10th African Islamic Finance Summit is going to be held in Smiling Cost of West Africa, The Gambia

Islamic Finance is not only a sustainable solution for socio-economic development but for Muslims a religious advantage as well: Muhammad Zubair

(April 28, 2023 (Dubai)): 10th African Islamic Finance Summit (AIFS) is going to be held in The Sir Dawda Kairaba Jawara International Conference Center, The Gambia on 3rd May, it will be followed by two-days post event workshop on 4th and 5th May 2023. The main objective of this event is to designate the significance of Islamic finance, its sustainability, impact on economy and opportunities for Africa. West Africa is the emerging market for Islamic Banking and Finance, mainly dominated by Muslim population and is a combination of Anglo and Francophone countries. Among Anglophone countries Nigeria and Francophone Senegal are the hubs, those are playing a distinguished role. The sponsors for this event are Agib Bank Ltd the pioneer and only Islamic Bank in the Gambia, and Forward Enterprises which is eager to fulfill social responsibilities. The supporting partners for this event are Heeno International, Gambia Chamber of Commerce and Industry, National Association of Cooperative Credit Union Gambia, Egyptian Islamic Finance Association, National Insurance Authority Somaliland, Islamic Finance Research Institute Ghana and Nigerian Insurers Association. The Media Partners for this event are The Standard Newspaper, Micro Capital, IFING Media, Financial Nigeria and International Business Magazine.

The agenda of this event is about a brief introduction of Islamic finance from historical development, regulatory challenges, and opportunities. It will describe how Islamic financial system plays a role for financial inclusion, Shariah compliance governance and framework, and for the implementation of the Shariah audit system to regulate Islamic Financial industry. The significance of Islamic Microfinance, Islamic Agriculture Finance, Fintech, Insurtech, and many advanced tools for Islamic financial industry will be part of it. It will highlight the investment opportunities and significance of Islamic Capital Market and will discuss its need for African Financial Industry growth. AIFS will also recognize the role of African Financial Institutions for the development of Islamic financial system through Shariah compliant avenues. After the Summit there will be a two days post event workshop about Islamic Banking, Islamic Microfinance and Takaful as well.

Muhammad Zubair Mughal Chief Executive Officer AlHuda Centre of Islamic Banking and Economics-United Arab Emirates organizer of this event mentioned that Africa is the second largest destination for Islamic Finance Industry. He said as per the demographic dynamics West Africa is mainly populated by Muslims; Islamic Finance is not only the sustainable way for the development but a fulfilment of religious duty as well. With its dual benefits Africa can build its economic structure through Islamic finance tools.

So far AlHuda Centre of Islamic Banking and Economics has organized the African Islamic Finance Summit in Ethiopia, Kenya, Mauritius, Tanzania and the Gambia. Now we are going to organize this mega conference 2nd edition in Gambia. This conference is the gathering of financial industries like Banking, Insurance, Islamic Microfinance, Funds Management, Agri/Rural Finance, Regulatory Authorities, Government bodies, Ministries, NGO’s, Donor Agencies and Academia. In 2022 this event was held with support of Central Bank of the Gambia, Ministry of Trade, Industry, Regional Integration and Employment of the Gambia and with collaboration of public and private sector institution. For information please visit: https://www.alhudacibe.com/aifs2023/.

About AlHuda CIBE: AlHuda Center of Islamic Banking and Economics (CIBE) is a well-recognized name in Islamic banking and finance industry for research 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 through our distinguished, generally acceptable and 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 remain stick to the commitments providing Services not only in UAE/Pakistan but all over the world. We have so far served in more than 35 Countries for the development of Islamic Banking and Finance industry. For further Details about AlHuda CIBE, please visit: www.alhudacibe.com

For Media Contact:
Ms. Shaguftta Perveen
Manager Communications,
Call: +92 42 35913096 – 98