11th Global Islamic Microfinance Forum Ends

The 11th Global Islamic Microfinance Forum was successfully concludedat Metropolitan Hotel Dubai, UAE under the patronage of AAOIFI Bahrain. 

DUBAI (UAE): The 11th Global Islamic Microfinance Forum was successfully concludedat Metropolitan Hotel Dubai, UAE under the patronage of AAOIFI Bahrain. The purpose of that forum was to promote, strengthen and unite the organizations of Global Islamic Microfinance Forum (IsMF) with the theme of financial Inclusion, outreach strategies & innovations. Eminent Speakers and industry professionals from well serving organizations related to Microfinance, Islamic microfinance, micro insurance and NGOs participated in the event, says a Press release.

The aim of the forum was to discuss the financial Inclusion, outreach strategies & innovations by gathering stakeholders under one roof. The forum was organized by AlHuda Centre of Islamic Banking and Economics in association with Pakistan Microfinance Network and IMFN-International Islamic Microfinance Network and Wings Media. The event is sponsored by Akhuwat Pakistan, Bank of Punjab, Innovation Biscuits Pakistan, and PPCBL Pakistan.

The event supporters include Association of Microfinance Organizations of Tajikistan (AMFOT), MicroLab Association, Association of Microfinance Institutions in Rwanda (AMIR), Fintech Association of Nigeria, Nigerian Microfinance Platform, Abuja Chamber of Commerce and Industry, National Association of Microfinance Banks. The event media partners include Financial IT, Islamic Finance, MicroCapital, IFING MEDIA, and WebTV.

AlHuda arranged an impressive lineup of speakers from different countries with the revealing sessions on the subject matter to explore more options for Islamic Microfinance industry. Dr. Amjad Saqib, Founder of Akhuwat Pakistan inaugurated the forum by saying that Islamic microfinance is the need of the time and this can be used as a weapon for the poverty alleviation. He further explained how Akhuwat model and different products are playing its role to alleviate the poverty in Pakistan. He also appreciated the efforts of AlHuda Centre of Islamic Banking and Economics.

Dr Amjad Saqib, highlighted the ways of poverty alleviation through qard e hasna in Islamic microfinance through which Akhuwat is providing small loans to more than 5 lac people across Pakistan. The services of Akhuwat, Pakistan is not only limited to Pakistan rather in other countries of the world. The research on Akhuwat Model in different universities of the world is the best example of it.

He further added that poverty is a world phenomenon and mostly growing in the Muslim countries. It is recommended that we chalk an international strategy to alleviate poverty from Muslim world through the means which could be near to the Islamic traditions and religious norms and Islamic microfinance is the best solution of that.

Addressing to the inaugural session, the Guest of Honors of the Ceremony were Atty. Ubaida C. Pacasem, CPA Minister – Ministry of Finance, and Budget and Management Member of the Parliament – Bangsamoro Transition Authority, Bangsamoro Autonomous Region in Muslim Mindanao, Philippines, Atty. Paisalin Tago, CPA Minister, Minister of Transportation and Communications, Republic of the Philippines, Edouard Bizumuremyi, Minister Counsellor, General Consulate of the Republic of Rwanda, UAE, and Syed Mohsin Ahmed, Chief Executive Officer, Pakistan Microfinance Network, Pakistan.

The Forum is followed by Two-Day “Post Event Workshop on Practical Aspects of Islamic Micro, Agriculture & Rural Finance and Exposure Visit” dated for November 23-24, 2022. This Workshop covered a variety of allied topics. Global Islamic Microfinance Forum