Bookmark and Share
FOLLOW US:        
Sukuk News
Indonesia’s BMT Microfinance system should be introduced Globally: Zubair Mughal
In Indonesia 5,500 BMT’s are struggling under Islamic Microfinance to eliminate poverty.
8th May, 2013
(Lahore) Baittul Maal wa Tamwil (BMT) Microfinance system which is being working in Indonesia should be introduced all-around the globe as a best system to eliminate poverty which will boost-up Islamic Microfinance industry worldwide, These thoughts were expressed by Chief Executive Officer of Al-Huda Center of Islamic Banking and Economics Mr. Muhammad Zubair Mughal in his address in an International conference for “ Empowering SMEs for Financial Inclusion and Growth” held at Jakarta – Indonesia, which was organized by a well known financial institution “Sampoerna Group” of Indonesia in which large number of professionals related to Microfinance, SME, Banking and other Financial institutions participated.

During his address Mr. Muhammad Zubair Mughal Said that, Islamic financial industry of Indonesia with having 11 complete Islamic Banks, 24 Islamic windows, 43 Takaful Institutions, 16 Islamic Finance companies and more than 5,500 BMT’s holds a remarkable position in the world. He said, BMT’s in Indonesia has played an important role for the alleviation of poverty from country by adapting methods of Islamic Microfinance system, which is a clear example of success of this system But unfortunately, BMT’s methods are being limited to Indonesia only, but it is the need of the time that this system should be introduced in other countries of world along with Indonesia which will help in introducing Islamic Microfinance system in other countries of world and new Islamic Microfinance methods of BMT will be available along with Murabaha, Salam, Mudarabah, Qarz-e-Hasna and Waqf to Islamic Microfinance Institutes.

He further added that, to involve poor in financial inclusion Islamic Microfinance is very important along with branchless banking, Product innovation and financial literacy etc Because in Muslim communities major reason of poverty is to avoid interest based Microfinance and in order to bring Muslims in financial inclusion then such a Islamic Microfinance system need to be introduced which will be according to the Muslims religious and economic principles otherwise poverty will increase due to financial excluding of Muslims, which can be estimated from present facts and figures that half of world’s poverty lies in Muslim countries.

He further added, to gather Islamic Microfinance institutions and professional of the world on single plate form, the Global Islamic Microfinance Forum is going to be held on October 16, 2013 in Dubai, to compile the strategy to strengthen Islamic Microfinance industry.
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