6th Global Islamic Microfinance Forum will be held in Kenya

  • News Code : 593
  • News source: http://en.hawzahnews.com

Summary Kenya Forum will be Jointly Organized by AlHuda- CIBE and Akhuwat for Poverty Alleviation & Social Development.


The 6th Global Islamic Microfinance Forum (GIMF) will convene in Nairobi - Kenya on 8th - 9th November, 2016 to explore and discuss innovative financial inclusion strategies that can create clear pathways for poverty alleviation.

Mr. Muhammad Zubair Mughal the Chief Executive Officer of AlHuda – CIBE (AlHuda Centre of Islamic Banking & Economics ) said the 6th GIMF will explore how new and effective strategies (according to Shariah and compliant procedures) be formulated to alleviate poverty and for economic sustainability.

While narrating the theme and core purpose of the 6th GIMF, Mr. Muhammad Zubair Mughal echoed his thoughts, saying that poverty is considered one of the common global issues, but most alarming situation is that a major chunk of poverty exists in Muslim countries, as it is considered as the number one agenda of “financial inclusion”. According to the most recent estimates, 46% of poor populations resides in Muslim countries, where poverty trends are alarming.

In order to reduce poverty alleviation in Muslim populations, a proper platform is needed to execute, valuing their cultural and social values, which is possible only through Islamic Microfinance. The purpose of this forum is to gather the stakeholders under one platform, to find out the remedy to these problems to give a strong support to the rapidly increasing Islamic Microfinance industry.

 Participants from almost 35 different countries are expected to participate in the forum, wherein a large variety of topics will be covered including; Islamic Microfinance, Financial Inclusion, Rural development, Use of IT in Microfinance, Micro Takaful, Rural credit, Small business problems and solutions, Shariah Principles and General Economic Development.

Dr. Amjad Saqib the Executive Director, Akhuwat also highlighted the objective of this forum, by articulating that the primary objective of this 6th GIMF, is to assist the poor by developing a welfare society exploring the best techniques from different modes of poverty alleviation practiced globally.

 He presented the Akhuwat Model as a successful case and declared that Akhuwat has so far distributed almost Rs. 25 Billion among 1,323,586 families through “Qarz-e-Hassan” which in itself is a true model of Islamic Welfare oriented Microfinance system.