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Islamic microfinance - best tool for poverty eradication

Posted on 10 May 2010

From Arabnews.com: Islamic microfinance is a nascent industry. It has spurred very few studies and fewer experiments so far. However, it has demonstrated huge potential both in terms of fighting poverty and drawing more clients mainly in developing countries.
The interest-free Islamic microfinance can be defined as provision of financial services to those people who are denied access to the financial market. It empowers people who can carry out projects with their own resources but lack adequate funds. Besides, it provides financial services to those, who are traditionally non bankable, mainly because they lack guarantees against risk……………………………………….Full Article: Source

 
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