Archives for Islamic Microfinance - Page 3
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…
NBE’s Tamkeen for microfinance begins activities in Upper Egypt
he National Bank of Egypt’s (NBE) microfinance and electronic payment arm, Al Ahly Tamkeen, has started to provide its services at certain branches in Upper Egypt. Dalia Al-Baz, Vice-Chairperson NBE…
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 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.…