Center of Islamic Banking and Economics

Press Release
AlHuda CIBE Organized “African Interest-Free Banking and Finance Awards – 2019” in
Addis Ababa, Ethiopia
“Interest-Free Banking and Finance Forum” has been inaugurated in Addis Ababa, Ethiopia

(February 09, 2019 ( Dubai)): “African Interest-Free Banking and Finance Awards – 2019” distribution
ceremony in Ethiopia was celebrated on 6th February, 2019 on the occasion of Interest-Free Banking and
Finance Forum organized by Al-Huda Center of Islamic Banking & Economics (CIBE) at Hyatt Regency,
Addis Ababa, Ethiopia with a specific purpose to encourage Interest-Free banking & Finance Industry as
well as to recognize and celebrate outstanding achievements and contributions of individuals and
institutions within Interest-Free Banking and Finance industry locally. Al-Huda CIBE congratulates all

AlHuda Center of Islamic Banking and Economics

Head Office: P.O Box. 120867, Dubai - U.A.E, Ph: 00971 55 938 99 00
Pakistan Office: 98A Sunflower Society, J1 Johar Town, Lahore – + 92 (0)42 - 35913096 – 8
Email: info@alhudacibe.com Web: www.alhudacibe.com
 Center of Islamic Banking and Economics
winners of Awards. “Our congratulations to all of the winners and nominees of the African Interest-Free
Banking and Finance Awards, 2019 at African Interest-Free Banking and Finance Forum” said Mr. Zubair
Mughal Chief Executive Officer Al-Huda CIBE, “African Interest-Free Banking and Finance Awards 2019”
are truly showcase those companies and individuals that are driving innovations in the rapidly emerging
Interest-Free Finance industry. We thank all of our entrants, judges, sponsors and partners for
supporting the “African Interest-Free Banking and Finance Awards”.

Delegates from various countries participated in the forum. The dignitaries including H.E. Ali Asghar
Golo, Ambassador of Pakistan in Ethiopia and Mr. Muhammad Zubair Mughal, CEO of AlHuda CIBE FZ
LLE, UAE handed over the awards to the winners. Various award categories conferred upon the winners
include: Award for the Best Interest Free Banking & Finance Window Operations to Commercial Bank of
Ethiopia; Award for the Best Interest Free Banking & Finance Products to Oromia International Bank S.C,
Ethiopia; similarly, Award for the Best African Retail Islamic Bank to KCB Bank Kenya Limited; Award for
the Best Interest Free Practitioner in Ethiopian Banking Industry to Awash International Bank; Award for
the Best Islamic Insurance in Africa to Takaful Insurance of Africa, Somali Land; Award for the Best IT
Integration and Innovative Product to Ecobank, Ethiopia; Award for the Best Interest Free Banking and
Finance Institution to United Bank S. C, Ethiopia; Award for the Best Interest Free Practitioner in
Ethiopian Banking Industry to Oromia International Bank S.C, Ethiopia; Award for the Best Interest Free
Practitioner in Ethiopian Banking Industry to Dashen Bank S. C.; Award for the Best Marketing
Contribution to Interest Free Banking & Finance to Oromia International Bank S.C, Ethiopia; The Award
for the Emerging Personality in Interest Free Banking & Finance given to two contributors who are well-
known personalities include Mr. Obbo Abie Sano- President-Oromia International Bank, Ethiopia; and
Mr. Deribie Asfaw, President- Cooperative Bank, Ethiopia; and Award for the Best Marketing
Contribution to Interest Free Banking & Finance to Bank of Abyssinia- Addis Ababa, Ethiopia.

Many Supporters and sponsors had aggressively participated to make the event successful such as
Ethiopian Bankers Association; Bank of Abyssinia, Ethiopia; Oromia International Bank, Ethiopia; Oromia
Cooperative bank S.C, Ethiopia; Commercial Bank of Ethiopia, furthermore media partners including
SUKUK, and True Banking Magazine.

About AlHuda (CIBE)

AlHuda Center of Islamic Banking and Economics (CIBE) is a well-recognized name in Islamic banking and
finance industry for research, advisory and capacity building over the last twelve years. The prime goal
has always been to remain stick to the commitments and provide state-of-the-art Advisory Consultancy
and Education through various well-recognized modes viz. Islamic Financial Product Development,
Shariah Advisory, Trainings Workshops, and Islamic Microfinance and Takaful Consultancies etc. side by
side through our distinguished, generally acceptable and known Publications in Islamic Banking and
Finance.

We are dedicated to serving the community as a unique institution 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.
AlHuda Center of Islamic Banking and Economics
Head Office: P.O Box. 120867, Dubai - U.A.E, Ph: 00971 55 938 99 00
Pakistan Office: 98A Sunflower Society, J1 Johar Town, Lahore – + 92 (0)42 - 35913096 – 8
Email: info@alhudacibe.com Web: www.alhudacibe.com
 Center of Islamic Banking and Economics

For further Details about AlHuda CIBE, please visit: www.alhudacibe.com

For Media Contact:
Ms. Shaguftta Perveen
Manager Communications,
info@alhudacibe.com
Call: +92 42 35913096 - 98

AlHuda Center of Islamic Banking and Economics

Head Office: P.O Box. 120867, Dubai - U.A.E, Ph: 00971 55 938 99 00
Pakistan Office: 98A Sunflower Society, J1 Johar Town, Lahore – + 92 (0)42 - 35913096 – 8
Email: info@alhudacibe.com Web: www.alhudacibe.com