Microfinance Focus, January 3, 2010: Pakistan’s AlHuda Centre of Islamic Banking and Economics (CIBE) has recently established a unit for development of Islamic Microfinance to provide the technical and Shariah guidance to the local and international micro-finance institutions in the conversion process of micro-finance structure into Shariah compliance micro-finance or establish new Islamic Microfinance institutions.
AlHuda CINE has also entered into collaboration with Naymet Islamic Microfinance to render its services for Islamic Microfinance product development. AlHuda CIBE will operate manuals of Islamic financial products and will also provide accounting and auditing measures, Shariah supervision, and help training out its staff members. It will also facilitate Naymet Islamic Microfinance in advisory for Shariah complaint I.T solutions.
AlHuda CIBE facilitates and strengthens the microfinance industry through Islamic microfinance product development, innovation, standardization and provision of Technical & Shariah expertise. It conducts training sessions and workshops on Islamic Banking, Finance, Takaful & Sukuk across Pakistan and abroad.