1. CENTRE OF ISLAMIC BANKING
& ECONOMICS
Press Release
Yemen will Host an International Workshop on Islamic Microfinance
Workshop is being jointly organized by Yemen Microfinance Network and AlHuda
Centre of Islamic Banking and Economics, Pakistan
28/08/2012
(Pakistan) Islamic Microfinance is getting appreciation by the whole world for alleviation of poverty and
Muslim and non-Muslim Countries are utilizing it. Microfinance Institutions in Arab Countries are also
providing Microfinance to Muslims which is in accordance with Islamic standards in order to get poor out of
obscurity of poverty. Amongst these Arab Countries, Yemen is at the top of the list with other countries like
Iraq, Syria, Jordan and Egypt.
Due to the escalating popularity of Islamic Microfinance in Arab countries with the intention to increase the
reach of Microfinance Institutions, AlHuda Centre of Islamic Banking and Finance and Yemen Microfinance
Network is going to arrange 2 days training workshop on Islamic Microfinance on 16th & 17th September,
2012 to be held in the Capital City of Yemen - Sana’a, in which different topics like the proper utilization of
Islamic Microfinance for alleviation of poverty in poor countries, Islamic Microfinance Products and their
structure, Shari’ah principles of Microfinance and MicroTakaful would be discussed.
The Chairman of Yemen Microfinance Network, Mr. Mohammed Al Lai has declared the arrangement of this
two days international workshop on Islamic Microfinance, a good step for the Microfinance sector. He said
that Islamic Microfinance is rapidly growing in Yemen and the workshop like this will provide more
awareness about it.
Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics, Mr. Muhammad Zubair Mughal
has said that AlHuda has established a separate department for the promotion of Islamic Microfinance,
named as “Centre of Excellence in Islamic Microfinance” so that awareness, consultancy and training could
be provided to the Microfinance Institutions and in this regard, during this year, workshops will be arranged
in Yemen, Azerbaijan, Nigeria, Kazakhstan, Indonesia and Niger. He further said that the purpose of this
training in Yemen is to make Arab countries aware of the importance and benefits of Islamic Microfinance
which is in accordance with the religious beliefs of Arab Countries because in Arab Countries, people avoid
conventional microfinance due to the factor of interest and remain stuck in poverty. So, Islamic
Microfinance is very much needed to alleviate poverty in Arab countries. It should be noted that in spite of
abundant oil and natural resources in Arab regions, some Arab countries are having poverty in them like
23% people in Iraq, 18% in Iran, 34.8% in Yemen, 13.3% in Jordan, 12.5% in UAE, 28% in Lebanon and 11.9%
in Syria are living under the poverty line.
Head Office: 192- Ahmad Block, Ph: +92-42-35913096-8 E-mail: info@alhudacibe.com
New Garden Town Lahore, Pakistan. Fax: +92 -42-35913056 Website: www.alhudacibe.com