News Column

New Orleans to host workshop on Islamic banking

June 26, 2014



AlHuda Centre of Islamic Banking and Economics (CIBE has announced a joint-training workshop in Islamic Banking and Finance in conjunction with FAAIF and the University of New Orleans on October 06 and 07, 2014 in New Orleans, Louisiana, USA.

Al Huda CIBE, having conducted hundreds of successful training workshops all over the world is excited to enter the American markets to bring fascinating and complex Islamic finance and banking products and structures to the citizens of the United States.

Muhammad Zubair Mughal, Chief Executive Officer of AlHuda CIBE, said that Islamic Banking and Finance has immense potential in the USA market and it has come up with a blooming prominence after the emergence of International financial crisis, thereafter Islamic financial system has appeared as a sustainable and reliable financial system in the world which does not have such flaws which were the root causes of International financial crisis.

He mentioned that about more than 30 Islamic financial institutions are operating in the USA but the potential is much higher as USA is suppose to be regional hub for North America, South America, Latin America and Caribbean countries, a handsome demand of Islamic financial products already exist in Brazil, Argentina, Canada and others countries.

American continent is dwelling approx 8 million Muslim population, amongst them Canada have 2% Muslim Population, while 0.8% population of the U.S. is also Muslim.

Muslims constitute about 1 percent of the North American population and Argentina has the largest Muslim population in Latin America with up to 2% of the population, which shows a big appetite of Islamic financial products in the region.

He said we have chalked out a detailed strategy to penetrate into the region with our services and this workshop is our entry point to introduce Islamic financial services in this region. He also mentioned that the collaboration of University of New Orleans and FAAIF for upcoming workshop will further strengthen our vision to achieve our optimum goal for the development of Islamic finance Industry.

FAAIF CEO Camille Paldi is looking forward to this tremendous opportunity to bring Islamic finance to the people of the United States, which is her home country, and she is very much hopeful that the American people are just as excited as she is about learning this distinct form of Holy Book finance.


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Source: Pakistan Press International


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