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First Global launches pioneering micro-finance programme

Posted on 12 March 2009

From Dailymirror.lk: First Global Investments Holdings (FGIH) recently launched its Islamic Micro-Finance programme which was targeted at alleviating poverty in the suburbs of Colombo. There were a total of 24 beneficiaries selected from destitute communities in Maradana, Slave Island, Kirulapone and Dehiwala.

This pioneering micro-finance programme is based on the principle of Murabaha or cost plus mark-up where the beneficiaries are supplied commodities by FGIH at cost plus a nominal mark-up which they would have to repay in monthly installments….. Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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