Your SlideShare is downloading. ×
Press Release on Tunisia has big potential for Islamic Finance (English)
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Saving this for later?

Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime - even offline.

Text the download link to your phone

Standard text messaging rates apply

Press Release on Tunisia has big potential for Islamic Finance (English)

146
views

Published on

There are big opportunities to promote Islamic finance in Tunisia which can be the global hub of Islamic Finance for French speaking countries, said by Muhammad Zubair Mughal, Chief Executive Officer …

There are big opportunities to promote Islamic finance in Tunisia which can be the global hub of Islamic Finance for French speaking countries, said by Muhammad Zubair Mughal, Chief Executive Officer - AlHuda Centre of Islamic Banking and Economics (CIBE) in an international conference on “Finance and Enterprise” jointly organized by World Bank, International Monetary Fund (IMF), International Finance Corporation (IFC) and European Bank for Reconstruction and Development in Sousse – Tunisia, which was attended by the Prime Minister of Tunisia including many government ministers, heads and senior delegates from Central Banks, World Bank, IMF, IFC, European Bank and other dignitaries from different international organizations.

Published in: Economy & Finance

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
146
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. CENTRE OF ISLAMIC BANKING & ECONOMICS Press Release Tunisia has big potential for Islamic Finance: Zubair Mughal Tunisia would be the global hub of Islamic Finance for French speaking countries 16th December, 13 There are big opportunities to promote Islamic finance in Tunisia which can be the global hub of Islamic Finance for French speaking countries, said by Muhammad Zubair Mughal, Chief Executive Officer AlHuda Centre of Islamic Banking and Economics (CIBE) in an international conference on “Finance and Enterprise” jointly organized by World Bank, International Monetary Fund (IMF), International Finance Corporation (IFC) and European Bank for Reconstruction and Development in Sousse – Tunisia, which was attended by the Prime Minister of Tunisia including many government ministers, heads and senior delegates from Central Banks, World Bank, IMF, IFC, European Bank and other dignitaries from different international organizations. Muhammad Zubair Mughal, being the guest of honor, during his address he stated that international financial crisis can be addressed in a better way through Islamic Finance and such financial crisis could have not been happened if Islamic financial system was followed and implemented at that time, he said Head Office: 160 - B Ahmad Block, New Garden Town Lahore, Pakistan. Ph: +92-42-35913096-8 Fax: +92 -42-35913056 E-mail: info@alhudacibe.com Website: www.alhudacibe.com
  • 2. CENTRE OF ISLAMIC BANKING & ECONOMICS there are about 2000 Islamic Financial Institutions working globally as Islamic Banks, Takaful ( Islamic Insurance), Sukuk ( Islamic Bonds), Islamic Fund and Islamic Microfinance institutions etc in more than 100 countries and fortunately no Islamic Financial institution was effected by such global financial crisis which ensures the strength and rationality behind the Islamic financial system. He also added that international institutions such as Islamic Development Bank (IDB), Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI), Islamic Financial Services Board (IFSB) and International Islamic Liquidity Management (IILM) are dedicatedly working for Islamic finance around the globe which will further promote and strengthen the Islamic finance in future globally. He, responding to a question related to the relationship between religion and Islamic finance in question answer session, said that Islamic banking and finance is a name of a system not religion so all other religions can get benefit from it and that is why Islamic banking and finance is growing in the western world while non Muslims are utilizing the Islamic financial products, considerably, to fulfill their business, personal and financial needs as in only America which has more than 20 Islamic financial institutions are working, which are actively providing the Islamic financial services to fulfill the financial needs of Muslims and non-Muslims equally. During his stay in Tunisia, he met with Dr. Amel Amri, President – Tunisian Association for Islamic Finance (TAIF), Dr. Raza, President – Islamic Economic Association Tunisia and heads of some other Islamic financial institutions. He said that Tunisia has a good recognition in Islamic financial industry having 2 full-fledged Islamic banks, Takaful companies, universities with having Islamic finance program, Sukuk Laws and some other similar institutions which are indicating the best future of Islamic finance in Tunisia but he, realizing the need of Islamic microfinance, said that Islamic microfinance is missing component of Islamic finance in Tunisia while socioeconomic development and poverty reduction can be done in better way through Islamic microfinance in Tunisia# Head Office: 160 - B Ahmad Block, New Garden Town Lahore, Pakistan. Ph: +92-42-35913096-8 Fax: +92 -42-35913056 E-mail: info@alhudacibe.com Website: www.alhudacibe.com