Islamic Micro Finance
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Title: Islamic Micro Finance

Essay Details:

Subject: Business
Author: Alvin A
Date: June 20, 2015
Level: University
Grade: B
Length: 2 / 495

Essay text:

Similarly both the systems advocate financial inclusion, entrepreneurship and risk-sharing through partnership finance. 3. Moreover, both have their focus on developmental and social goals to be accomplished in the society. Criteria for Islamic Microfinance: The following criteria would be followed for persons/entities applying for Islamic Micro-finance bank: i) All financial transactions of Islamic MFB will be in accordance with the injunctions of SHARIAH. ii) Every Islamic MFB will be required to appoint a Shariah Advisor who should meet the “Fit and Proper Criteria” for Shariah Advisors, issued vide IBD Circular 3 of 2004...

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