ICD is Committed to Strengthened the Islamic Finance during the COVID 19

Lahore: AlHuda CIBE has launched a Webinar Series on Islamic banking & finance to learn with Islamic finance experts from around the world. The learning series is continuing with the different insightful topics in four major languages i.e. English, Arabic, French, and Russian. During the webinar series by AlHuda CIBE, the global leader, Mr. Ayman Sejiny has an interactive session on “How ICD supports its Member Countries during COVID-19”. In his valuable session, he shared the insights and highly appreciates the stimulus packages that involve joint efforts between governments and central banks that cover the fiscal, monetary, and macro-financial fronts to various degrees. He explained that The Islamic Corporation for the Development of the Private Sector (ICD) continues to grapple with this pandemic and in the spirit of solidarity, it is imperative for us to join forces and address the multi-faceted impact of the crisis and focus on protecting populations in our member countries. COVID-19 is a game-changer for Digital Transformation. The increasing need for higher technology capabilities to connect businesses, customers, and supply networks is fast-tracking the world into digitalization. He concluded the interactive session by emphasizing that the ICD member countries need to focus on this effort and unlock the potential of SMEs with innovative solutions.

The purpose of the webinars is to promote and strengthen organizations and professionals. Besides the promotion of this growing phenomenon, the aim of the webinar series is also to acknowledge the need of giving hype to the system beyond any political and religious refrains. The initiative of the webinar series is also included to spread the awareness among general public and professionals of different industries including banking, Takaful, microfinance, etc. The participants of the webinars from different countries of the world are learning about Islamic finance. The demand for Islamic finance is increasing enormously and many new markets are seen to be emerging on the horizon in the world, there is a need to uplift the knowledge and understanding about this industry focusing on various aspects of the industry.

Mr. Muhammad Zubair- Global CEO of AlHuda CIBE said that Islamic finance gaining momentum exponentially and securing a prominent place in the globe especially after the recent financial crisis. The emergence of the Islamic finance industry is high due to its sustainability and viability. He appreciated ICD working hard to strengthen the Islamic finance industry during the COVID-19 situation.

ICD was established in 1999 to support the economic development of its member countries and now has an authorized capital of $4 billion. Currently, the shareholders of ICD are the IsDB, 55 Islamic countries, and five public financial institutions. ICD fosters sustainable economic growth in its 55 member countries by financing projects which are selected based on their contribution to economic development.

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About AlHuda CIBE:

AlHuda Center of Islamic Banking and Economics (CIBE) is a well-recognized name in Islamic banking and finance industry and dedicated to offering advisory, consultancy, product development, research and education from last 15 years. We, side by side, also publish distinguished publications in Islamic banking and finance. The prime goal has always been to remain stick to the commitments providing Services not only in UAE/Pakistan but all over the world. We have so far served in more than 35 Countries for the development of Islamic Banking and Finance industry.

The further information and registration for free webinar series programs, kindly visit at www.alhudacibe.com/webinar . The attendees will also be given eCertificates. For further Details about AlHuda CIBE, please visit: www.alhudacibe.com 

For Media Contact:
Ms. Shaguftta Perveen
Manager Communications,
info@alhudacibe.com

© Press Release 2020