International conference on Ijarah to be held in Dubai.

• Position: Islamic leasing - Conference news

Islamic leasing (Ijarah) innovative products can boost financial inclusion and out-reach: zubair mughal

International Conference on Islamic Leasing (Ijarah) will convene in Dubai-UAE on 14th-15th October, 2019 to explore and discuss innovative products of leasing under Shariah laws and financial inclusion strategies that can create clear pathways for growth and development of Islamic banking and finance industry. This Apex event is organized by AlHuda CIBE in Association with Uzbekistan Lessor Association and in partnership with multilateral organization for the Development of the Private Sector, ICD-IsDB. ICD-IsDB is one of the premier Islamic multilateral financial institution working for the development of the private sector including Ijarah industry.

Delegates from more than 25 countries will be participating in this prestigious event and eminent international speakers will be addressing in the event. Majority of the speaker are industry leaders and experts. AlHuda CIBE is striving for development of Islamic finance industry worldwide from last 14 years by providing advisory, consultancy, research and capacity building services and organized 7 annual events in different countries of the world. This event helps the industry practitioners to join the common platform and strengthen the networking for industry development in true and innovative ways.

Mr. Muhammad Zubair Mughal, the Chief Executive Officer of AlHuda CIBE said that International Conference on Islamic Leasing (Ijarah) will explore how new and effective strategies (according to Shariah compliant procedures) be formulated for economic sustainability and growth.

According to Mr. Mughal Ijarah (Islamic Leasing) have 24% substantial shares in Islamic finance industry followed by the dominant Murabaha (cost plus profit) product with the shares of 48% in global Islamic finance industry as mode of finance. While the Diminishing Musharkah (home financing) have its shares about 14%, Salam and Istisna (advance sale) have 5%, meanwhile Mudarbah and Musharkah (partnership based products) have about 2% and rest is belong to the other Islamic financing products.

Ijarah is very convenient product to launch in those jurisdictions where there is no proper legal and regulatory environment available to facilitate Islamic banking and financial products, he added. He argued that due to this feature Ijarah products can be...