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Awqaf South Africa and AlHuda-CIBE sign an MOU at Johannesburg
AWQAF SA and Pakistan based Al Huda Centre of Islamic Banking and Economics (Al Huda CIBE) formally entered into a Memorandum Of Understanding (MOU) at Gallagher Estate, Sandton , Johannesburg, at the closure of the International Conference on Islamic Banking and Finance in Africa organized by AlHuda CIBE.....
 
Mr. Zuair Mughal, CEO Alhuda CIBE & Mr. Zeniel Kajee CEO Awqaf South Africa at MOU signing Ceremony
 
 
 
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Nigeria: Islamic Microfinance Bank Launched
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The first Islamic micro finance bank in the country, Al-Barakah Micofinance Bank was yesterday commissioned in Lagos.
The bank is an initiative of The Muslim Congress which spans 16 years.
At a well attended event, the Chairman of Al-Barakah MicroFinance Bank, Dr.Abdul Hakeem Mobolaji said the bank is set up in response to the increasing demand for alternative micro credit products by the less privileged members of the society against the conventional banking practices.
He also said the bank would provide succour and financial service to the society in support of the Federal government's drive to eliminate poverty in the country.
"What we are commissioning today represents our contribution towards providing an alternative banking for Muslims and non-muslims alike.
It is our fervent hope that more like-minded individuals and corporate body will embrace this window and deepen the financial market through provision of sophisticated Islamic instruments and finance".

 
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