Collaboration to Strengthen Capacity Building, Advocacy, and Knowledge Sharing for Interest-Free Finance in Ethiopia
Spokesman Report
Dubai, UAE: AlHuda Centre of Islamic Banking and Economics (AlHuda CIBE), a globally recognized advisory, research, and capacity-building institution in Islamic banking and finance, has signed a Memorandum of Understanding (MoU) with the Ethiopian Interest Free Finance Professionals Association (EIFFPA), Ethiopia. The agreement marks an important step toward promoting the development of interest-free finance through professional collaboration, institutional capacity building, advocacy support, and knowledge sharing in Ethiopia.
The MoU establishes a framework for cooperation between the two institutions to promote Islamic finance literacy, professional development, and institutional strengthening. Under this partnership, AlHuda CIBE and EIFFPA will collaborate in key areas including advocacy and consultancy, education and training, conferences and seminars, public awareness initiatives, knowledge-sharing platforms, and professional exposure visits. These areas are explicitly outlined in the MoU as the core domains of collaboration between the parties.
Through this alliance, both institutions aim to support the growth and expansion of interest-free finance by engaging relevant stakeholders, developing policy and advocacy materials, and strengthening the professional knowledge and technical capacity of industry practitioners. The partnership also provides for short-term training courses, webinars, distance learning programs, conferences, symposiums, workshops, and financial literacy initiatives to promote best practices and sustainable sector development.
Mr. Muhammad Zubair Mughal, Chief Executive Officer of AlHuda CIBE, stated: “We are pleased to partner with the Ethiopian Interest Free Finance Professionals Association to support the advancement of interest-free finance in Ethiopia. This collaboration reflects our continued commitment to strengthening emerging markets through professional education, technical support, advocacy, and institutional partnerships. Ethiopia presents strong potential for the development of interest-free finance, and we believe this alliance will contribute meaningfully to building sector knowledge, industry linkages, and long-term growth.”
Under the agreement, AlHuda CIBE will contribute by developing and delivering training content, learning materials, and industry-focused programs in Islamic banking and finance. It will also provide technical expertise, facilitate access to professional networks, support exposure visits, and help design agendas and learning outcomes for collaborative programs. EIFFPA, on the other hand, will identify and nominate qualified participants, promote the programs through its networks, facilitate stakeholder engagement, and provide local market insights relevant to the Ethiopian interest-free finance sector. The MoU also assigns several joint responsibilities, including client and participant sourcing, marketing and communication support, and technical input for policy and regulatory discussions.
Mr. Abdulkadir Wolela, Chief Executive Officer of EIFFPA, said: “This partnership with AlHuda CIBE brings valuable international expertise and practical knowledge to Ethiopia’s growing interest-free finance industry. By working together on training, advocacy, policy engagement, and exposure opportunities, we aim to enhance professional standards, expand awareness, and contribute to the development of a more inclusive and sustainable financial ecosystem in Ethiopia.”
The agreement also provides for mutual promotion of each party’s services and activities and allows both institutions to display each other’s logos and website links under strategic partnership arrangements on their respective platforms and promotional materials. The MoU is valid for an initial period of two years and may be renewed upon mutual written agreement.
This strategic partnership reinforces AlHuda CIBE’s growing footprint in Africa and reflects its mission to promote Islamic banking and finance through advisory excellence, education, policy support, and sustainable institutional collaboration. It also highlights EIFFPA’s commitment to advancing the professional and institutional ecosystem of interest-free finance in Ethiopia through global partnerships and sector-focused initiatives.
