Author Archives: IMFN
NIRSAL MFB Launches New Loan Products For MSMEs
Nirsal Microfinance Bank Limited (NIRSAL MFB) has announced the launching of new credit facilities for micro, small and medium enterprises (MSMEs). The bank said the new launch is part of…
Khalifa Fund For Enterprise Development offers $30mln to support SMEs in Kenya
In the implementation of directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the Khalifa Fund For Enterprise Development (KFED) and the National Treasury & Planning Ministry in…
Microfinance banks’ loan to the Nigerian private sector hits N1.12 trillion in June 2022
Loans by Microfinance banks surged to trillion as of the end of June 2022, representing a increase compared to billion recorded as of the end of 2021. This means that…
Yes Bank open to acquiring microfinance entity as $1.1 billion fundraise gains pace, MD says
Private sector lender Yes Bank is open to acquiring smaller entities, especially from the microfinance segment, if the target entity is a good opportunity to make investment returns, its Managing…
Solutions for an interest-free economy explored
The regulators, practitioners and academicians have joined hands to explore viable solutions for an interest-free economy in the country. The Centre for Excellence in Islamic Finance (CEIF) IMSciences brought them…
Pakistan Makes Coupon Payment on $1 Billion Sukuk to Sharjah Islamic Bank
In a statement made to the publication, the State Bank of Pakistan confirmed the development and said “Pakistan’s Sukuk coupon payment has been executed and all debt repayments during this…
IsDB launches $10.5 bln program to address food crises in member countries
The Islamic Development Bank (IsDB) has launched a Food Security Response Program (FSRP) worth $ billion to support the bank’s 75 member countries, including Egypt, to address the ongoing food…
SECP grants license to SAFCO microfinance company (pvt) limited
Securities & Exchange Commission of Pakistan (SECP) has issued Microfinance License to a newly established “Non-Banking Microfinance Company” namely SAFCO Microfinance Company (Private) Limited (“SMC”). As per the details, SMC…
ICB Islamic Bank makes a profit for the first time in its history
In the April to June quarter of 2022, the bank's net profit stood at crore and earnings per share (EPS) at But from January to June of this year, its…
Russia Set to Embrace Islamic Banking
The mass-circulated Russian daily Kommersant reported that the non-credit banking institutions would operate as financing partnership organizations (FPO) and offer Sharia-compliant financial products to their customers. The report added that…