Press release on launch islamic banking in uzbekistan
Published on: Mar 4, 2016
Transcripts - Press release on launch islamic banking in uzbekistan
CENTRE OF ISLAMIC BANKING& ECONOMICSPress ReleaseFirst Initiative to launch Islamic Banking in UzbekistanHamkor Bank advancing towards Islamic Banking, AlHuda CIBE appointed asAdvisor12th February, 2013.(Lahore - Pakistan) Uzbekistan is an important Central Asian country with a population of 30 million; out ofthem 96% population is Muslims. It is not only enriched with gas, oil and other natural resources but, alongwith this, it has been the center of knowledge and Islam for a long time. It was through Uzbekistan thatIslam paved its way to the sub-continent (Presently: Afghanistan, Pakistan, Bangladesh and India).Moreover, two famous Muhaddis; Imam Bukhari and Imam Tirmizi are also enshrined here. Uzbekistanscities Bukhara, Samarkand and Tashkent remained the hub of Muslim civilizations knowledge and skills foran extended period of time and the whole world benefited from their skills and knowledge.
Muhammad Zubair Mughal, Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics metwith Ikram Ibragimov, the chairman of supervisory board of Hamkor Bank in Uzbekistans capital, Tashkent.During the meeting, they had a detailed discussion on affairs of their mutual interest for the advancement ofIslamic banking in Uzbekistan. According to Mr. Ikram Ibragimov, Hamkor Bank is the only bank is Uzbekistanwhich is working in collaboration with international organization e.g World Bank, Islamic Development Bank,Asian Development Bank, European Bank, KFW, Triple Jump and others. He stated "We are happy toannounce that AlHuda CIBE Pakistan will be our Advisor for Islamic Banking. They will provide usConsultancy, Shariah Advisory and Human Capital Development in this field so that Islamic banking can beinitiated in Uzbekistan with sound foundations." Furthermore, he said that their bank has a wide network inUzbekistan through which they wish to render the services of Islamic Banking.Mr. Muhammad Zubair Mughal said that it is an honor for AlHuda CIBE to provide professional services forthe commencement of Islamic banking in Uzbekistan. He mentioned that Uzbekistan will prove to be a largemarket for Islamic banking in near future and there is a huge potential for other Central Asian countries tobenefit from it as well. He thanked Mr. Ikram Ibragimov for choosing AlHuda CIBE for this purpose. A three-member delegation of AlHuda CIBE team will strengthen the human capital of Humkor Bank towards IslamicBanking at their office from this week for properly initiate assignment.It should be noted that Hamkor Bank is a part of a large financial group of Uzbekistan. The group comprisesof a bank, insurance company, 4 leasing companies and other institutions.Head Office: 192- Ahmad Block, Ph: +92-42-35913096-8 E-mail: email@example.comNew Garden Town Lahore, Pakistan. Fax: +92 -42-35913056 Website: www.alhudacibe.com