Event Aims to Advance Financial Inclusion and Economic Development
AlHuda Centre of Islamic Banking and Economics (CIBE) is organizing the 5th International Interest-Free Banking & Takaful forum in Ethiopia. This event aims to improve the country's economic conditions in both rural and urban areas. It will take place at the Hyatt Regency in Addis Ababa on the 20th – 21st of August 2024, followed by workshops on the 22nd of July 2024.
Over 15 international speakers will discuss topics related to interest-free banking and takaful. The conference will have participants from Ethiopia, other African countries, and international organizations such as central banks, banking and financial sectors, microfinance, and the insurance industry. H.E. Mr. Ahmed Shide, Minister of Finance, Federal Democratic Republic of Ethiopia, and H.E. Atif Sharif Mian, Ambassador, Embassy of Pakistan, Ethiopia, will honor the event.
The event is proudly sponsored by Ethiopian Insurance Corporation and ZamZam Bank, and supported by the Somaliland Banker’s Association (SLBA), Islamic Finance Research Institute Ghana, AL BARAKAH Multi-purpose Cooperative Society Limited, Azerbaijan Fintech Association (AzFina), and Africa Fintech Network. We are also delighted to partner with Ethiopian Airlines and Ethiopian Holidays for this event. Media partners for the event include IFING-MEDIA, Mesofinance Monthly, and Financial IT.
Mr. M. Zubair Mughal, CEO of AlHuda CIBE, expressed gratitude to the supporters and sponsors for their continuous trust and unprecedented support for the event. The event aims to address the challenge of providing financial services to Ethiopia's predominantly rural population through digital solutions. With approximately two-thirds of the population living below the poverty line and 62% employed in the agriculture sector, targeting these groups is crucial for improving financial inclusion in Ethiopia.
Mr. Mughal emphasized that interest-free banking and finance present the best opportunity to uplift the poor. Investing in interest-free banking and finance has the potential to attract foreign investment, leading to enhanced global connectivity, improved job creation, socio-economic development, and poverty alleviation.
The forum aims to achieve several key objectives, such as recognizing significant advancements in Africa's interest-free financial infrastructure, establishing connections between the African interest-free finance industry and the international financial market, showcasing the resilience of interest-free (Islamic) financial markets during recent financial crises, sharing best practices from the international interest-free banking industry with African interest-free finance industry, and evaluating innovations in interest-free financial markets through the expansion of newly developed research-based products.
This event is open to the public with a very low entrance fee. It is highly recommended that more organizations, companies, and banks participate in the forum to fully benefit from this international event in Ethiopia. AlHuda Center of Islamic Banking and Economics (CIBE) is a well-recognized name in the Islamic banking and finance industry for research and provides state-of-the-art Advisory Consultancy and Education through various well-recognized modes viz.
Islamic Financial Product Development, Shariah Advisory, training workshops, Islamic Microfinance and Takaful Consultancies, etc., side by side through our distinguished, generally acceptable, and well-known Publications in Islamic Banking and Finance.
We are dedicated to serving the community as a unique institution, advisory, and capacity building for the last twelve years. The prime goal has always been to stick to the commitment to providing Services in UAE/Pakistan and worldwide. We have so far served in more than 35 Countries for the development of the Islamic Banking and Finance industry.
