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Event Summary
Islamic finance focuses on interest-free methods of providing capital, because the shari’ah holds lending to be a purely charitable exercise, rather than a means of making a profit, Islamic finance is also accustomed to methods of risk-reward sharing between the institution and the borrower. Islamic microfinance banks have grown significantly in countries like Pakistan, Indonesia, Malaysia, and Bangladesh. In fact, Islamic microfinance institutions enjoy greater penetration than traditional commercial banks inmost of the countries.

Islamic banking has the same purpose as conventional banking except that it operates in accordance with the rules of Sharia, known as Fiqh al-Muamalat. The basic principle of Islamic banking is the sharing of profit and loss and the prohibition of Riba. Amongst the common Islamic concepts used in Islamic banking are profit sharing (Mudharabah), safekeeping (Wadiah), joint venture (Musharakah), cost plus (Murabahah), and leasing (Ijarah).

It is an accurate time to start Sharih complaint banking in Nigeria and to start introducing Islamic microfinance banks which will be a great profit to the country. AlHuda Centre of Islamic Banking and Economics has an ambition to strengthen the roots of Islamic banking and finance in Nigeria and in the rest of the world. “International Conference on Islamic Banking and Finance in Nigeria” will be a platform for its citizens and non citizens to welcome the beam of hope and give room to the Islamic banking and finance setup in the country to enjoy the fruits of Halal financing services.

I wish your active participation in this conference. Looking forward to personally greet you on its venue.

Zubair Mughal
Chief Executive Officer
AlHuda Centre of Islamic Banking and Economics

For more info please send e-mail to
Amina Siddiqi
Manager Communications

E-mail: amina.siddiqi@alhudacibe.com