It had been reported that Muhammad Zubair Mughal, Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics met with Ikram Ibragimov, the chairman of supervisory board of Hamkor Bank in Uzbekistan's capital, Tashkent.

During the meeting, they had a detailed discussion on affairs of their mutual interest for the advancement of Islamic banking in Uzbekistan. According to Mr. Ikram Ibragimov, Hamkor Bank is the only bank is Uzbekistan which is working in collaboration with international organisation e.g. World Bank, Islamic Development Bank, Asian Development Bank, European Bank, KFW, Triple Jump and others. He said, "We are happy to announce that AlHuda CIBE Pakistan will be our Advisor for Islamic Banking. They will provide us Consultancy, Shariah Advisory and Human Capital Development in this field so that Islamic banking can be initiated in Uzbekistan with sound foundations."

He added that their bank has a wide network in Uzbekistan through which they wish to offer Islamic banking.Muhammad Zubair Mughal said that it is an honour for AlHuda CIBE to provide professional services for the commencement of Islamic banking in Uzbekistan. He mentioned that Uzbekistan will prove to be a large market for Islamic banking in near future and there is a huge potential for other Central Asian countries to benefit from it as well.

He thanked Mr. Ikram Ibragimov for choosing AlHuda CIBE for this purpose. A three-memberdelegation of AlHuda CIBE team will strengthen the human capital of Humkor Bank towards Islamic banking at their office from this week for properly initiate assignment.