AlHuda CIBE hosts successful 10th African Islamic Finance Summit in The Gambia

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AlHuda CIBE hosted the 10th African Islamic Finance Summit (AIFS) on May 03, 2023, at The Sir Dawda Kairaba Jawara International Conference Center in The Gambia. The summit aimed to explore untapped financial opportunities in Africa for socio-economic benefits of the region. The CEO of AlHuda CIBE, Mr. Muhammad Zubair, welcomed the attendees and highlighted West Africa as an emerging region for the Islamic finance industry.

The summit included distinguished guest speakers, such as H.E. Demba Sabally, Minister of Agriculture, and H.E. Seyaka Sonko, Minister of Interior, who discussed innovative financial inclusion strategies for the development of Africa. The chief guest, H.E. Seedy Keita, Minister of Finance and Economic Affairs, presented an optimistic opinion about Islamic finance and its sustainability for socio-economic goals and financial inclusion at all levels.

The summit also had technical sessions on Islamic banking, finance, and financial inclusion, the development of Islamic microfinance in West Africa, and the challenges and opportunities for the Islamic finance industry in Africa. Honorable guest speakers included Mr. Lamine Kone and Mr. Ba Lamin Darboe, who spoke about investment opportunities in Africa.

The event was sponsored by Agib Bank Ltd, the pioneer and only Islamic bank in The Gambia, Forward Enterprises, and APS Islamic Microfinance Co. Supporting partners included Heeno International, Gambia Chamber of Commerce and Industry, National Association of Cooperative Credit Union Gambia, and others. The media partners included The Standard Newspaper, Micro Capital, IFING Media, Financial Nigeria, and International Business Magazine.

The summit successfully highlighted the potential of Islamic finance in Africa and its role in achieving socio-economic development. It provided a platform for African think-tanks to discuss and develop innovative financial inclusion strategies for Africa’s growth.