AlHuda Center of Islamic Banking & Economics (CIBE) and the Zimbabwe Association of Microfinance Institutions (ZAMFI) are pleased to announce their collaboration in hosting a specialized two-day training workshop on "Islamic Banking, Finance & Islamic Microfinance." The training is scheduled to take place on October 10th and 11th 2023, in Harare, Zimbabwe. This unique training opportunity aims to equip professionals, practitioners, and regulators with the knowledge and skills needed to harness the benefits of Islamic finance in the microfinance sector.

This program is designed to provide a profound understanding of various facets of Islamic finance, catering to a wide spectrum of topics. Participants will delve into critical subjects, including the prohibition of Riba (interest), gaining insights into the Islamic banking and finance industry, exploring trade-based modes such as Murabahah, examining partnership-based modes like Mudarabah and Musharakah, and understanding rental-based modes. Furthermore, the program will offer a dedicated exploration of Islamic microfinance.

One of the primary objectives of this initiative is to equip participants with practical implementation skills, enabling them to effectively apply Islamic finance principles within microfinance institutions. As the demand for Islamic finance solutions continues to grow, this program will serve as a cornerstone for enhancing expertise and fostering the adoption of ethical financial practices.

Mr. Muhammad Zubair, the CEO of AlHuda Center of Islamic Banking and Economics (AlHuda CIBE), has expressed his belief in the growing demand for Islamic banking and finance within Zimbabwe. He views the training program as a valuable opportunity to equip participants with the knowledge and skills necessary to excel in the rapidly evolving microfinance sector of the country.

In his statement, Mr. Zubair highlights the importance of Islamic microfinance in promoting financial inclusion and alleviating poverty. He recognizes that Islamic microfinance serves as a powerful tool for extending financial services to low-income and marginalized communities. This means that individuals who may have previously been excluded from traditional financial systems can now access essential financial resources, fostering economic empowerment and stability.

Mr. Godfrey C. Chitambo, the executive director of the Zimbabwe Association of Microfinance Institutions (ZAMFI), shares Mr. Zubair's enthusiasm for this training program. He sees it as a valuable opportunity for Zimbabweans to gain knowledge about Islamic banking, finance, and Islamic microfinance.

Mr. Godfrey C. Chitambo is confident that this training will contribute significantly to the development of Islamic finance within Zimbabwe. By providing participants with insights into Islamic financial principles and practices, he believes that the program will help raise awareness and build expertise in this growing sector.

In summary, both Mr. Zubair and Mr. Godfrey C. Chitambo recognize the potential for Islamic banking and finance to positively impact Zimbabwe's financial landscape. They opine this training initiative as a means to empower individuals and institutions with the necessary skills and knowledge to participate effectively in the expanding world of Islamic microfinance, thereby contributing to the economic growth and financial well-being of the nation.