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Pakistan: Islamic mode of financing suggested for SMEs

Posted on 21 December 2009

From Nation.com.pk: The Union of Small and Medium Enterprises has recommended the Islamic mode of financing as the best option for the SMEs during the present period of reduced financing by commercial banks.
Hub Operations Manager Bank Islami Pakistan Ltd (BIPL) Kazi Shafiquddin explained the benefits of Islamic mode of financing to the members of Unisame and emphasised the fact that in the present scenario Islamic mode of financing is the most suitable where the financing is based on partnerships under Mushariqa and Mudaraba and the burden is not felt by the borrowing partner as it is based on the profitability of the venture…………………………………Full Article: Source

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