WELCOME TO OUR WEBSITE A PRODUCT OF ALHUDA CIBE
 
 
Bookmark and Share
FOLLOW US:        
 
 
Sukuk News
 
Poverty in Muslim World is Rapidly Increasing: Zubair Mughal
Poverty can easily be driven away through Islamic Microfinance
 
Poverty in Muslim World is Rapidly Increasing: Zubair Mughal(Tunis) Half of global poverty reside in Muslim world while the Muslim population is 24% of the total global population, if the dangerously increasing poverty in the Muslim community is not controlled soon then it will be alarming. These concerns were addressed by Muhammad Zubair Mughal, Chief Executive Officer, AlHuda Centre of Islamic Banking and Economics while speaking at Islamic Microfinance Symposium that was held at Tunis – Tunisia which was organized by Tunis Association of Islamic Economics with association of Islamic Development Bank (IDB) and German Donor Agency GIZ.

He mentioned the various causes of rapidly increasing poverty in the Muslim world i.e. lack of education, lack of employment political instability and so on. But on the other hand, the main hitch is unavailability of the proper financial products which are in line with the Muslim’s religious values and social norms. Micro financing is not utilized by Muslim population due to interest and thus is excluded from financial inclusion. On the other hand, Muslim world can be led out of the poverty by extending financial inclusion through Islamic microfinance. He said that the according to the statistical information of multilateral development agencies, 300 million people were graduated from Micro to SME level in past year, and the countries mentioned in the list are China, India, Brazil and Chili etc. but when we look at the enlisted countries we will come to know that then countries mentioned in the list are not Muslim and by this we will come to know that the poverty is decreasing in non Muslim countries and increasing in Muslim world.

He further added that unfortunately, Islamic microfinance is not given the proper place in the poverty alleviation strategies of International development agencies (e.g World Bank, UNDP, IFC, USAID etc) in the way it should have been given. Islamic microfinance is just 1% of the total micro financing of the world that is just 1 Billion USD. He said that there is no religion of poverty but religion plays an important role in poverty alleviation. This is the reason; Islamic microfinance should be given a proper place in the modes of poverty alleviation through which both Muslims and non-Muslims can take benefit. He added that there are various non Muslim countries where Islamic micro fiancé has been used so effectively to alleviate poverty.

Experts from 15 countries including Morocco, Kenya, Yemen and Pakistan had taken part in the symposium. A mutual declaration about the legal frame work of Islamic microfinance was given at the end of the event.
 
Sukuk News
  • Apex Islamic Micro Finance leaders gathered at GIMF in Malaysia. more..

  • AlHuda CIBE has long term vision for East African Islamic Finance Market. more..

  • 5th Global Islamic Microfinance Forum will be held in Malaysia more..

  • Islamic Finance is an Ideal tool of Financial Inclusion more..

  • Funding Sources for Islamic Microfinance Institutions more..

  • West Africa an Emerging Market of Islamic Finance: Zubair Mughal more..

  • AlHuda CIBE Sign agreement with Islamic Chamber of Commerce (ICCIAU) to promote Islamic Banking in Uganda more..

  • Islamic Finance is emerging as an alternative source of financial sustainability in Europe more..

  • Halal Research Council will provide services to promote Halal Industry in Nigeria. more..

  • Pakistan would be the Halal Hub of future: Zubair Mughal more..

  • Takaful perceived as having significant potential in Tanzania. more..

  • Islamic Banking and Finance has progressive outlook in 2015 more..

  • AlHuda CIBE set to enter into Uganda Market more..

  • Japan can get better financial positioning in Int'l market through Islamic Finance more..

  • 4th Global Islamic Microfinance Forum Came to an End in Dubai more..

  • Global Islamic Microfinance Forum Ready to Set New Standards more..

  • Islamic Microfinance is an effective tool of Financial Inclusion more..

  • Tanzania has Big Potential for Islamic Finance: Muhammad Zubair Mughal more..

  • A New Initiative for the Development of Islamic Microfinance more..

  • Global Islamic Microfinance Forum to be organized in Dubai more..

  • Al Huda CIBE extending its services to the USA market more..

  • AlHuda CIBE Eyes African Islamic Finance Market more..

  • Pakistan and Sudan Leading in Islamic Microfinance Industry more..

  • MoU signed to promote Islamic finance in France. more..

  • SESRIC- OIC and AlHuda CIBE sign MoU more..

  • Poverty in Europe can be reduced by Islamic Microfinance more..

  • Poverty in Muslim World is Rapidly Increasing: Zubair Mughal more..

  • AlHuda CIBE will Organize African Islamic Banking and Finance Road Show more..

  • Arab countries can alleviate poverty through Islamic microfinance more..

  • 2014 will be promising for Islamic Finance Industry more..

  • Tunisia has big potential for Islamic Finance: Zubair Mughal more..

  • A New Venture Established to Strengthen Islamic Finance in France and USA more..

  • Islamic Microfinance should be Introduced Internationally: Dr. Fatima Al-Blooshi
    Three days 3rd Global Islamic Microfinance Forum ended in Dubai more..

  • The Global Islamic Microfinance Forum Ready to Set New Standards
    The Forum will determine the Standards and strategic policies more..

  • A Big Question Mark on Islamic Finance Industry
    Muhammad Zubair Mughal - zubair.mughal@alhudacibe.com more..

  • Islamic Microfinance Research Study initiated in Yemen - 8th May, 2013
    Existing demand and future trends of Islamic Microfinance will be determined: Zubair Mughal. more..

  • Islamic Microfinance Market size touches $1 billion - 17th April, 2013
    Islamic Microfinance industry is rapidly progressing due to its superior performance for poverty alleviation. more..

  • The Global Islamic Microfinance Forum will be held in U.A.E - 05/09/2012
    The Forum will determine the Standards and policies for sustainable Islamic Microfinance development. more..

  • Yemen will Host an International Workshop on Islamic Microfinance - 28/08/2012
    Workshop is being jointly organized by Yemen Microfinance Network and AlHuda Centre of Islamic Banking and Economics, Pakistan more..
 
Upcomming Events
 
Other Services
-----------------------------------------------------------
 
 
 
Copyrights © All Right Reserved 2018 Alhudacibe.com