African Islamic Banking and Takaful summit inaugurated in Dar es Salam, Tanzania

African Islamic Banking and Takaful summit inaugurated in Dar es Salam, Tanzania

(Dubai): Africa is emerging for Islamic Finance and a new destination for Islamic Financial Institutions which will open new avenue for the Foreign Direct Investment (FDI) in the region, it was stated by Muhammad Zubair Mughal, Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics (CIBE) during the inaugural ceremony of African Islamic Banking and Takaful Summit was held in association with Centre for Islamic Finance, Compliance and Advice and sponsored by Imaan Finance, CRDB Bank Plc, PBZ Bank LTD, Craft Silicon, Technology Associates – Tanzania, Zanzibar Insurance Corporation, InvoiceMate, BSV-Blockchain, , Association of Tanzania Insurers (ATI) – Tanzania, National Insurance Authority, Somaliland, NBC, Imaan Newspaper, Imaan Radio, Imaan TV and IFING-MEDIA. He said that, Tanzanian Islamic Banking and Takaful market is very imminent and seems promising.

The summit was inaugurated by Mr. Muhammad Zubair, Chief Executive Officer, AlHuda CIBE FZ LLE, Dubai- U.A.E. He welcomed all the guests of honors, speakers and participants for attending this emerging phenomenon conference, one of new of its kind in the region. He said that Islamic banking and finance is the ultimate financial solution due to its viability and sustainability. This system has multi-fold benefits which concentrate on the balanced wealth distribution.