IslamicFinance.de

Islamic Microfinance (IMF) is a novel method for human-oriented economic development and a capacity-building tool, which easily fits into the Islamic banking and finance (IBF) paradigm through social responsibility. A financial system should be able to provide financing to different segments of a given society such that, in addition to financial and economic objectives, social objectives may be served. It is imperative for IBF to fulfill such objectives alongside their business interests. Due to the complementarity between IBF and microfinance, there is a need to see further and proactive involvement of IBF and nonbanking Islamic institutions to provide IMF.