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Islamic Microfinance is a good alternative for the alleviation of poverty

Posted on 18 October 2012

Chief Executive officer of AlHuda Centre of Islamic Banking and Economics, Mr. Zubair Mughal said that poverty is not only the problem of Pakistan but a global issue. In fact, the declaration of Millennium Development Goals (MDGs) by United Nations to cut down the poverty to half till 2015 seems unachievable because the poverty is continuously increasing.
He said that one of the major reasons of no reduction in poverty is to follow wrong strategies. He further said that it is an alarming situation that poverty is continuously increasing in Muslim World and 46% of world’s poverty exists in Muslim countries and almost one-half of the 56 IDB member countries in Asia and Africa are classed as Least Developed Countries (LDCs) by United Nations………………………………………..Full Article: Source

 
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