Active client base of Islamic microfinance has exceeded two million
The demand of Islamic microfinance is rapidly increasing in order to serve poverty alleviation and social development. Its active client size has exceeded two million now from which more than 700,000 belong to Sudan and more than 400,000 clients of Islamic Microfinance Institutions are from Pakistan. Yemen, Indonesia, and Bangladesh also have a good number of clientage and Islamic microfinance has satisfactory demand in Morocco, Senegal, Nigeria, and Tunisia. However, there are lots of challenges faced by Islamic microfinance i.e. squeezed volume of organisations, lack of technical expertise and quality HR, lack of standardisation of the products, and especially the lack of funds for Islamic microfinance institutions.
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