Dec 04, 2016

Islamic microfinance: A solution to expand financial inclusion?
13th December, Brussels

The global Muslim population counts about 1.2 billion people but over 70% of them do not use formal financial services. Only 0.5% of global microfinance institutions propose the services and products responding to Islamic financing principles (CGAP survey, 2008). Islamic financing is unique and essentially different from conventional microfinance. The sector seeks to provide an economic empowerment tool for poor or disadvantaged people based on Islamic financing methods that avoid interest, but focus on profit and loss sharing.

Mohammed Kroessin, Head of Global Islamic Microfinance Unit, Islamic Relief Worldwide UK, and Fadoua Boudiba, Senior Investment Officer for MENA and Africa, Triodos, Netherlands will discuss about the development and the contribution of the Islamic microfinance to the financial inclusion. The speakers will explain the main principles of the Islamic microfinance, as well as challenges it copes with today and the opportunities of its expansion. They'll also explain how the sector adapt the social performances standards, woman empowerment and rural development.

David Demulier will moderate the discussion.

For more information click here

The event, co-organized with ADA, will take place also in Luxemburg on December 14, 2016. For more information click here

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