Author Archives: IMFN
SECP proposes amendments to NBMFC regulations
In order to improve governance and risk management, the Securities and Exchange Commission of Pakistan (SECP) has proposed amendments to Non-Banking Microfinance Companies (NBMFCs) and Notified Entities Regulations, 2008. The…
Interest-free loan scheme for tribal districts launched
The Khyber Pakhtunkhwa government has signed an agreement with Akhuwat Foundation to launch interest-free microfinance scheme for entrepreneurship development in the merged tribal districts. Under the scheme, small loans of…
Islamic banking sector growth to continue despite Covid-19
Growth in Oman’s Islamic banking sector is likely to continue into 2021-2022 building on the strong momentum seen in 2020, despite the dual impacts of Covid-19 and lower oil prices,…
Islamic philanthropy: UNCHR’s Zakat funds saw 12.5% jump in donations to $48.5mln
The UN Refugee Agency supported million refugees and internally displaced people (IDPs) through Zakat and Sadaqah funds in 2020, thanks to institutional partners and philanthropists across the region and globally.…
Islam Banking Growth
Covid-19 has cast a pall of recessionary gloom over the economy. The jolt of the pandemic forced many traditional businesses to completely rethink how they work and some even emerged…
UN Zakat Fund helps 2 million refugees hit by Covid-19
Zakat Funds helped support over 2 million vulnerable and displaced refugees last year, but a lot still needs to be done, a UN agency report revealed. Zakat is a obligatory…
Islamic banks take another 5% share of Pakistani conventional banks
Islamic banking industry’s assets and deposits have more than doubled during the last five years and it now has 17% share in assets and in deposits of the overall banking…
Pakistan reports 30% growth in Islamic banking assets
Pakistan has recorded a 30% growth in Islamic banking assets during the 2020 fiscal year. According to a report released by the State Bank of Pakistan on Wednesday, the overall…
Microfinance Development Company to Launch Liquidity Management Platform
The Microfinance Industry in Nigeria is set to experience a major breakthrough in its operations, as the Microfinance Development Company Ltd (MDCL), plans to launch its Intermember Liquidity Placement Platform…
Global Takaful & Re-Takaful Forum held successfully in Addis Ababa, Ethiopia
AlHuda Centre of Islamic Banking and Economics along with its multilateral partner ICD- Islamic Corporation for the Development of the Private Sector and in association with Ethiopian Reinsurance conducted Global…