by Alex Pattee -

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 Tameer, CWCD of Pakistan

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/

by Medha Ravi -

MICROCAPITAL BRIEF: Islamic Insurance Provider Tokio Marine Middle East Eyes Expansion in Egypt, Sees Political Shake-Up as Opportunity for Microinsurance

Ajmal Bhatty, chief executive of Tokio Marine Middle East, a “takaful” (Islamic insurance) provider based in Dubai, reportedly has stated that the recent political turmoil in Egypt will create a greater need for financial protection in the country and will hence provide Tokio Marine an opportunity to further extend its takaful services to the Egyptian market.

by John Howard-Smith -

MICROCAPITAL BRIEF: Farz Foundation Hosts First National Islamic Microfinance Conference in Lahore, Pakistan, Promotes Farz Methodology

The Farz Foundation, an Islamic microfinance institution (MFI) based in Pakistan, recently hosted the first National Islamic Microfinance Conference in Lahore, Pakistan, in an effort to develop solutions for the microfinance industry in Pakistan.

by Matthew Fox -

MICROCAPITAL BRIEF: Pakistani Microfinance Institution (MFI) Farz Foundation Awarded Shari’ah Compliance Certificate

Pakistani microfinance institution (MFI), Farz Foundation, has been awarded a Shari’ah compliance certificate by Mr Mufti Iftikhar Baig, Advisor at Albarka Islamic Bank, and Mr Mufti Mahmood, Head of Online Fatawa Program, Jamia Ashrafia Pakistan.

by Jennifer Shevock -

MICROCAPITAL EVENT: Sixth International MicroInsurance Conference, Manila, Philippines, November 9-11, 2010

Event Name: Sixth International Microinsurance Conference
Event Date: November 9-11, 2010
Event Location: Hotel Intercontinental, Manila, Philippines
See Our Comprehensive Event Calendar Here:
http://microfinanceassociation.ning.com/events

by Stefanie Rubin -

MICROCAPITAL BRIEF: UnityKapital Assurance Plc of Nigeria Announces Information Technology Development, Expansion into Microinsurance

UnityKapital Assurance Plc, a Nigerian insurance company with a recorded NGN 518 million (USD 3.47 million) profit after tax in 2008, has announced the deployment of a comprehensive information technology (IT) system and an expansion into newer areas of insurance, including Islamic insurance and microinsurance.

by Chinq Yee Chong -

MICROCAPITAL.ORG STORY: Exclusive Interview On The Current State Of Microfinance In Malaysia And Challenges Facing The Sector: Observations From The Assistant Governor Of Bank Negara Malaysia

In a recent Microcapital.Org exclusive written interview with the Malaysian central bank, Bank Negara Malaysia [1], the Assistant Governor Mr Muhammad bin Ibrahim provided the following responses to a series of questions about the current state of microfinance in Malaysia and challenges facing the sector. Previous Microcapital.Org stories on microfinance in Malaysia have been set out in the Bibliography section below [2] – [5].

by Jeffrey Erfe -

MICROCAPITAL PAPER WRAP-UP: Islamic Microfinance: An Emerging Market Niche, by Nimrah Karim, Michael Tarazi and Xavier Reille

Written by Nimrah Karim, Michael Tarazi and Xavier Reille and based primarily on secondary research by the Consultative Group to Assist the Poor (CGAP), released in August 2008 as Number 49 of Focus Note, a publication of CGAP, 16 pages, available on October 27, 2008 at: http://www2.cgap.org/gm/document-1.9.5029/FocusNote_49.pdf.

by Anthony Busch -

MICROFINANCE EVENT: Al Huda to Conduct Training Workshop in Islamabad on Islamic Microfinance

TRAINING WORKSHOP ON ISLAMIC MICROFINANCE

MARCH 7-8, 2008, STATE BANK OF PAKISTAN, ISLAMABAD, PAKISTAN

The Al Huda Center of Islamic Banking and Economics (Al Huda CIBE), an institute based in Lahore and comprised of Pakistani academics and practitioners in the field of Islamic finance, will hold a two-day workshop introducing the basics of Islamic microfinance and small and medium enterprises (SMEs), as well as presenting updated practices in the field. Convening at the State Bank of Pakistan (SBP) in Islamabad, the seminar will cover issues specific to Islam, such as the role of the takaful in microfinance—a form of mutual insurance entailing the pooling of a group’s monies into one common fund which is managed according to shariah law—as well as the interest-free loaning mechanism known as musharaka which is the joint participation of the investor and borrower in the profit and loss of an investment rather than a conventional loan with a risk-determined interest rate. The workshop will also delve into the SBP’s plans for the future development of Islamic finance in Pakistan as well as outreach and development associated with Islamic SMEs and microfinance. The SBP issued new guidelines for Islamic microfinance services within Pakistan in late 2007, as reported by MicroCapital.