Coming soon: Islamic Microfinance

Three-day 'Global Islamic Microfinance Forum' held between 8th-10th December 2012, in Dubai World Trade Centre, UAE saw delegates from UAE, Pakistan, India, UK, Bangladesh, USA, UK Bahrain, Yemen, Azerbaijan, Turkmenistan, Kirghizstan, Mauritius, Kenya, Canada, France, Egypt, Philippine, Uganda, Iraq, Nigeria, Sudan along with delegates from other countries brainstorming on the role of Islamic Microfinance in poverty alleviation, Shariah and related issues of Islamic Microfinance Institutions and their solutions.

Representatives from microfinance institutions from 27 countries expressed their intent to unify their efforts for poverty alleviation and social development through Islamic Microfinance.

Speaking on the successful completion of the forum, Zubair Mughal - Chief Executive Officer AlHuda Centre of Islamic Banking and Economics highlighted that the assemblage of a large number of institutions on the forum of Islamic Microfinance is a clear indication that it is the only viable solution of poverty alleviation around the globe.

He urged the World Bank, IDB, USAID, IFC and other international institutions to include Islamic Microfinance in their priority list for social development and poverty eradication; otherwise the achievement of Millennium Development Goals of the United Nations will not be possible.

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