MICROFINANCE EVENT: 8th Global Islamic Microfinance Forum; November 25-26, 2018; Dubai, UAE

Event Summary: The goal of the Global Islamic Microfinance Forum is to increase awareness of Islamic finance as a viable option to help people, particularly those with low incomes. Instead of using conventional interest payments, Islamic lenders employ concepts such as profit and loss sharing.

The forum will include sessions on funding challenges, the Qarz E-Hassan model of Islamic microfinance, potential impacts from “financial inclusion through Islamic Microfinance and FinTech,” and the relationship between global development and scaling up Islamic finance. A two-day workshop will follow the forum on “Islamic Microfinance – Operations, Practices and Outreach.”

Background on Organizers: AlHuda Center of Islamic Banking and Islamic Economics (CIBE) is a UAE-based nonprofit organization that specializes in research, training and consulting in the Islamic microfinance industry. The organization also provides technical assistance in the area of Shariah law, organizes distance learning programs and publishes a monthly newsletter entitled Islamic Banking and Finance News.

Akhuwat is a Pakistan-based microfinance institution (MFI) that was established in 2001. As of 2016, Akhuwat reports to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 158 million, a gross loan portfolio of USD 125 million and 820,000 active borrowers. The institution does not accept deposits.

Cost: The cost to attend the forum is USD 1,495 for international participants and PKR 55,000 (USD 446) for Pakistani residents. Additional fees for the post-forum workshop are USD 995 and PKR 40,000 (USD 325), respectively, for international and Pakistani participants.

Event Website: http://www.alhudacibe.com/gimf2018/

For additional information, you may contact AlHuda CIBE at +971 56 928 6664 or info[at]alhudacibe.com.

By Michelle Fleming, Research Associate

Sources and Additional Resources

AlHuda CIBE homepage
http://www.alhubacibe.com

Event agenda
http://www.alhudacibe.com/gimf2018/images/Event-Agenda.pdf

Akhuwat’s financial data
http://www.akhuwat.org.pk/wp-content/uploads/2017/10/AuditReportfortheyearendedJune302016.pdf

MicroCapital on the 2017 Global Islamic Microfinance Forum
https://www.microcapital.org/microfinance-event-akhuwat-alhuda-center-islamic-banking-economics-hosting-7th-global-islamic-microfinance-forum-november-24-25-2017-istanbul-turkey/

MicroCapital on the 2016 Global Islamic Microfinance Forum
https://www.microcapital.org/microfinance-event-alhuda-cibe-akhuwat-to-host-sixth-global-islamic-microfinance-forum-november-8-11-2016-nairobi-kenya/

MicroCapital Brief: AlHuda, Azerbaijan’s SER Agree to Promote Islamic Finance in the Caucasus https://www.microcapital.org/microcapital-brief-alhuda-azerbaijans-ser-agree-promote-islamic-finance-caucasus/

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