9th African Islamic Banking & Takaful Summit going to inaugurate in Tanzania
Africa is Potential Market for the Development of Islamic Banking and Takaful Industry says Zubair Mughal
DUBAI:9thAfrican Islamic Banking & Takaful Summit will convene in Johari Rotana, Dar-es-Salam, Tanzania on July 26, 2022 with two-days post event workshop on Practical and Operational Aspects of Takaful. The purpose of this event is to explore the untapped African financial market for Socio-Economic Benefits of the region. The Banking and Takaful industry of Tanzania and the surrounding areas will actively participate in the conference to gain ample knowledge of the Islamic financial sector and solutions to the escalating problems of the society. More than 20 international speakers would give their valuable contribution in the topics of discussion. The event will be held in association with the Center for Islamic Finance, Compliance and Advice (CIFCA). Participants are high-profile personnel for 20 countries e.g., from central banks, banking and finance sectors of Tanzania and the rest of the African countries, microfinance and Takaful/insurance industry.
Muhammad Zubair Mughal Chief Executive Officer AlHuda Centre of Islamic Banking and the Economics-United Arab Emirates organizer of this event mentioned that he is very optimistic about the future of Islamic finance industry in Africa. African countries are facing a lot of challenges for the development of people’s social and economic lives, their economies are just on the way to growth. This is the right time to make sound financial decisions with Islamic Finance concepts for building their financial policies not only at institutional level but for state. He said that Islamic banking and finance is the best alternative to change the lives of the poor. Investing in Islamic Banking and Finance could mean greater foreign investment that could result in enhanced global connectivity, improved job creation, socio-economic development and poverty alleviation.
The main objective of the summit is to recognizing significant developments in Islamic Financial Infrastructure of Africa, linkages of African Islamic Finance industry with international financial market, demonstration of the flexibility of Islamic Financial markets during recent financial and pandemic crisis, share the best practices of the international Islamic banking market with African Islamic finance Industry, assessing innovations in Islamic financial markets through the growth of newly developed research based products etc. The event is open to the public with a very nominal entrance fee. It is highly recommended that more and more organizations, companies and banks join the summit in order to gain the maximum benefit from this international event in Tanzania.
