AlHuda CIBE eyes to Sierra Leone’s financial market

AlHuda CIBE eyes to Sierra Leone’s financial market

Dubai: AlHuda Centre of Islamic Banking and Economics the giant of Islamic finance industry is lunched a mission to Sierra Leone for the development and support of Islamic Finance Industry. Islamic Financial Industry is a system which provides reliable economic and socially justified solutions in light of Shariah. The structure of Islamic financial system is the key of sustainability for developing economies like Sierra Leone. AlHuda Centre of Islamic Banking and Economics is penetrated in West African Financial Industry, it played very developmental role in Anglo and Francophone countries. Through its consultancy and advisory services AlHuda CIBE set up Islamic Banking window operations, Islamic Microfinance institutions and Takaful Companies. Now AlHuda CIBE is putting its eyes to Sierra Leone financial Industry and growth for Islamic Finance Industry. The financial industry of Sierra Leone is comprised on almost 14 commercial banks, 76 branches for community banks operated by Apex Bank, 15 microfinance institutions (MFIs), five of them are deposit-taking, three Mobile Money Operators, and 59 Financial Services Associations.

Mr. Muhammad Zubair Mughal, Managing Director of AlHuda Centre of Islamic Banking and Economics United Arab Emirates gave his insight about Sierra Leonean financial Industry that adoption of Islamic finance will support towards new