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An Application of Islamic Banking Principles Micro Finance

An Application of Islamic Banking Principles Micro Finance

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Published by: greatbilal on Dec 01, 2009
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07/13/2012

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An Application of Islamic Banking Principlesto Microfinance
Technical Note
Rahul Dhumale and Amela Sapcanin 
A study by the Regional Bureau for Arab States,United Nations Development Programme,in cooperation with the Middle East and North Africa Region,World Bank
 
The authors are grateful to the United Nations Development Programmes Regional Bureau for ArabStates for funding this study. They also thank Ahmed Abou El Yazeid, Judith Brandsma, Nemat Shafik (World Bank), Abbas Mirakhor (International Monetary Fund), Rohil Hafeez, Bassel Hamwi(International Finance Corporation), and William Tucker for invaluable comments and insightson previous drafts. This report was edited by Paul Holtz and laid out by Wendy Guyette, and thecover was designed by Laurel Morais, all with Communications Development Incorporated.The findings and recommendations expressed in this report are entirely those of the authors and should not be attributed in any manner to the United Nations Development Programme or the World  Bank.
 
iii
Contents
A nexus between Islamic banking and microfinance?1Islamic banking—promoting equity with a range of tools2
Different interpretations2Different instruments3
Microfinance—providing credit to the entrepreneurial poor6Combining Islamic banking with microfinance8
A mudaraba model8A murabaha model10Experience with mudaraba and murabaha in microfinance11
Conclusion13References14

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