Monday, March 28, 2011

CGAP - Micro finance blog (series on Islamic microfinance) and award for Bina Insan Sjahtera Mandiri (BISMA)

The CGAP Microfinance Blog, which is operated by US-based think tank CGAP (Consultative Group to Assist the Poor) is featuring a series on Islamic microfinance that profiles the winner and finalists of the Islamic Microfinance Challenge and others in an effort to engage with the broader microfinance and Islamic finance communities to find new ways to support the Islamic microfinance sector. The Islamic Microfinance Series can be found at http://microfinance.cgap.org/category/blog-series/islamic-microfinance-series/ (full story)


CGAP has announced the winner and finalists of the Islamic Microfinance Challenge 2010, a contest sponsored by CGAP to encourage the development of viable business models for providing microfinance products that are compatible with Islamic law (Shariah). The challenge received 130 applications from 43 countries. The winner is Al Amal Microfinance Bank, Yemeni MFI that claims to the first in the Arab world to offer only Shariah-complaint products, as was announced by MicroCapital on February 18, 2011. Also short-listed were Tameer Microfinance Bank of Pakistan; Tanzania ecoVolunteerism, a Tanzanian non-governmental organization (NGO); Bina Insan Sejahtera Mandiri (BISMA), a social enterprise in Indonesia; and Center for Women’s Cooperative Development (CWCD), an NGO in Pakistan.

Source : http://www.microcapital.org/microcapital-brief-cgap-launches-islamic-microfinance-blog-series-featuring-finalists-of-global-islamic-microfinance-challenge-2010-al-amal-of-yemen-tanzania-ecovolunteerism-bisma-of-indonesia-and/ - March 27, 2011

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