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Report Islamic Microfinance Workshop
Report Islamic Microfinance Workshop
Report Islamic Microfinance Workshop
Report Islamic Microfinance Workshop
Report Islamic Microfinance Workshop
Report Islamic Microfinance Workshop
Report Islamic Microfinance Workshop
Report Islamic Microfinance Workshop
Report Islamic Microfinance Workshop
Report Islamic Microfinance Workshop
Report Islamic Microfinance Workshop
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Report Islamic Microfinance Workshop

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  • 1. Report on Two Days Specialized Training Workshop on Islamic Microfinance 16th & 17th September, 2012 in Sheba Hotel, Sana’a, Yemen Jointly Organized by:AlHuda Centre of Excellence in Islamic Microfinance Yemen Microfinance NetworkSupported by:Prepared by:Ali Abutaleb – Yemen Microfinance NetworkSanya Ali Ahmad – AlHuda Centre of Islamic Banking and Economics
  • 2. INDEXContents Page no.Introduction 3About the Organizing Parties 3Speakers of the Workshop 4Participants of the Workshop 5Training Workshop Agenda 6Synopsis of the Training 7Impact Analysis of the Training Workshop 9Participants’ Overall Evaluation of the Workshop 10Suggestions and Recommendations 11 2
  • 3. INTRODUCTIONOverall, social and economic circumstances in Yemen create a homogenous traditionalsociety where many decisions are influenced by the religious considerations. So, IslamicMicrofinance would be highly accepted there and would ultimately help in reducingpoverty of Yemen.Islamic Microfinance is an emerging market in the field of Islamic finance. So, there is animmediate need to educate, train and conduct market study and awareness campaigns onthis subject. The aim of this training is to provide edification and trainings to Microfinance& Finance Professional with an additional opportunity for their educational uplift underIslamic financial system. An individual would be able to learn new techniques andopportunities in this field.The event was jointly organized by the Yemen Microfinance Network and AlHuda Center ofIslamic Banking and Economics - Pakistan. The training was lead by international expertsand was open to participants from regional and international countries as well as local MFIand commercial bank practitioners. ABOUT THE ORGANIZING PARTIESAbout AlHuda Centre of Islamic Banking and Economics (CIBE)AlHuda Center of Islamic Banking and Economics (AlHuda CIBE) is a well established namein Islamic financial Market which is working in the field of Islamic Banking and Economicsfrom the last 7 years in Pakistan and around the globe. It is the pioneer organization tostart effort for the promotion of Islamic Banking and Finance in masses through Advisoryand Consultancy, Education, Trainings, Awareness, Product Development and Publications.About Yemen Microfinance Network (YMN)The Yemen Microfinance Network (YMN) is a member based association registered in 31stAugust 2009 under the Ministry of Social Affairs and Labor as a non-governmentalorganization (NGO), having its own board of directors consisting of the microfinancemember institutions. Being a member-driven association, YMN three year strategy wasdeveloped in a very detailed, comprehensive and systematic process. 3
  • 4. SPEAKERS OF THE WORKSHOPThe master trainers and speakers of the training were: Mr. Qazi Abdul Samad and Mr.Zubair Mughal. The profile of the speakers is as follows:Qazi Abdul SamadQazi Abdul Samad is a skilled professional with proficiency in Shari’ah advisory, In-depthknowledge of Shari’ah Microfinance, Innovative, commitment & pro-active approach towork, Strong communications & analytical skills and able to manage and train others.Currently, he is working as a Shari’ah Advisor of The Bank of Khyber - Pakistan. He is also avisiting lecturer of Islamic Financial System in Management Science Department of CityUniversity, Peshawar. He has been providing Shari’ah advisory and supervision in manyorganizations. He is an author of many articles and has presented articles in manyInternational conferences.Muhammad Zubair MughalMuhammad Zubair Mughal is a passionate and hardworking individual with a strategicvision in Islamic Micro Finance. He is a skilled Islamic financial professional and a keenlearner of Islamic Microfinance and Islamic Micro insurance with good public speaking andtraining skills. He is currently working as a Chief Executive Officer of AlHuda centre ofIslamic Banking and Economics. He has a professional experience Islamic Microfinance ofover 10 years. He has development Many Islamic Microfinance Products which are beingutilized in Pakistan, Middles East & Africa, he has also presented his research papers onIslamic Microfinance in many International conferences in South Africa, China, Kazakhstan,Russia, Kenya, Pakistan, U.A.E, Mauritius, Afghanistan, Turkey, Tatarstan, Jordan and Iraqetc. 4
  • 5. PARTICIPANTS OF THE WORKSHOPYemen is an emerging market in terms of Islamic Microfinance. It has a rich Islamic historyand the demand of Islamic Microfinance is growing very rapidly there. Yemen has apopulation size of 23 Million, one of the mostethnically homogenous in the region, with 3%population annual growth rate. 71% of the populationlives in the rural and 29% in urban areas. 34.8% livebelow the poverty line. Overall, social and economiccircumstances in Yemen create a homogenoustraditional society where many decisions areinfluenced by the religious considerations. So, IslamicMicrofinance would be highly accepted there andwould ultimately help in reducing poverty of Yemen. A Memorable Group Photo of all the ParticipantsThe targeted audience for this training workshop wasMicrofinance Professionals and Experts, Microfinance Institutions & Banks, Financial & BankingInstitutions, Rural & Agri. financial Professional, Community Developments, NGOs and NPOs,Insurance Companies, Development Consultant, Management Consultants, Social DevelopmentSector, Govt. Development Departments, Local and International Donors Agencies, SMEs &Corporative Societies, Academia, Philanthropists and Investors, Regulators and Govt. Officials,Shariah Scholars and Experts.In this connection, the persons, who has participated the training workshop are:No. Name Organization1 Ms. Faiza Abdo Saeed Economic Opportunities Fund2 Mr. Jihad Al-Hakimi Economic Opportunities Fund3 Ms. Nasaim Mohammed Algonaid Alawael Microfinance Company4 Ms. Somaia Ezzadin Alawael Microfinance Company5 Ms. Nagwa Fadil Aden Microfinance Foundation6 Ms. Hind Kassim Alawi Ali Social Fund For Development7 Mr. Omer Abdul Haleem Social Fund For Development8 Mr. Fahmi Al-Kuraimi Alkuraimi Islamic Microfinance Bank9 Mr. Ahmed Alhumiqani Yemen Microfinance Network10 Mr. Khalil Almikhlafi Yemen Microfinance Network11 Mr. Abdulrahman Alazazi Yemen Microfinance Network12 Mr. Nabil Ali Al-Shehaly Alamal Microfinance Bank13 Mr. Hani Al Fakih National Microfinance Foundation14 Mr. Mutlaq Al-Osaimi National Microfinance Foundation15 Mr. Moammar Shuhait National Microfinance Foundation16 Mr. Ali Abutaleb Yemen Microfinance Network 5
  • 6. TRAINING WORKSHOP AGENDA The agenda of the training workshop is as follows: Mr. Mohammed Saleh Al-Lai, Chairman Yemen Microfinance Network Mr. Osma Al Shami Welcome Address Head of SMED and Inauguration Social Fund for Development - Yemen Najah Almugahed, Acting Managing Director Yemen Microfinance Network  A Glance on Islamic Finance  Economic Rationale for Prohibition of Riba  Shari’ah Foundation and Applications of Islamic Microfinance  Islamic Micro Finance as an effective tool of poverty alleviation  Islamic Micro Financial Products Mechanisms & Compatibility with Conventional Microfinance Products  Source of Islamic Microfinance Products  Islamic Microfinance Institutions – Worldwide  Need Assessment of Islamic MicrofinanceTopics Discussed by  Opportunities & Challenges Faced by IMF Sector the Speakers:  A Case study from Pakistan  Islamic Microfinance Product Mechanism, Structures, Operations &Mr. Qazi Abdul Samad Applications. &  Partnership Modes of Islamic MicrofinanceMr. Muhammad Zubair  Liability (Deposit) Management Techniques for Islamic Mughal Microfinance  Trade Based Modes of Islamic Microfinance  Parallel Salam & Istisna  Islamic Microfinance Product Mechanism, Structures, Operations & Applications  Micro Takaful (Islamic Micro Insurance)  Definition of Takaful. How Micro Takaful products works with Islamic Microfinance  Structure, Operation and Performance of Takaful for Poverty Alleviation  Opportunities and Challenges of Micro Takaful in Islamic Microfinance  Definitions, Concept & Uses of Waqf, Qarz-e-Hassan, Cooperatives & Zakat in Islamic Microfinance system 6
  • 7. SYNOPSIS OF THE TRAININGThe training session was inaugurated by Mr. Mohammed Saleh Al-Lai, Mr. Osma Al ShamiNajah Almugahed. While addressing to the audience of training workshop, Mr. MohammedAl Lai said: “I am so proud to be a member of YMN as a Chairma n. I have had the privilege of working with dedicated and talented employees who make our Network an innovative and successful institution. It gives me immense pleasure to present the Islamic Microfinance and Islamic Finance training workshop that is held with cooperation of (AlHuda- CIBE) Center of Islamic Banking & Economics of Pakistan. It is clear that the demand for Islamic finance has increased which is a major opportunity for the growth Mr. Mohammed Saleh Al-Lai Chairmen Yemen Microfinance Network speaking at Inaugural Session of the industry and gets awareness about it from highly learned andexperienced professionals and be the leaders of Islamic Microfinance in Arab region.Therefore we are keen in promoting the awareness of Islamic Microfinance among theregion. More than ever, we extend our best wishes for the success of the training and theultimate benefit for all the Yemenis from thewide spreading Microfinance Industry.”Mr. Mr. Osma Al Shami presented his views bysaying that it is an excellent opportunity tospread the knowledge and awareness aboutIslamic Microfinance in Yemen that willultimately benefit the masses. He said that thetraining workshop will provide a lot ofopportunities to gain knowledge about globalpractices on Islamic microfinance throughlearned national and international scholarsand experts. Ms. Najah Almugahed Technical Session of the Trainingappreciated the arrangement of two daysworkshop on Islamic Microfinance, a good step for the Microfinance sector. She said thatIslamic Microfinance is rapidly growing in Yemen and the workshop like this will providemore awareness about it. 7
  • 8. Two days training went too smoothly. All the participants went satisfied. At the end of thetraining session, Mr. Zubair Mughal presented the souvenir to Ms. Najah Almugahed forinitiating this step with AlHuda CIBE. YMNshowed its wish to repeat this trainingworkshop on annual basis.At the end of the training, logo inaugurationceremony of Islamic Microfinance wasconducted in which Logo of the forum wasinaugurated by Ms. Najah Almugahed. Whileaddressing to the inaugural ceremony, Ms.Najah Almugahed appreciated the step ofAlHuda CIBE to organize Global IslamicMicrofinance Forum and said that the Mr. Zubair Mughal presenting Souvenir to Ms.microfinance industry would be more established Najah Almugahedthrough this Forum. While addressing to theinaugural ceremony, Chairman of Yemen Microfinance Network - Mr. Al-Lai has declaredthe strategy of AlHuda CIBE for the promotion of Islamic Microfinance as a very good stepfor the industry which will amplify the awareness and promotion of Islamic Microfinance. 8
  • 9. IMPACT ANALYSIS OF THE TRAINING WORKSHOPAs Islamic Microfinance is already a distinguished and strong field in Yemen so this trainingworkshop has added new horizons and dimensions in this field. The basic aim was to seehow the integration can be made in between the existing products of Islamic Microfinancein Yemen and other related products. It was indeed a learning session. It will surely createproduct understanding and the participants would share the knowledge gained throughthis session which will help in uplifting of their living standards and would help in reducingpoverty of Yemen.It will surely enhance the expertise ofworking in this field and would increasethe capabilities and capacities to work forit. The attendees of this training gained In-depth Knowledge of Islamic Microfinance,learnt new Techniques of PovertyAlleviation, Social Development &Financial Inclusion through IslamicMicrofinance. They saw the Shari’ahPrinciples and Mechanism about IslamicMicrofinance and got an Opportunity togain knowledge about global practices onIslamic microfinance through learned Participants during the training Sessionnational and international scholars andexperts. The event should have a strong impact on the outreach of Islamic Microfinance inYemen and the region as an effective tool to alleviate poverty.Success Indicators of the training  The positive evaluation results by participants  Positive perception of the event by organizations related to microfinance industry in Yemen.  The level of attendance and interaction  Provision of real life case studies and examples  The included literature and reading material  The high levels of trainees’ interactivity with trainers  Very well organized event  The event venue  Positive atmosphere throughout the event 9
  • 10. Obstacles & Challenges  The relatively short available time for the workshop, which meant that high loads of information and rich material had to be squeezed to fit the time frame  The security situation especially because of the attacks on the US Embassy in Sana’a by demonstrators before the workshop’s date prevented other international participants from travelling to Sana’a to attend the event.  The fact that most MFIs in Yemen are utilizing one or two types of IMF products but mostly (Murabaha) PARTICIPANTS’ OVERALL EVALUATION OF THE WORKSHOPParticipants of the training workshop liked the training and the feedback was very positiveand encouraging. Participants’ overall evaluation for the training workshop is summarizedas a chart positioned below: Training package Content and integration of… Organization Training hall Timing Weak Coffee break and Lunch Acceptable Average Cleanliness Good Relationship with colleagues Excellent Reflection on current job Training methods Willingness to attend similar… Overall course evaluation 0.00% 20.00% 40.00% 60.00% 80.00%100.00% 10
  • 11. SUGGESTIONS AND RECOMMENDATIONSFor the betterment of the next training workshop, following suggestions andrecommendations are to be taken under consideration:  To organize similar but longer training workshops and target larger potential segment of participants from different organizations, practitioners, and funding donors.  To better coordinate with the governmental bodies, i.e. (Central Bank of Yemen) to better publicize the event and build awareness of IMF products and solutions. 11

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