Alhuda's 9th global Islamic microfinance forum successfully concluded in Lahore.


Under the Theme of Financial Inclusion through Enterprise Development for Poverty Alleviation

The 9th Global Islamic Microfinance Forum was successfully concluded at Governor House Lahore, Pakistan. The purpose of that forum was to promote, strengthen and unite the organizations of Islamic microfinance (IsMF) with the theme of Financial Inclusion through enterprise development for poverty alleviation.

Eminent speakers and industry professionals from well serving organizations related to Microfinance, Islamic microfinance, micro insurance and NGOs participated in the event. The aim of the forum was to discuss the outreach strategies, financial inclusion enterprise development by gathering stakeholders under one roof. The forum was organized by AlHuda Centre of Islamic Banking and Economics in association with Akhuwat Pakistan and Punjab Development Network, in partnership with multilateral organization Islamic Corporation for Development of Private Sector (ICD).

AlHuda arranged an impressive lineup of speakers from different countries with the revealing sessions on the subject matter to explore more options for Islamic Microfinance industry. Dr. Amjad Saqib, Founder of Akhuwat Pakistan inaugurated the forum by saying that Islamic microfinance is the need of the time and this can be used as a weapon for the poverty alleviation. He further explained how Akhuwat model and different products are playing its role to alleviate the poverty in Pakistan.

He also appreciated the efforts of AlHuda Centre of Islamic Banking and Economics. Dr Amjad Saqib, highlighted the ways of poverty alleviation through qard-e-hasna in Islamic microfinance through which Akhuwat is providing small loans to more than 5 lac people across Pakistan. The services of Akhuwat, Pakistan is not only limited to Pakistan rather in other countries of the world.

The research on Akhuwat Model in different universities of the world is the best example of it. He further added that poverty is a world phenomenon and mostly growing in the Muslim countries. It is recommended that we chalk an international strategy to alleviate poverty from Muslim world through means which could be near to the Islamic traditions and religious norms and Islamic microfinance is the best solution of that.

Addressing to the inaugural session, the Chief Guest of the Ceremony H.E. Chaudhry Muhammad Sarwar, Governor of the Punjab said: Islamic Microfinance should be utilize as system of poverty alleviation for...

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