Islamic Finance

Maldives launch first Islamic finance magazine: ‘Laaba’ to act as a platform to engage regional & global industry developments

| 11 July, 2018

Maldives Center for Islamic Finance Ltd (MCIF) is delighted to announce the launch of Laaba, the first publication in the archipelago dedicated to Islamic finance and wider Islamic economic sectors. Published by MCIF, the magazine will be the first platform in South Asia to bring together regional hubs with global partners in engaging knowledge, sharing ideas and collaborating to develop an influential voice for the region.

Laaba will set the tone as a channel of communication on the compelling issues shaping the future of the industry and the wider economic sectors. The first issue has embraced the theme of responsible and ethical finance and how this is aligned with Islamic finance and the wider Islamic economic sectors; bringing together Islamic finance practitioners, financial specialists, stakeholders, global thought-leaders and policy-makers.

Laaba is also an initiative towards the internationalization of Islamic finance in Maldives and South Asian with the objective of creating interlinkages between economies, enabling cross border investment activities through knowledge sharing and innovation.

MCIF will unveil the highly anticipated publication at the 2nd International Halal Management Conference (IHMC) on July 17-18 in the Maldives, with Home Affairs Minister, the Honorable, Mr. Azleen Ahmed making the introduction. The conference theme of ‘Sustaining A Global Halal Ecosystem’ ties in well with the inaugural edition of the magazine, focussed on the industry’s role and responsibilities in sustainability going forward.

Ibrahim Didi, Managing Director at MCIF said: “This is a momentous time for Maldives and our organization. After two years of hard work we have finally been able to share the strategic vision we have for developing the region as a vibrant hub for Islamic finance. The launch of Laaba will go a long way in making that vision a reality, revealing both opportunities and challenges faced in South Asia to a global Islamic finance audience. We want to see the region build partnerships and enjoy investment in the real sector across South Asia which is home to half a billion Muslim consumers.”

In today's crowded information landscape, Laaba aims to be the thoughtful, in-depth and authentic space for articles and interviews: “We want to be able to share the knowledge of practitioners and experts,” says Dr Aishath Muneeza, Chairwoman of MCIF. “And we also hope we can inspire and connect regional and global Islamic hubs, with the aim to develop a stronger industry through shared knowledge.”

Dr Aishath Muneeza, added: “Laaba is an important initiative for the government of Maldives, demonstrating its commitment to the development of Islamic finance in the country and the region. It is an honor for us to launch a quality product that is exemplary to the South Asian region. This platform is for the global Islamic finance community to share knowledge, experience and ideas, which will help the industry grow and innovate.

“Dissemination of knowledge is an important tool for us to progress in Islamic finance and to become a regional hub for the industry. Our aim for this year is to create awareness through sharing information and with this first issue of Laaba we are achieving a substantial part of this goal. We believe Laaba will assist to understand the great potential of Islamic finance. I would like to take the opportunity to thank all the contributors, sponsors and stakeholders who helped to realize this initiative.”

The first issue of Laaba includes some ground-breaking articles including the World Bank‘s look at the role of Islamic finance in supporting SMEs, the role of Islamic social financing seen through initiatives in Indonesia and Kenya and how green financing and impact investing have a key part to play in the future of the industry. Laaba also includes exclusive interviews with CEOs across Maldives financial institutions, including the Maldives Islamic Bank, Maldives Capital Markets Development Authority and the fully-fledged shariah-compliant takaful operator, Amana Takaful.

Sponsored by the Housing Development Corporation Limited and Amana Takaful Insurance Ltd, the magazine will be launched at the 2nd International Halal Management Conference (IHMC) at Maldives National University, introduced by the Honorable, Mr. Azleen Ahmed, the Minister of Home Affairs, on July 17-18, 2018.

For more information about Laaba, please email us at  info@mcif.mvor call +960 300-8300

Social media hashtags: #LAABA18 #MCIF #ResponsibleAndEthicalFinance

NOTES TO EDITOR

About Maldives Center for Islamic Finance Ltd (MCIF)

MCIF is committed to connecting Islamic finance in Maldives with the international Islamic finance community. Government-owned, it is the lead operator in Maldives engaged in policy development, capacity building, representation and innovative product development in Islamic finance. MCIF also assists in the issuance of cross-border Islamic financial instruments for infrastructure projects and development projects by pooling funds in the region. The Center will continue to build its reputation as a hub for South Asia through product offerings, fund management, advisory, research, knowledge sharing, enhancement of financial inclusion within the region and development of talent pools in a sustainable manner.

W: www.mcif.mv

E: info@mcif.mv

T: +960 300-8300

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