IslamicFinance.de

Islamic microfinance (IM) continues its development into a very popular mechanism for alleviating poverty, especially in developing countries. The expected growth of the Islamic microfinance industry is over $2.0 billion in 2012. Its ethical principles and prohibition of riba cause a continuous growth in this sector. According to the principles of Islam, which lay the basis for IM, investors in IM projects only take part in halal projects, thus benefiting the community to a large extent. An example of such a project is the charity based zakat.