Al-Huda Centre for Islamic Banking and Islamic Economics (Al-Huda CIBE) will provide intensive Islamic Banking Training to the staff of Bangladeshi and Mauritius banks. In this regard Al-Huda CIBE has signed MoUs with the Bangladeshi and Mauritius banks.

This was stated by Zubair Mughal, CEO of Al-Huda CIBE in a press release issued here on Sunday. Zubair Mughal said the Al-Huda CIBE has provided intensive Islamic Banking Training to hundreds of Pakistani bankers from various leading banks of the country. The centre organises workshops, conferences and hold courses for intensive Islamic Banking across the country.

In this regard Al-Huda CIBE organised a two-day specialised workshop on Islamic Banking in Multan which concluded on Sunday. The purpose of this specialised workshop was to promote Islamic Banking in the region and provide technical skills to the bankers and finance professionals about the Islamic banking.

Zubair Mughal, CEO of Al-Huda CIBE inaugurated the workshop. Many research-oriented technical papers were presented on the topics of Murabaha, Ijarah, Mudharaba, Musharaka, Diminishing Musharaka, Takaful (Islamic Insurance) and Sukuk (Islamic Bonds) by prominent bankers and finance experts. Iftikhar Baig Sharia Advisor Prime Bank, Hamad Rasool Director Wapda First Sukuk Company Limited, Sibghat Ullah Ehsan Assistant Director Securities and Exchange Commission of Pakistan, Wasf Ali Babar Manager Corporate Meezan Bank Limited and Zubair Mughal CEO Al Huda CIBE presented their papers.

Speaking at the workshop Hamad Rasool, Director, Wapda First Sukuk Company Limited said it was a research based workshop to promote the acceleration of Islamic Banking and investments in the masses.

He said in the international market, a number of Sukuks have been issued by prominent groups and government authorities to fulfillment their financing need such as BMA Bahrain, Emaar Properties, Aldar-UAE, Amlaak etc and there is a huge potential for such issues in Pakistani financial market because of the natural interest of masses in this area only if the general public is made better aware of the clear concepts on Islamic Banking. He also appreciated the roll of Islamic Banking Department, State Bank of Pakistan for development of Islamic Financial Industry in Pakistan.

The participants from Meezan Bank, Bank Al Falah - Islamic Banking, National Bank of Pakistan, Asian Housing Finance, MCB Bank, Prime Commercial Bank, Askari Bank, KPD and other prominent financial organisations valued the workshop for the professional development. Al-Huda CIBE will organise another training workshop in Multan in May 2007 for the benefit of local bankers and finance professionals.-P