Financial regulators, policymakers, and industry experts convened in Addis Ababa on Monday for the 6th International Interest-Free Banking and Takaful Forum 2026, aimed at expanding Islamic finance across Africa.
Organised by the AlHuda Centre of Islamic Banking and Economics (AlHuda CIBE) under the patronage of the National Bank of Ethiopia, the Interest-Free Banking and Takaful Forum operated under the theme “Connecting Global Expertise with Africa’s Emerging Islamic Finance Markets.”
Guests of honour at the event included Solomon Desta, Vice Governor of Financial Stability at the National Bank of Ethiopia; Hamse Abdirahman Khayre, Deputy Governor of the Bank of Somaliland; Zuhair Abdullah Ensour, Jordan’s Ambassador in Addis Ababa; and Dr. Yared Mola, President of the Association of Ethiopian Insurers (AEI).
“Africa offers enormous potential for the growth of interest-free finance, and Ethiopia is emerging as one of the continent’s most promising markets,” said Muhammad Zubair Mughal, Chief Executive Officer of AlHuda CIBE. “Through this forum, we aim to connect global expertise with local opportunities, facilitate knowledge sharing, encourage investment, and support the development of innovative, inclusive, and Shariah-compliant financial ecosystems. We are honored that this prestigious forum is being organized under the patronage of the National Bank of Ethiopia, demonstrating the country’s commitment to advancing ethical finance.”
Discussions during the forum covered regulatory and Shariah governance, Takaful, Islamic FinTech, blockchain, investment, liquidity management, and financial inclusion. The proceedings highlighted Africa’s position as a fast-growing market for Islamic finance, driven by a large unbanked population, expanding Muslim communities, and regulatory initiatives.
The Interest-Free Banking and Takaful Forum also addressed Ethiopia’s introduction of interest-free banking, supported by regulatory reforms, the growth of digital financial services, and the establishment of the Ethiopian Securities Exchange.
Coinciding with the forum, the 6th Interest-Free Banking and Takaful Awards 2026 were held on Monday afternoon to recognise contributions to the global interest-free and ethical finance industry.
Following the main event, AlHuda CIBE scheduled a one-day workshop on “Risk and Deposit Management in Interest-Free Banking and Finance” for Tuesday, an industry visit on August 19, and a city tour on August 20.
Operating since 2005, AlHuda CIBE provides research, advisory, and capacity-building services in Islamic banking and finance. The organisation states it serves institutions and professionals in more than 105 countries and has worked on industry development in over 35 countries globally.
