Archives for Islamic Microfinance
Zakat Fund issues new instructions for aid seekers
Within the framework of the precautionary measures taken by the State to reduce the spread of COVID-19, the Zakat Fund of the Ministry of Endowments (Awqaf) and Islamic Affairs has…
New Islamic endowment trust seeks to be UK’s first waqf to combine commercial and social investments
A new charitable foundation is being set up in the UK that aims to become a £1 billion waqf fund combining commercial and social investments. There are waqf funds in the…
Al Wifaq International Islamic Bank selects ICSFS core banking package
Al Wifaq International Islamic Bank for Investment and Finance, a newly established bank in Iraq, has selected the most holistic Islamic banking software; ICS BANKS ISLAMIC from ICS Financial Systems…
Senegal’s microfinance institution UM-ACEP seeks $10mln IFC loan
The Senegalese microfinance institution UM-ACEP (Union des Mutuelles Alliance de Crédit et d'Epargne pour la Production) is negotiating a five-year senior loan in local currency of up to $10 million from…
Sokoto Disburses N1bn Soft Loans to Traders, Artisans
By Onuminya Innocent The Sokoto State government has disbursed interest-free loans of N1 billion to traders and artisans in the state. The disbursement was done at the flag-off of the…
Moroccan jurist Ahmed Raissouni slammed for calling micro-loans «Sharia-compliant»
he pragmatic position of Moroccan jurist Ahmed Raissouni, head of the International Union of Muslim Scholars, on a micro loan scheme, implemented by financial institutions and presented to King Mohammed…
$5trln needed annually to achieve Sustainable Development Goals
The world needs financing of about $5 trillion each year to make the necessary progress towards achieving Sustainable Development Goals (SDGs), a top UN official has said. According to UN…
9th Global Islamic Microfinance Forum Successfully Concluded in Lahore – Pakistan
Under the Theme of Financial Inclusion through Enterprise Development for Poverty Alleviation 9th Global Islamic Microfinance Forum was successfully concluded at Governor House Lahore, Pakistan. The purpose of that forum…
SWF signs MoU with Akhuwat Microfinance
Sona Welfare Foundation (SWF) as the implementing partner for Fauji Fertilizer Company (FFC) has signed a Memorandum of Understanding with Akhuwat Islamic Microfinance in efforts to financially support and empower…
Facilitation of Microfinance Sector to help Document Economy
Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Wednesday stressed the need to facilitate the microfinance sector, as the sector has been providing solutions to…