Your SlideShare is downloading. ×
3rd Global Islamic Microfinance Forum' 2013
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Introducing the official SlideShare app

Stunning, full-screen experience for iPhone and Android

Text the download link to your phone

Standard text messaging rates apply

3rd Global Islamic Microfinance Forum' 2013

110
views

Published on

AlHuda-Centre of Islamic Banking and Economics (CIBE) is a well known name in Islamic Banking and Finance sector which focuses on training, awareness, advisory and publications on Islamic Banking & …

AlHuda-Centre of Islamic Banking and Economics (CIBE) is a well known name in Islamic Banking and Finance sector which focuses on training, awareness, advisory and publications on Islamic Banking & Finance in order to promote the industry. AlHuda CIBE has organized a successful Conference "3rd Global Islamic Microfinance Forum" held on 6th & 7th October, 2013 in Dubai. AlHuda CIBE is very much pleased to share the topics and presentations being held in the Forum.

Published in: Economy & Finance, Technology

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
110
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide
  • {}
  • Transcript

    • 1. Overcoming the financial challenges facing Islamic microfinance Dr Ajaz Ahmed Khan, 3rd Global Islamic Microfinance Forum, Dubai, 6th October 2013 Blue Mosque, Istanbul, Turkey
    • 2. Why is Islamic microfinance not more widespread? • Profit sharing involves high transactions costs • Requires high level of transparency - the difficulty associated with calculating profits and losses • Low institutional technical capacity, established policies and procedures and guidance • Authenticity and what is really ‘Shari’ah Compliant’? • Lack of funding Imam Mosque, Isfahan, Iran
    • 3. How can we overcome the lack of funding? • Provide more services than just credit (savings, takaful, money transfer, etc.). • Establish better links with the Islamic finance industry and encourage them to downscale. • Establish better links with Islamic institutional donors. • Establish specialist Islamic microfinance investment funds. Sana’a, Yemen
    • 4. P2P lending: the lendwithcare experience • Raised more than $5 million in capital, and growing exponentially - raising more than $300,000 per month • More than 13,000 individual lenders (95% from the UK) and attracting 500 new lenders each month • 98% of lenders re-lend • Making microfinance affordable for anyone anywhere Badshahi Mosque, Lahore, Pakistan
    • 5. Why not create an Islamic peer to peer lending/donation platform? Would offer several advantages: •Generate new capital •Secure, steady, long-term funding for MFIs – much cheaper than commercial sources and independent of the whims of institutional donors •Outlet for sadaqah and zakat •Making microfinance affordable •Ensuring the focus remains on improving poor peoples lives. Timbuktu, Mali
    • 6. 192 Ahmad Block, New Garden Town, Lahore - Pakistan. Ph: (92-42) 35913096 - 98, Fax: (92-42) 35913056 Email: info@alhudacibe.com www.alhudacibe.com