AlHuda CIBE FZ LLE UAE & Philippine Economic Zone Authority will work together for the development of Islamic banking and finance in Philippines

AlHuda Centre of Islamic Banking and Economics (AlHuda-CIBE) and Philippine Economic Zone Authority (PEZA) have signed a MoU in Dubai- UAE. The MoU was signed by Mr. Muhammad Zubair Mughal, CEO, AlHuda-CIBE and Hon BGen Charito B. Plaza, Director General (Deputy Minister), PEZA, Philippines.

While talking to this occasion, Hon BGen Charito B. Plaza, said that this MoU will prove to be a great initiative for the progress of Islamic banking and finance in Philippines where PEZA will be able to take the maximum benefit from the expertise of AlHuda-CIBE in the fields of Shariah advisory, consultancy, capacity building, training and conferences.

She added that according to this MoU, both organizations will work together to strengthen the abilities of Islamic Banking and Finance in Philippines.

Mr. Muhammad Zubair, said that these moments are very rejoicing when AlHuda-CIBE and PEZA enter into a joint collaboration, we will pool our expertise and resources to achieve the optimum goal of promotion of Islamic banking and finance in Philippines.

This step will surely benefit Islamic banking and finance in the field of capacity building. He further added that we will not only be confined to this agreement but we will also extend from Islamic banking and finance to Halal tourism, Halal products certifications and other pertinent fields. He said that there is a dire need of holding capacity building and training programs.

He also added that Islamic financial system has emerged as a complete sustainable system of financial stability, as Islamic banking and financial system is rapidly emerging in different countries, and we hope that this MoU will cater all possible solutions for the strengthening of this emerging industry.