Islamic Microfinance - An emerging Market Niche
From HodHood
Contents
Top 20 FREQUENT WORDS
islamic 73 microfinance 32 finance 26 financial 25 enterprises 23 financing 21 institutions 20 micro 16 loan 13 based 12 funds 12 institution 11 loans 11 services 11 banks 10 program 9 waqf 9 banking 8 billion 8 clients 8 collateral 8 conventional 8 malaysia 8 mfis 8
DOCUMENT KEY POINTS
- principles of islamic finance the principles of islamic finance are laid down in the shariah which disallows riba and there is a consensus among muslim scholars that riba is not only restricted to usury but habib ahmed waqf based microfinance realizing the social role of islamic finance islamic research and training institute islamic development bank group paper written for the international seminar on integrating awqaf in the islamic finance sector singapore march of
- islamic microfinance a a new approach to help small enterprises role of islamic microfinance in recent years microfinance has emerged as an important instrument to help a large number of unbankable members of society as a tool to help reduce poverty and encourage economic growth in neglected parts of the world
- murabaha model under this model the microfinance institution buys goods and resells them to the microentrepreneurs for the cost of the goods plus a markup to cover up administrative costs
- islamic finance focuses on interest free methods of providing capital as the shariah assumes lending as purely a charitable exercise rather than as a means of making profit
- no interest is charged but if the financing is not repaid within the agreed duration the lender retains the right to seize and auction off the collateral to cover the financing and the remaining balance to be returned to the borrowers
- ar rahnu islamic pawn broking ar rahnu is a shariah based pawn broking that extends short term loans between days to months that requires collaterals such as gold which are valued at current prevailing market price
- it is argued that islamic banks can provide microfinance at lower operating and financing costs compared with mfis as it can operate from existing branches and do not require a whole range of professionals staffs and not incur extra fixed costs
- since rolling out its revamped murabaha products which incorporate the element of risk sharing finca afghanistan s operational sustainability has risen from to the number of active clients has risen from to over and the total portfolio has more than quadrupled increasing from us
- ibrahim poverty alleviation via islamic banking finance to micro enterprises in sudan some lessons for poor countries paper presented to the workshop on poverty and governance in the middle east and north africa region sana a yemen august mea wards program of
- most of these institutions are owned by private sector such as the sudanese islamic bank faisal islamic bank of sudan islamic cooperative development bank and farmers bank
- for bri to maximize its outreach and remain profitable it has to include among its clients both the poor and the non poor and cater their demand for smaller and larger loan sizes
- while some have been able to harness funds from the traditional institutions such as waqf zakah and sadaqat most of the developments of islamic microfinance programs have generally been financed by donor and government funds
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DOCUMENT WORD ANALYSIS
Main Category
- AlHuda Material\islamic micro
KeyWords
islam bankable microfin financial finance institute cooper bprs productcommodity indonesia convent bmt rural service sector commercial deposit average loan required
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DOCUMENT REFERENCES
Number of Pages
9
Published Date
2008-07-29 05:18:25
