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Prospects and challenges of Islamic microfinance

Posted on 30 August 2012

The Islamic non-governmental organisations (NGOs), cooperatives and microfinance institutions (MFI) have been encountering the challenges numerous challenges from the very beginning. Funding Islamic microfinance programme (IMP) is the major challenge. In order to cover the poor living below the poverty line, a huge fund is required. Due to the lack of fund, many Islamic NGOs, MFIs and cooperatives have failed to reach the poorest of the poor.
Having a misconception about Islamic views towards modernisation and empowerment of women, donors and developing agencies very often show little or no interest in funding Islamic NGOs-MFIs. Consequently, Islamic microfinance (IM) is yet to expand its country-wide outreach effectively………………………………………..Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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