(Dubai, UAE & Maputo, Mozambique – June 2026): AlHuda Centre of Islamic Banking and Economics (CIBE), a globally recognized advisory and consultancy firm in Islamic banking and finance, has entered into a Strategic Partnership Agreement (SPA) with PSICAHSP GROUP – MOZAMBIQUE, a prominent consultancy and advisory firm specializing in strategic planning, international cooperation, and financial sector development in the Republic of Mozambique. The agreement was formalized in June 2026 to strengthen collaboration in the development and promotion of Islamic banking and financial inclusion across Mozambique and the broader Southern African region.
This strategic alliance aims to foster the development of Shariah-compliant financial solutions, enhance capacity building within the Mozambican financial sector, and support advisory services for the integration of Islamic finance into the country’s financial system. The partnership will focus on key areas including advisory and consultancy, education and training, and joint events and awareness programs.
Through this collaboration, both organizations intend to leverage their expertise to introduce innovative Islamic banking products, conduct feasibility studies, provide strategic planning and Shariah advisory services, and support the regulatory and institutional framework for Islamic finance in Mozambique. The agreement also emphasizes mutual promotion, knowledge sharing, and joint efforts in organizing workshops, seminars, and high-level banking forums.
Mr. Muhammad Zubair Mughal, Chief Executive Officer of AlHuda CIBE, stated:
“We are pleased to partner with PSICAHSP GROUP – MOZAMBIQUE to introduce and scale Islamic banking services in Southern Africa. This collaboration will help in developing sustainable and inclusive financial solutions aligned with Shariah principles, ultimately contributing to economic growth and financial inclusion in Mozambique and the wider region.”
Mr. Apolenário Hipólito Salazar Portugal, Executive Director of PSICAHSP GROUP – MOZAMBIQUE, expressed:
“This partnership marks a significant step towards enhancing our capabilities in Islamic banking. By working closely with AlHuda CIBE, we aim to introduce innovative financial services and build strong human capital to serve our banking sector and communities better. We are confident that this collaboration will bring world-class Islamic finance expertise to Mozambique and contribute to the development of a more inclusive financial ecosystem in the country.”
The agreement will initially remain effective for one year, with the possibility of renewal upon mutual consent. Both parties will work independently while maintaining a strong collaborative relationship to achieve shared objectives in promoting Islamic finance globally. The agreement confirms that no joint venture is created, and both parties will act as independent entities.
About AlHuda CIBE
AlHuda Centre of Islamic Banking and Economics (CIBE) is a prominent global institution providing advisory, consultancy, education, and research services in Islamic banking and finance. Since its establishment in 2005, AlHuda CIBE has been actively contributing to the development of the Islamic finance industry in more than 35 countries through its innovative solutions, training programs, and publications.
About PSICAHSP GROUP – MOZAMBIQUE
PSICAHSP GROUP – MOZAMBIQUE is a leading consultancy and advisory firm based in Mozambique, specializing in strategic planning, international cooperation, financial sector development, and social innovation. The firm is committed to supporting financial institutions and organizations in integrating modern financial practices, including Islamic banking, and contributing to the sustainable economic development of Mozambique.
For Media Contact:
AlHuda CIBE
Ms. Shaguftta Perveen
Manager Communications
Email: info@alhudacibe.com
Phone: +971 52 865 5523