Archives for Islamic Microfinance - Page 3
Islamic social financing to support efforts to recover and rebuild from the COVID-19 pandemic
The United Nations and the Islamic Development Bank today launched an initiative to assist finance efforts to recover better as the world continues to grapple with the COVID-19 pandemic. Coming…
MICROCAPITAL BRIEF: FINCA Expands Microfinance Fintech in Uganda, Azerbaijan, Kyrgyzstan
FINCA Impact Finance, a US-based network of financial institutions, recently carried out several campaigns catering to low-income people through its affiliates in Africa and Asia. FINCA Uganda launched a “Digital…
Branch International acquires majority stake in Century Microfinance Bank
Branch International, a mobile money lending app, has received regulatory approval to buy controlling shares in Century Microfinance Bank. In a notice published in the Kenya Gazette of Friday, May…
Islamic banking continues to grow in South Africa
An increasing awareness and understanding that every obligation attached to one’s wealth needs to be fulfilled in the proper manner is spurring a local boom in demand for alternative financial…
Pakistan to get Rs75.5 bn from Saudi Development Fund
In a surprise development and as a success of Prime Minister Imran Khan’s visit, the Kingdom of Saudi Arabia has committed to provide $500 million (Rs billion) to Pakistan from…
Reviving Islamic social finance for a sharing economy
As we write this, the world community is witnessing one of the most devastating humanitarian crises in the history of mankind, together with deep worries and anxieties. We are not sure…
ADB, CD Finance Sign Loan To Support Rural Microcredit For Farmers, Entrepreneurs, And Women Borrowers
The Asian Development Bank (ADB) and CD Finance Management Co., Ltd. (CD Finance) held a virtual signing ceremony for a $40 million (in yuan equivalent) loan to finance microloans to…
Islamic Development Bank and UN agency pledge $250m each to tackle climate change and improve food security
Jeddah-based Islamic Development Bank and UN agency International Fund for Agricultural Development signed a cooperation and co-financing agreement to tackle climate change, improve food and water security and other strategic…
Zakat: Ramadan to fuel rapid growth in philanthropy among British Muslims
With Ramadan now under way with its emphasis on charitable giving, it’s apt to reflect that there has never been a more exciting time for philanthropy based on Islamic principles. As a…
UAE residents major contributors to UN Refugee Zakat Fund
People in the UAE have ranked the highest in terms of the number of donations to the UN’s Refugee Zakat Fund, according to an official at the United Nations High…