The Centre for Islamic Finance, Compliance and Advice (CIFCA) entered into a Memorandum of Understanding (MoU) with AlHuda Centre for Islamic Banking and Economics (CIBE) in 2021 in Dubai, establishing a framework for strategic cooperation in Islamic finance development, capacity building, and advisory services in East Africa.
In line with CIFCA's mandate to promote a well-regulated and knowledge-driven Islamic finance ecosystem in Tanzania, the Secretary General undertook a physical visit to AlHuda CIBE offices in Dubai in November 2025 to deepen implementation of this partnership.
Key Objective:
This visit was guided by the following strategic objectives
- Strengthening Institutional Collaboration: To reinforce working relations between CIFCA and AlHuda CIBE and align upcoming programmes with CIFCA's national agenda for Islamic finance development.
- Facilitating International Exposure Opportunities: To explore structured programmes that provide hands-on exposure to advanced Islamic finance jurisdictions, particularly for Tanzanian professionals and scholars.
- Positioning CIFCA in Global Islamic Finance Networks: To enhance CIFCA's visibility and participation in global Islamic finance platforms and events through strategic partnerships.
Key Outcomes:
The meeting resulted in several high-impact and actionable outcomes, as outlined below:
- Collaboration on Pakistan Islamic Finance Ecosystem Study Tour: CIFCA committed to Mobilising participants from Tanzania for AlHuda’s Pakistan study tour programme, and supporting broader participation in future AlHuda-led initiatives;
- Participation of AlHuda in CIFCA 2026 Annual Islamic Finance Conference: AlHuda CIBE formally committed to participate in CIFCA's 2026 Annual Islamic Finance Conference, and contribute expertise, global insights, and technical knowledge;
- Joint Organization of Africa Islamic Finance Summit - August 2026: Both institutions agreed to co-organize the Africa Islamic Finance Summit 2026, and Build on previous successful collaborations.
Strategic Engagement with Noor Shariah & Institutional Visits in UAE (Dubai & Sharjah)
Background & Context:
As part of CIFCA's ongoing strategy to internationalize Tanzania's Islamic finance ecosystem and strengthen institutional partnerships with globally recognized advisory firms, a high-level strategic meeting was held with Noor Shariah Technologies Solutions in Dubai. Noor Shariah is a UAE-based international advisory firm specializing in Shariah advisory, governance, risk, compliance (GRC), financial advisory, and fintech solutions, with an expanding global footprint across multiple jurisdictions.
This engagement was further enriched by institutional exposure visits in Sharjah, including:
- A visit to Nur ul Ilm Institute, a knowledge and training institution collaborating with Noor Shariah on capacity building initiatives
- Participation in the Shaijah International Book Fair ecosystem, facilitated by Nur ul Ilm
These engagements collectively provided practical insights into integrated Islamic knowledge ecosystems, combining:
- Shariah advisory;
- Capacity building infrastructure; and
- Knowledge dissemination platforms.
Key Objective:
The strategic engagement was guided by the following objectives:
- Strengthening Capacity Building in Tanzania;
- The meeting culminated in the development of a Strategic Partnership Agreement (MoU) under the following arrangements:
- CIFCA designated as local facilitator and ecosystem enabler in Tanzania and will be entitled to 10% revenue share from engagements.
- Noor Shariah to lead technical advisory and provide execution support including bearing operational and project-related costs. Areas of support to include: Capacity Building & Training; Shariah Advisory & Assurance; Governance, Risk & Compliance (GRC); Financial Advisory & Transactions; Technology & FinTech Advisory, ESG and Sustainability Integration, and Market Development Initiatives.
- CIFCA and Nur U1 Dm will cooperate in joint academic programs, Scholar exchange initiatives, and curriculum development support.
