Islamic banking: two-day international conference to be held in Mauritius

A two-day international conference on Islamic banking will be inaugurated on April 5 in Mauritius wherein researchers, economists, Sharia'a scholars, banking and finance experts will share their views and experiences with the participants. This conference is aimed to promote Islamic Banking and to create awareness in current innovations in Islamic finance in Mauritius, disclosed an AlHuda Centre of Islamic Banking and Economic's spokesperson here on Thursday.
Out of the total of 1.3 million population, this beautiful African Island has 18 percent Muslim population due to the friendly taxation system, effective and efficient financial regulations. Mauritius is an ideal place for investment in Islamic finance for International Islamic Financial Institutions. As per the World Bank report of 2008, Mauritius stands at the top in African countries with respect to the business opportunities. A full-fledged Islamic bank is expected to be set-up in Mauritius this year. HSBC, Tata Fund, Albaraka Multipurpose Society and Insurance Company have already introduced Islamic financial products, which are being adopted by the community.
The organiser of this conference, Zubair Mughal, Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics (CIBE), said this conference will enhance the flagship of Pakistan's Islamic Finance industry.