Takaful is new Destination for Sustainable Financial World: M. Zubair Mughal, CEO AlHuda CIBE

(March 19, 2021 (Dubai)): AlHuda Centre of Islamic Banking and Economics along with its multilateral partner ICD- Islamic Corporation for the Development of the Private Sector and in association with Ethiopian Reinsurance conducted Global Takaful Forum on March 18 -20, 2021 at Hyatt Regency Hotel, Addis Ababa, Ethiopia. Delegates from 13 countries participated in-order to gain incredible knowledge and operational processes of Takaful. The three core objectives of this forum were the knowledge for human resource, analysis of problems faced by Takaful operators in order to deepen the financial inclusion and the provision of opportunities to collaborate with the industry leaders that will surely build a solid platform for sharing experiences in an appropriate and adequate manners. It is definitely going to support diligent efforts of the insurance regulators and practitioners in the sector. The growth of Takaful is based on the solutions of above key issues.

H.E. Shozab Abbas, Ambassador of Pakistan to Ethiopia appreciated the efforts of AlHuda CIBE and commended the CEO Muhammad Zubair Mughal and his entire team for the achievement within a very short period of time. He congratulated the team of AlHuda CIBE for the drive and the excellence of commitment to promote Takaful round the globe.

Mr. Muhammad Zubair Mughal, CEO, AlHuda CIBE acknowledged the chief guest, guests of honors, delegates and speakers for their participation in this important event. He said that Takaful is emerging as an essential tool for financial inclusion globally. It is the need of the time to spread the knowledge of Takaful and its operational skills within the country and across the world so that the people would learn it so well in order to adopt it instantly for the betterment of the community and economic sustainability. The prospects and sustainability of the industry greatly depends on the ability of operators to develop the right products that suit the needs of the identified market, providing adequate awareness to realize delivery of services and meeting expectations of the targeted audience. Takaful is an emerging industry which is spreading across Western, Central Africa and other countries which are replicating the experience of Ethiopian Takaful footprints. More than 400 Takaful companies are efficiently operating across the globe and around 500 insurance companies are actively working in African region and Takaful market is also rapidly developing in the African region. We are highly obliged to all the worthy delegates and speakers for representing different countries and sharing their valuable knowledge and experience to promote Takaful industry. We hope that the forum helps spreading the voice that is much important need of the hour.

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 since 2005. 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