Global Islamic Microfinance Forum (GIMF) will be organized jointly by AlHuda Centre of Islamic Banking and Economics (CIBE) and AKHUWAT on November 01-02, 2014. Dr. Amjad Saqib, Executive Director, AKHUWAT inaugurated the logo of GIMF in Logo Inauguration Ceremony at Crown Plaza Hotel Dubai yesterday, numerous people from financial, Banking and Microfinance industry took part in this enormous ceremony. Speaking to the public, Dr. Amjad Saqib said that Islamic microfinance is rapidly increasing all around the world where innumerous people are fulfilling their financial needs free from interest and flourishing their small businesses incredibly. The purpose of this 4th GIMF is to unite Islamic Microfinance Industry under one roof. Presenting AKHUWAT as a role model, he added that it is an organization that was started from 10,000 and now has reached to 9 million and its fruits are reaching to approximately 500,000 families across the country and it is a prominent example of best practices of Islamic microfinance.

1. CENTRE OF ISLAMIC
BANKING & ECONOMICS
Head Office: 160 – B Ahmed Block, Ph: +92-42-35913096-8 E-mail: info@alhudacibe.com
New Garden Town Lahore, Pakistan. Fax: +92 -42-35913056 Website: www.alhudacibe.com
Press Release
Global Islamic Microfinance Forum to be organized in Dubai
Logo Inauguration Ceremony held in Dubai that will be organized on
November 01 – 02’ 2014
22-07-2014
(Lahore) Global Islamic Microfinance Forum (GIMF) will be organized jointly by AlHuda Centre of
Islamic Banking and Economics (CIBE) and AKHUWAT on November 01-02, 2014. Dr. Amjad Saqib,
Executive Director, AKHUWAT inaugurated the logo of GIMF in Logo Inauguration Ceremony at
Crown Plaza Hotel Dubai yesterday, numerous people from financial, Banking and Microfinance
industry took part in this enormous ceremony. Speaking to the public, Dr. Amjad Saqib said that
Islamic microfinance is rapidly increasing all around the world where innumerous people are
fulfilling their financial needs free from interest and flourishing their small businesses incredibly.
The purpose of this 4th
GIMF is to unite Islamic Microfinance Industry under one roof. Presenting
AKHUWAT as a role model, he added that it is an organization that was started from 10,000 and
now has reached to 9 million and its fruits are reaching to approximately 500,000 families across
the country and it is a prominent example of best practices of Islamic microfinance.

2. CENTRE OF ISLAMIC
BANKING & ECONOMICS
Head Office: 160 – B Ahmed Block, Ph: +92-42-35913096-8 E-mail: info@alhudacibe.com
New Garden Town Lahore, Pakistan. Fax: +92 -42-35913056 Website: www.alhudacibe.com
Talking about the purpose and motives of 4th
Global Islamic Microfinance Forum, Mr. Muhammad
Zubair Mughal, Chief Executive, AlHuda Centre of Islamic Banking and Economics said that poverty
is a worldwide phenomenon and unfortunately, spreading in Muslim countries drastically. Almost
half of the world’s poor population reside in Muslim world while Muslim constitute 26% of the
total world’s population, its mean poverty in Muslim world increasing very rapidly, the main
reason it is avoidance of interest among Muslims as Interest is strictly prohibited in Islam and on
the other hand, conventional microfinance has drastically failed to alleviate poverty in Muslim.
Thus, Islamic microfinance is evidently essential so that Muslim and non Muslim both can take the
maximum advantage of this extremely fruitful product. He said that Islamic microfinance is going
through big challenges e.g. non availability of Shariah Compliant funds, misconceptions regarding
Islamic microfinance, lack of man power, regularity and Shariah problem. The purpose of this
forum is to gather the stakeholders under one platform to find out the remedy to these problems
to give a strong support to rapidly increasing Islamic Microfinance industry.
He added that delegates from more than 27 countries had participated in 3rd
GIMF and it is
anticipated that more than 35 countries’ participants will be coming into this forum in which
Multilateral Organizations, Development Agencies, Microfinance, Islamic microfinance, NGOs,
conventional and Islamic banks, philanthropist and other financial organizations are included. On
the first two days of the forum Islamic microfinance its challenges and opportunities, new
products, Micro Takaful, IT integration, Micro saving, Entrepreneur Development, and other
prominent topics will be discussed in detail. On the next two days, a detailed discussion will be
made on growth of Islamic microfinance and its marketing strategies#