Islamic banking: Pakistan to participate in Mauritius conference

Conference aims to promote Islamic banking and finance in the African continent.

LAHORE:

Pakistan is expected to participate in a global conference on Islamic banking and finance which will be held in Mauritius on April 5-6 with an aim to promote Islamic banking and finance in the African continent.

AlHuda CIBE Chief Executive Officer Zubair Mughal, in a statement, said that it is vital to develop Islamic banking and finance in African countries as it will promote Islamic microfinance for poverty alleviation and government infrastructure. Mughal added that Sukuk (Islamic bonds) can play a major role in the development of underdeveloped African countries.

Fifty one per cent of Muslims live in 61 African countries, a figure which shows that there is room for the promotion of Islamic banking and finance in the continent.

Published in The Express Tribune, April 2^nd,  2011.