Alhuda opens first Islamic Microfinance helpdesk in Pakistan


Islamic Micro-finance helpdesk is established by Alhuda – Centre of Islamic Banking and Economics (CIBE) for the objective to provide the technical and Shariah guidance to the local and international micro-finance institutions in the conversion process of micro-finance structure into Shariah compliance micro-finance.

This helpdesk will perform the services of Islamic financial product development, research, technical assistance, training & education and Shariah. Mr. Zubair Mughal (CEO) Alhuda CIBE said, Islamic Micro-finance is the most effective tool for the poverty alleviation from the society. He also said that Islamic Micro-finance is not only to reduce the poverty but also generate a pleasant change in the society and it will provide the better living standards for the poor.

Through Islamic Micro-finance, necessary goods, equipment and machinery is provided to the clients instead of just money lending to run up the business at micro level. The 40% population of Pakistan is living below the poverty line and the indicator is still positive day by day, it is very important for us to control the rising indicator of poverty and I recommend that Islamic Micro-finance is the most effective tool to achieve the goals.

There are so many Islamic Micro-finance institutions in practice in all over the world for the poverty alleviation and economic welfare including Sudan, Egypt, Syria, Indonesia and Malaysia. He also emphasized the government to support the Islamic micro-finance institutions for the poverty alleviation in Pakistan

Source : TMC News – July 01, 2009

Presentation of Alhuda Islamic Micro-finance helpdesk

Vision and Mission
AlHuda Centre of Islamic Banking and Economics (CIBE) is a pioneer organization committed to facilitate and strengthened microfinance industry through Islamic Product Development, innovation, standardization and also Provide Technical & Shariah expertise. Basic purpose to establish Islamic Microfinance Help desk to coordinate the Poverty alleviation Factors through Islamic Financial methodology for the broader prospects of social well being.

Islamic Micro Financial Services
AlHuda CIBE provides Islamic Micro Financial services to their stakeholders in following ways.
– Establishment of Islamic Microfinance Institution/Bank.
– Islamic Financial Product Development.
– Shariah Advisory.
– Shariah Audit & Review
– Shariah Audit.
– Documentation.
– Shariah vetting of Products
– Process flows of Islamic Financial Products. Islamic Microfinance Product Development

Islamic Microfinance Product Development
We seek to establish innovative Islamic Microfinance Products in line with our strong social objectives.  We are committed to invest our resources to achieve these goals, expanding client outreach within our target markets and developing appropriate Islamic Financial products to address our clients’ needs.

Training & Capacity Building
The objectives of AlHuda CIBE Islamic Microfinance training program include bringing new courses to the region, building a cadre of certified trainers who can serve the industry and to offer industry stakeholders and members relevant and high quality training courses in Islamic Microfinance. AlHuda CIBE also pleased to introduce Distance learning training program “Certified Islamic Microfinance Manager”.

Innovation and Research
Foster innovation in the microfinance sector by researching and highlighting leading trends in technological developments, product diversification and new financial services.

Networking and Awareness
To improve the awareness of Islamic Microfinance internationally and create a forum to share experience and knowledge to build confident and improve the self-sufficiency, transparency and management in a sustainable manner, Awareness objective is to promote the Islamic micro-entrepreneurships development in sectors of  micro economic resources in a professional and serious way.

Publication of Islamic Microfinance
AlHuda CIBE is dedicatedly working for publications of Islamic Finance by two specialized magazine for this sector, namely, “True Banking” and “Islamic Banking and Finance News.

Distance Learning Program : “Certified Islamic Microfinance Manager”

Islamic Microfinance is a new emerging market in the field of Islamic Finance, so there is an immediate need to have a comprehensive Education, Training, Market Study and Awareness on this subject. Al-Huda CIBE humbly offers a Specialized Comprehensive Certificate Program on Islamic Microfinance on Distance Learning basis. It is highly structured, interactive and innovatively designed Program with an interactive methodology under the auspicious supervision to a panel of Academicians, Shariah Scholars and professionals to ensure high quality material.

The aim of the course is to provide educational facilities and trainings to the people who cannot leave their homes and jobs with an additional opportunity for their educational uplift under Islamic financial system Certified Islamic Microfinance Manager program comprises of two modules, each having two months duration. Strong tutorial support is an integral part of the distance education system. The material provided by the tutorial sessions will help the students to update their knowledge according to the latest terms and concepts globally used in Islamic Microfinance.

Source : Alhuda CIBE

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