work together to strengthen the abilities of
Islamic banking and finance in France, and to provide technical and Shariah advisory, trainings and other
services. He said that AlHuda CIBE is keeping an eye on Islamic banking and finance of European countries
and AlHuda CIBE and SAAFI will mutually conduct training workshops on Islamic banking and finance on
23rd
& 24th
June’ 2014 in Paris.
In the MoU singing ceremony, Mr. Ezzedine Ghlamallah said that Takaful, along with Islamic Banking, is also
growing with rapid pace in Europe and particularly in France where it has enough potential. He added that
AlHuda CIBE’s entry in Europe is a constructive initiative which will strengthen the diversified Research,
Trainings and Shariah advisory in Islamic Banking and Finance in European countries i.e. Germany, France
and Switzerland and it will definitely result in the ultimate growth of Sukuk, Takaful and Islamic
Microfinance Industry.