Sentence examples for islamic microfinance from inspiring English sources
Islamic microfinance is the convergence of Islamic finance and microfinance.
Provision of Islamic microfinance is concentrated in only few countries.
80% of the total worldwide reach of Islamic microfinance is concentrated in Bangladesh, Indonesiaand Afghanistan.
There are variety of Islamic Microfinance products (Qarz e Hassan, Murabaha, Mushrqa, Istisna, Bai Salam etc).
Three Islamic microfinance institutions were selected namely, Akhuwat Foundation, NAYMET (NaziranYousaf Memorial Trust), and Farz foundation.
The total assets of Islamic microfinance industry are estimated at US$500.5 billion.
Akhuwat Foundation is using Qarz E Hassan mod of Islamic Microfinancing while NAYMAT and Farz Foundations used Murabahamode of lending.
He concluded that Islamic microfinancing program created a kind of behavior that is ethical and economically desirable and is required along with financing to alleviate poverty.
Jaffari et al. (2011) observed that 80% of the respondents belonging to Lahore, Karachi and Islamabad cities of Pakistan considered loans disbursed by conventional microfinance institutions as un-Islamic.
According to him Islamic finance can offer various ethical instruments and schemes for microfinance which are having ethical and moral features and therefore can be more effective and profitable.
It has immense potential to amalgamate the Islamic principle of caring for the poor and miserable with the microfinance's mission to reach the poor and give them financial access.
