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October 30, 2020
How Islamic Microfinance Can Support The Growth of Micro-Businesses In Nigeria - Abdulkadir Abdullateef

This edition of the Islamic Finance Weekly anchored by Bukola Akinyele explores how Non-Interest Finance can support the growth and development of Micro-businesses who constitute over 80% of the Micro, Small and Medium Enterprises, MSMEs ecosystem.

 

According to Mr Abdulkadir Abdullateef the Co-Founder of Islamic Knowledge, Cairo, Egypt unlike the conventional microfinance banks, the non-interest environment provided by the Islamic Microfinance banks brings immense opportunities for the micro-businesses in the country.

 

Speaking further he believed that Islamic Micro-Finance can serve as an economic tool for empowerment of women in business, the youth and also promote agric-financing that keys into national productivity.

 

Looking at Islamic microfinance he noted that there are several models that have the non-interest products and components which include Wakala, Zakat, Qard Hassana, Mudaraba and Musharaka.

 

Watch Video Courtesy WebTV NG

 

Related News

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3.   The Principles of Islamic Finance Align with The 17 Goals of The UN - Saeeda Ahmed

4.   Saeeda Ahmed To Speak on SDGs, Women Empowerment and Islamic Economy

 

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