Tag 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…
No interest or repayments for six months on Microfinance Ireland’s Covid-19 loans
There will be an option for a six-month moratorium on interest and repayments under the new Microfinance Ireland Covid-19 loan scheme, Minister for Business Heather Humphreys has announced. The Minister urged micro enterprises, which…
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…
Indian micro-lending start-up SmartCoin raises $7 million Series A
an app-based consumer lending start-up, has raised over $7 million in Series A funding from LGT Lightstone Aspada and existing investors Unicorn India Ventures and Accion Venture Lab. The FinTech…
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…
APNA Microfinance Bank-PayPak ink accord to provide debit cards
APNA Microfinance Bank and PayPak have inked a deal after which the later will provide debit cards to the account holders of the bank enabling them to use ATMs for…
Azerbaijan Microfinance Association talks restructuring members’ loan portfolio
The Azerbaijan Microfinance Association includes 45 active non-bank credit organizations, Chairman of the board of the association Jalal Aliyev told Trend on March 5. "To date, 14 non-bank credit organizations…
Maximum borrowing limit on microfinance loans increased in Pakistan
The maximum borrowing limit on low-interest loans, introduced in an effort to relieve the burden on individuals adversely affected by microfinance loans, has been increased from Rs. 40,000 to Rs.…
Microfinance credit facility program for debt-ridden in Northern and North Central Provinces
Cabinet gave approval on Thursday to continue the implementation of a microfinance credit facility program for the debt-burdened people of the Northern and North Central Provinces, by increasing the maximum…
Microfinance banks decry losses after loan
The Chairman of the National Association of Microfinance Banks (NAMB), Kwara State Chapter, Alhaji Ahmad Baba-Suleiman, decried the huge amount owed by civil servants in microfinance banks across Kwara state.…