Lahore based AlHuda Center of Islamic Banking and Economics (CIBE) has announced that it would be conducting a joint-training workshop in Islamic Banking and Finance in conjunction with Franco-American Alliance for Islamic Finance (FAAIF) and the University of New Orleans on October 06 and 07, 2014 in New Orleans, Louisiana.
Muhammad Zubair Mughal, Chief Executive Officer of AlHuda CIBE, said “Islamic Banking and Finance has an important role to play in the US Economy and Islamic Finance has gained further prominence after the International financial crisis.”
He further added “More than 30 Islamic financial institutions are operating in the US but the potential is much higher as there is a high unmet demand for Islamic financial products in different parts of North America and South American Countries like Brazil, Argentina, Canada and others countries.”
North America has a population of 8 million Muslims approximately while 2% of Canada’s population practice Islam. Argentina has the largest Muslim population in Latin America with up to 2% of the population practicing islam, which shows a big demand for Islamic financial products exists in the region.