Press Release-African & Central asian roadshow on islamic banking & finance organizing by AlHuda Centre of Islamic Banking & Economics

1. Center of Islamic Banking and Economics
AlHuda Center of Islamic Banking and Economics
Head Office: P.O Box. 120867, Dubai - U.A.E, Ph: 00971 55 938 99 00
Pakistan Office: 117-G3, Johar Town, Lahore – + 92 (0)42 - 35913096 – 8
Email: info@alhudacibe.com Web: www.alhudacibe.com
Press Release
AlHuda (CIBE) vows to initiate an African & Central Asian Roadshow on Islamic Banking &
Finance
9th
February, 2017 (Dubai): Al-Huda Centre of Islamic Banking and Economics (CIBE) is committed to
hold an African & Central Asia Roadshow on Islamic Banking and Finance starting from Tanzania on
March, 2017 with a mega event called 4th
African Islamic Finance summit, followed by an African Takaful
forum in Nigeria and specialized training program in Kazakhstan in April,2017. The series of these events
will cover 8 African and 5 Central Asian countries i.e. Tanzania, Nigeria, Uganda, Mauritius, Cameroon,
South Africa, Kenya and Morocco and on the other hand Kazakhstan, Tajikistan, Uzbekistan, Kyrgyzstan
and Azerbaijan respectively. Road show is bound to get an end by organizing event on Islamic Agricole &
Rural Finance in Kenya by October 2017. African & Central Asian regions can make rapid progress
seeking benefits from international Islamic banking practices. Apart from Islamic banking and finance
Takaful, Sukuk, Islamic Funds, Islamic Microfinance and various other relevant topics are to be discussed
duringthe programs.
Addressing to the announcing ceremony of the Road Show, Muhammad Zubair Mughal, Chief Executive
Officer, Al-Huda CIBE expressed that due to sharp declined trends in Oil prices, slow economic pace &
Arab spring, the trend of the Islamic Banking & Finance had been slow paced in 2016 in Middle East and
Arab region, while a sufficient development had been recorded in Africa, Central Asia & Far East. To
know the overview of Islamic Finance Industry, we can divide Islamic Finance industry into five major
components e.g. Islamic Banking, Sukuk, Islamic Fund/Asset Management, Takaful & Islamic
Microfinance. Islamic Banking is the greatest contributor to Islamic Finance Industry, which contributes
80% to the total $ 2.3 trillion of Islamic finance industry, while Sukuk contributing 14% volume to Islamic
Finance industry and ranked as second largest contributor, Islamic Fund/Asset management Industry
with 3% is ranked as 3rd while Takaful Industry contributing 2% with slow pace and Islamic Microfinance
contributing 1% stands as the last. By 2017, the total volume of Islamic Finance Industry is expected to
be USD 2.7 trillion.
While talking about African & Central Asian road show, he further indicates that how this roadshow can
be beneficial and helpful in promotion of Islamic Finance in both regions. Many new Islamic Finance
markets are seen to be emerging on the horizon in the world. If we see on the regional basis, in East
Africa, we find that Uganda has recently passed an Islamic Financial bill through Parliament. Islamic
banking & Finance in Kenya and Tanzania is already flourishing very well. Morocco & Tunisia are
emerging markets in North Africa while Nigeria, Senegal, Mauritania, Ivory Cost in West Africa has an
organized system of Islamic Finance while Sukuk is also strengthening its roots in these regions. As far as
Central Asia is concerned, this year will prove to be a better year with respect to the previous year. The
main reason is the increasing tendency of Russia towards Islamic Banking & Finance; the countries in
central Asiaare closertoRussiain Banking& Finance despiteitshavingbeenseparatedfromUSSR.

2. Center of Islamic Banking and Economics
AlHuda Center of Islamic Banking and Economics
Head Office: P.O Box. 120867, Dubai - U.A.E, Ph: 00971 55 938 99 00
Pakistan Office: 117-G3, Johar Town, Lahore – + 92 (0)42 - 35913096 – 8
Email: info@alhudacibe.com Web: www.alhudacibe.com
He further added saying that besides the promotion of Islamic Banking and Finance, the purpose of the
road show is also to acknowledge the need of giving hype to the system beyond any political and
religious refrains. Specialized training workshops on various relevant topics will also be part of this two
nation’s roadshow like Takaful workshop in Kazakhstan, Islamic banking and finance workshop in
Tajikistan, Islamic Microfinance in Nigeria, Islamic Agricole and Rural Finance in Kenya, Takaful workshop
in Mauritius. The core objective of the entire program is to strengthen the foundations of Islamic
banking and finance in African & Central Asian region further to give support to the progress of Islamic
mode of bankingand finance inthe region.
About AlHuda CIBE:
AlHuda Center of Islamic Banking and Economics (CIBE) is a well-recognized name in Islamic banking and
finance industry for research, advisory and capacity building over the last eleven years. The prime goal
has always been to stick to the commitments 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
throughour distinguished,generallyacceptableandknownPublications onIslamicBankingandFinance.
AlHuda CIBE, as a unique institution with remarkable services, is dedicatedly serving the community not
only in UAE/Pakistan but all over the world and has served in more than 35 countries for the
developmentof IslamicBankingandFinance industrysofar.
For furtherdetailsaboutAlHudaCIBE,please visit: www.alhudacibe.com
For MediaContact:
Ms. ShagufttaPerveen
Manager Communications,
info@alhudacibe.com
Call: +92 42 35913096 - 8