Islamic Relief is improving access to ethical Islamic micro-finance schemes in Bangladesh, by developing skills and capacity in the country’s financial institutions.
Together with the Central Shariah Board for Islamic Banks of Bangladesh (CSBIB) – which represents Islamic banks and banking institutions – we are working to boost the availability of Islamic micro-finance in a country in which 26 million people live below the poverty line.
A comprehensive training course on Islamic micro-finance, facilitated by renowned Islamic bankers and finance experts as well as Shariah scholars, was held in Dhaka, Bangladesh earlier this month (February).
Delegates included 39 participants from micro-finance institutions, NGOs, and Islamic banks. The interactive training covered thirteen topics, including Islamic economics, prohibited and permissible tools in Islamic finance, as well as accounting and auditing tools. Risk management and Islamic insurance were also key themes in the course, which also highlighted philanthropic financing and its applications.
It is hoped that the training helps to build an environment in Bangladesh where more poor people – who are typically excluded from conventional financial services –have access to a sustainable route out of poverty.
“The training, which focusses on a credit-plus integrated poverty alleviation scheme, adds much-needed momentum in lifting poor people out of poverty. It will help smooth the implementation of Islamic micro-finance operations in Bangladesh.”
Shabel Firuz, Country Director of Islamic Relief Bangladesh
Islamic Relief has been providing Islamic micro-finance for over 15 years, and currently operates programmes in over a dozen countries.