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5th Int’l Interest-Free Banking & Takaful Conference will be held in Ethiopia

Event Aims to Advance Financial Inclusion and Economic Development


CIBE
Press Release

(24 June 2024 Dubai, UAE): AlHuda Centre of Islamic Banking and Economics (CIBE) is honored to organize 5th International Interest-Free Banking & Takaful in Ethiopia. The event is successfully held for many years in Ethiopia for the betterment of the socio-economic conditions of the rural and urban areas of the country. It will be held at Hyatt Regency, Addis Ababa, Ethiopia on 25th – 26th July 2024. The forum will be followed by Post Event Workshops on Operational, Technical and Shariah Aspects of Interest-Free Banking and Takaful on 27th July 2024. More than 20 international speakers would give their valuable contribution in the topics of discussion. The banking and financial industry of Ethiopia and the surrounding areas will actively participate in the conference to gain ample knowledge of the interest-free financial sector and solutions to the escalating problems of the society. This event will be held in association with Ethiopian Reinsurance. Participants are high profile personnel for 20 countries e.g. from central banks, banking and financial sectors of Ethiopia and rest of the African countries, microfinance and insurance industry.

Mr. M. Zubair Mughal, CEO, AlHuda CIBE (the organizers of the event) thanked the supporters and the sponsors in advance for their continuous trust on them and the unprecedented support for the event that is much needed to achieve the milestone. Ethiopia has a largely rural population, which makes access to financial services a challenge and digital solutions ideal. Approximately two third of Ethiopian live on less than the poverty line, with 62% of Ethiopians employed in the agriculture sector, according to World Bank data. Making gains among these groups is key to improving Ethiopians’ financial lives. He said that interest-free banking and finance is the best alternative to change the lives of the poor. Investing in interest-free Banking and Finance could mean greater foreign investment that could result in enhanced global connectivity, improved job creation, socio-economic development and poverty alleviation. 

The main objectives of the forum include e.g. recognizing significant developments in interest-free financial infrastructure of Africa, linkages of African interest-free (Islamic) Finance industry with international financial market, demonstration of the flexibility of interest-free (Islamic) financial markets during recent financial crisis, share the best practices of the international interest-free banking market with African interest-free finance Industry, assessing innovations in interest-free financial markets through the growth of newly developed research based products etc. The event is open for the public with very nominal entrance fee. It is highly recommended that more and more organizations, companies and banks join the forum in order to gain the maximum benefit from this international event in Ethiopia.

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For more information, contact Ms. Shaguftta Perveen, Manager Communications, at info@alhudacibe.com

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