MICROFINANCE EVENT: AlHuda CIBE, Akhuwat to Host Sixth Global Islamic Microfinance Forum, November 8-11, 2016, Nairobi, Kenya

Event Name: Sixth Global Islamic Microfinance Forum: “Financial Inclusion, Outreach Strategies and Innovations”

Event Dates: Conference: November 8-9, 2016; Post-Conference Workshop: November 10-11, 2016

Event Location: Nairobi, Kenya

Cost: The forum attendance fee is KES 80,000 (USD 789) for Kenyan participants, PKR 55,000 (USD 524) for Pakistani participants and USD 1495 for participants from other countries. The workshop fee is KES 60,000 (USD 592), PKR 40,000 (USD 381) for Pakistani participants and USD 995 for participants from other countries.

If five or more delegates from the same organization register, there will be a 20-percent discount. Registrants who book on or before October 1, 2016 will receive a 20-percent discount. The registration deadline is October 31, 2016.

Summary of Event: The objectives of this event are to increase awareness of Islamic microfinance; discuss innovations such as crowdfunding and insurance schemes; create a set of global standards for practicing Islamic microfinance; and provide a forum for conversation among multilateral donor organizations, Islamic banks and microfinance institutions. The conference will cover topics such as: (1) the current status and future potential of Islamic microfinance; (2) agricultural and rural finance; (3) the qard-al-hassan (benevolent loans) model of Islamic microfinance; and (4) the role of technology in the industry. AlHuda will also host a post-conference workshop entitled “How to Develop, Operate and Sustain Islamic Microfinance Institutions.”

Background on Organizers: AlHuda Center of Islamic Banking and Islamic Economics (CIBE) is a nonprofit organization that specializes in research, training and consulting in the Islamic microfinance industry. The organization also provides technical assistance in the area of Shariah law, organizes distance learning programs and publishes a monthly newsletter entitled “Islamic Banking and Finance News.” AlHuda CIBE has offices in Pakistan, Uganda and the United Arab Emirates.

Akhuwat is a Pakistan-based microfinance institution (MFI) established in 2001. As of 2014, Akhuwat reported to the US-based Microfinance Information Exchange (MIX) total assets of USD 65.9 million, liabilities of USD 55.7 million and a gross loan portfolio of USD 47.4 million with 406,000 borrowers. This institution does not accept deposits.

Event Website: http://www.alhudacibe.com/gimf2016/index.php

For additional information, you may contact AlHuda CIBE’s office in the United Arab Emirates by telephone at +971 56 928 6664, or you may reach the firm’s Pakistan office at +92 42 3544 5654. You may also email Imran Gul Khan at imran.gul[at]alhudacibe.com.

By Michelle Dold, Research Associate

Additional Sources and Information:

[1] AlHuda: “6th Global Islamic Microfinance Forum”

[2] MicroCapital Universe Profile: AlHuda Center for Islamic Banking and Economics

[3] MicroCapital Universe Profile: Akhuwat

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