IslamicFinance.de

Islamic Banking and Finance has been nearly confined to the rich people and as per the ideology of capitalism, the profit urge has captured the Islamic Financial Industry and discriminated the underprivileged people and letting them deprived from Islamic financial services. The commercialism has captured Islamic Finance institutions in such a way that business with and financing to the poor has gone astray from their agenda. The share of Islamic Microfinance is less than 1% from the overall volume of $ 1.3 trillion of Islamic Finance Industry. Islamic Microfinance can be energized by utilizing available charity amount of Islamic Banking and Finance industry to reduce poverty and fuel social development. Islamic Financial Institutions have to execute and promote Islamic Microfinance otherwise there is a definite chance of rumors that Islamic Banking and Finance services are only for rich people.