Archives: 2009

Fund «JAIDA» released its annual report on the status of microfinance in Morocco

IMFs in Morocco
After nine months only to start its activities, the Fund occupied the «JAIDA» to finance associations specialized in micro-loans have a prominent place in the microfinance sector in Morocco, where the Fund was the culmination of Morocco's efforts and activities aimed to develop microfinance. Conditions are favorable reception offered contributed to demonstrate the difficulties of financing micro-credit associations, particularly those of medium and small. During this short period, enabling the Fund «JAIDA» to play an intermediary role, and contributed to the promotion of partnership with a number of economic sectors, where loans have enabled micro-credit associations to develop their services and to expand, especially in rural areas, in terms of employment benefit amounts including customers, in productive projects and income-generating.
According to the same report, recorded last year 2008 set a new record in the number of beneficiaries of microcredit, as the number exceeded one million people, while the total size of the record of the appropriations allocated more than 30 billion dirhams, on the grounds that the year 2006 recorded about 15 billion dirhams, and benefited of which 4.5 million people, represents the women's race, 66 per cent.
The amount recorded in September 2007, has reached five billion dirhams, registering an increase of 67 per cent, compared with 2006, or 4DH 7 billion, at a time when the number of active customers more than 400 thousand customers. Betting and micro-credit associations, under the flag of federalism, to transfer the number to 10 million customers, in the year 2010.
It is noteworthy that the Fund «JAIDA» to re-finance micro-credit associations, was submitted to the Foundation ZaKoura, specializing in micro-loans, a loan of 40 million DHs, aimed at promoting microfinance sector, as demand grows and the pace of Moroccans, especially the artisans, the micro-loans in recent years , as has become Morocco in the forefront of the Mediterranean countries active in this area.
According to the National Federation of Microcredit Associations that the proportion of women benefiting from the proposed loans had reached 70 per cent in 2008, and explains the dynamics of this indicator of women in this area, and treat them positive microfinance, while explain the relatively low percentage recorded among men, in a bad use of funds, The research shows that men are more likely to consume what amounts Estelmonh issues may be far from production projects to generate income.

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Climate Change and Microfinance

Grammen Foundation
Grameen Foundation and Oxfam America released a new report which examines the critical role microfinance institutions (MFIs) can play in mitigating the impact of climate change on poor people. Written by Asif Dowla, a noted microfinance expert and professor of economics at St. Mary’s College, the report, Climate Change and Microfinance, points to some of the key poverty-related issues that need to be addressed next week at the United Nations Climate Change Conference in Copenhagen.

Global warming is expected to have the greatest impact on Africa, Asia and Latin America, the regions with the poorest people. For the millions already living on the margins, the shocks—increasingly intense natural disasters, disease outbreaks and falling agricultural productivity—could push them even further into poverty. Noting the active role MFIs already play in these communities, the report highlights challenges facing them, particularly those working in agricultural regions, and provides recommendations for “climate-proofing” their existing services, including offering insurance for the most vulnerable activities.

“Microfinance institutions already provide a vital link to financial security for millions of poor people, making them a valuable intermediary in serving these disadvantaged communities,” said Alex Counts, president of Grameen Foundation. “These institutions’ ability to adapt and adjust to the demands of climate change will, therefore, have a significant impact on their clients and the communities they serve.”

Pointing to the experiences of Grameen Bank in 1998 when two-thirds of Bangladesh was flooded for 13 weeks, MFIs in Central America that faced Hurricane Mitch, and the devastating 2004 tsunami in Southeast Asia, the report offers several core recommendations. To help clients, as well as the institutions, better prepare for and recover from disasters, MFIs should:

Reconfigure loans and savings products and increase availability of health, livestock and other weather-related insurance Introduce and expand the use of renewable energy, such as solar, to relieve energy poverty Develop disaster plans and create disaster funds both at their head and local offices Collaborate with national governments and other civil society organizations to prepare a National Adaption Program of Action.

“Despite the enormity of the problem, the microfinance community has been largely silent about climate change, except for some initiatives focused on green microfinance,” said Asif Dowla, who currently serves as the Hilda C. Landers Endowed Chair in the Liberal Arts Department of Economics at St. Mary’s College. “While these efforts are laudable and should continue, microfinance institutions need to be more proactive in developing long-term plans for natural disasters and other consequences of climate change.”

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Islamic Microfinance

Islamic Microfinance

Islamic banking is one of the fastest growing sectors of the financial industry. But in order for Islamic Financial Institutions (IFIs) to remain competitive with conventional banks, IFIs must be able to deliver specialized products and services to meet customer needs. Microfinance-a division of finance ideologically compatible with Islamic finance, capable of Shariah-compliancy, and possessing a sizeable potential market-is a perfect fit for inclusion in IFIs' new products and services.

Microfinance is comprised mainly of microcredit practices-the extension of very small loans, known as microloans, to those who do not have access to traditional financial services due to lack of collateral, employment and credit history.

Microfinance has a proven history as an economically viable credit program, as well as a proven history of serving customers in the Muslim world. In 1976, Muhammad Yunus, a Muslim Bangladeshi economist and economics professor, founded the Grameen Bank, the world's largest and most successful microfinance institution or MFI. Since its inception, Grameen has provided more than $5 billion in microloans to several million borrowers in the Islamic nation of Bangladesh and boasts a repayment rate as high as 98%. Last year, the institution made a profit of $20 million. Since its creation in 1987, Egypt's National Bank for Development's (NBD) microfinance program has been so successful that the Bank has implemented it in half of its branches. Unlike Grameen, which operates not for profit, Egypt's NBD has proven microfinance to be a profitable venture for private commercial banks in the Middle East.

Microfinance shares the same goals as Islamic finance. Islamic Banking began as an effort for Muslims to engage in financial services consistent with the principles of the Shariah, which promotes social and economic fairness. Likewise, the modern microfinance revolution began as an effort to combat poverty and social injustice in developing countries. Both the principles of Islamic finance and microfinance seek to prevent economic exploitation by prohibiting usury. In 2006, in recognition of the great humanitarian impact of microfinance, the Nobel Committee awarded Muhammad Yunnus and the Grameen Bank the Nobel Peace Prize.

Microfinance is a flexible tool capable of being tailored to satisfy the needs and conditions of various environments, including the Islamic financial sector which forbids riba, or the payment and receipt of interest. The use of interest found in conventional microfinance products and services can easily be avoided by creating microfinance hybrids delivered on the basis of the Islamic contracts of mudaraba, musharaka, and murabaha. For example, in a mudaraba-based transaction, the IFI and the customer may enter into a partnership in which the IFI invests capital in the customer's microenterprise while the customer invests labor. The profits are shared according to a mutually agreed ratio while losses are borne by the IFI. In a musharaka-based transaction, both the customer and the IFI invest capital and share profits according to a mutually agreed ratio; losses are borne in proportion to capital contribution. In a murabaha-based transaction, the IFI purchases a specific good which the customer will purchase from the IFI at a deferred mark-up that may be paid in installments.

Perhaps most alluring to IFIs is the large potential market for Islamic microfinance products and services. There are an estimated 1.3 billion Muslims worldwide, of which over 35% are living in poverty. In the North African and Middle Eastern region alone, there are approximately 4.5 million entrepreneurial poor who lack access to financial services. Of this number, only 112,000, or 2.4 %, of the potential demand are being served. There are only $95 million of outstanding microloans-a fraction of the $1.4 % demand. Egypt, the nation with the most borrowers, barely reaches 5 percent of its potential customer base. Three of the region's countries-Algeria, Iran, and Syria-lack any sort of microfinance program at all.

Islamic microfinance is the perfect opportunity for IFIs to promote the humanitarian principles of Islam, and to make a profit while doing so. Microfinance is a proven success. Shariah-compliant products are feasible. And a huge potential market is waiting to be seized.


Eagle, L. (2009, January 28). Microfinance and Islamic Finance - a Perfect Match. Retrieved December 22, 2009, from­and-­Islamic-­Finance-­-­-­a-­Perfect-­Match&id=1931908

Rural women and microcredit

Rural woman in Morocco

Are women vulnerable group of the population, suffer most from poverty and social exclusion, economic, and women are the victim of a great inequality in utilization of various services (education, health ...) Micro Loans, originally, was addressed primarily to serve women.

Women in rural areas bear the burden of a large part of the tasks and works in agriculture and traditional industry and the White, but that work is unpaid, and studies show that microfinance can contribute to the emancipation of women from economic dependence and play a fundamental role in the autonomy of women, the fact that micro-credit to grant women the self-confidence and helps to strengthen their independence, when women benefit from a small loan Ferencvaros, the project, many aspects of the parallel turn
grow (food, education, health ...) and the project is not only alone.

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Microfinance in Morocco: Zakoura Fondation

Zakoura fondation

Zakoura fondation (microcredit) the second most important microcredit association in Morocco, It was created in 1995 from a Initiave Moroccan. It operates in urban, peri-urban and rural. This through a fifty performances, it employs 400 employees. The foundation lends mainly to the female population disadvantaged on the basis of a progressive social credit.
Zakoura Foundation was used to end in December 2008, 354 172 active clients, of which 67% are women.
Its funding sources are 70% formed grants and local donations. Thus the public funds dedicated to Hassan II economic and social development (funded by revenue from
privatization) is the main provider of funds with an amount of 3.5 million euros. The balance is covered by a great debt Concessional Moroccan banks. Furthermore, Zakoura has
forged productive links with many international funds (UNDP with the Micro Start program, the European Union, the USAID).
Zakoura microcredit is member in many network like FNAM, SANABEL, SAVE THE CHILDREN,and THE MIX MARKET .

Microfinance in Morocco : Problems and challenges

IMF's in Morocco

After significant development in the sector - Microfinance in Morocco - since its inception in the mid-nineties to now, in recent years started to suffer from problems and new challenges such as:

1 - hardness performance: for after the loan recovery rate exceeding 98%, it currently covers 94% only, to see the advances that began Tqtaa known in the sector recently, and is intended to "benefit the beneficiary and one of several loans by various associations," and this phenomenon is due to the concentration of a number of associations active in this area, close to each other resulting in the intersection of customers, in addition to the absence of a common data and data on beneficiaries has increased portfolio, which is in danger Le port feuille à risqué which exceed 30 days from 0.5% in 2004 to 5% in 2008 or approximately 400 million dirhams, and is working to overcome the National Federation of Microcredit Associations "FNAM" to install the center of the risks of micro-credit associations to avoid popularly customers.

2 - Rising interest rates:
the proportion of the prevailing interest rates in Morocco by the micro-credit associations, which between 13% and 15%, which is very high compared with the situation socio - economic for the poor, and the social objective of these associations, as this ratio remains higher than applicable Balobnak (ranging between 8% and 9%), which is primarily aimed at profit, so it should reduce this ratio to be in line with the status of the poor and enable them to benefit from the services provided by micro-credit associations.

3 - uneven geographic distribution: Keep the geographical distribution of agencies, micro-credit associations is characterized by unequal between the urban and rural area, most of the centers are concentrated in urban areas, with the knowledge that rural areas need significantly to this type of financial services, it is currently 1.4 million customers, we find only 400 thousand customers of the world areas.

4 - Sustainability or agent of continuity: the microcredit associations still depend heavily on grants and contributions for capital to finance its activities, by the organs, organizations and donors, and so the challenge posed by the continuity of the activity of these associations and expanded to include other geographical areas, in addition to the reflections current global financial crisis, the sector has been reflected in the integration of the Assembly of Zakoura with the Foundation for the popular Bank of microcredit in recent times under the name of the association "Zakoura popular" microcredit, and thus it places new challenges to the sector.

Poverty in Morocco

Morocco Poverty Map

The identification of the concept of poverty is not easy, arises where a great deal of controversy and disagreement about the appropriate definition of poverty, some researchers poverty is defined according to income or rather due to the lack of income, and other researchers emphasize that poverty should be measured by the inability of the individual to obtain the necessary social requirements, and accepted that poverty, can not be reduced only in the deprivation of financial resources that this concept be expanded to include other forms of human deprivation concept of poverty is defined from the perspective of social exclusion.

Has become a poverty problem in our country today is structurally stable and elusive and multifaceted, is the weakness of job opportunities available in the case of marginalization that are attacking large groups of society, which would be spared to take advantage of infrastructure and social services available to the rare and deprive them from participating in decision-making.
The failures associated with poverty, political, economic and social failure of many development schemes, defined by Morocco since independence, particularly on the program and the accompanying structural adjustment measures, have resulted in cases of austerity, unemployment and inflation and a wage freeze and tax pressure and the decline in purchasing power and extremely difficult to access social services, and an imbalance in the the distribution of income. Which led to the impoverishment of the poor and more wealth and prosperity for the majority of the rich few lucky ones.
In terms of figures about the number of poor people today in our country of 5 million people, according to the results of recent research on the standard of living of households, 4 million Moroccans live below the relative poverty threshold (an annual expenditure of less than 3235 DH in urban areas and 2989 DH in rural areas and so on) live 3 million of the total poor in the villages and one million in cities and about 25% of the Moroccan economic weakness large (annual expenditure is less than 4500 DH).
Thus, poverty is, in depth, a rural phenomenon, and this is confirmed by research and the first map of poverty carried out by the High Planning Commission and the World Bank recently.
On the other hand, poverty affects mainly women and young people and children.

association AL-AMANA for the rehabilitation of small businesses ( AL-AMANA )

AL-Amana was established in February 13, 1997, with support from "USAID" and the "Hassan II Fund" and received a license by the Ministry of Finance March 31, 2000, one of the largest micro-credit institutions in Morocco, where there are 437 agency covering all the national territory, and financial products provided by the AL-AMANA and, in particular, the loan of solidarity and individual loan and private loans to housing provided by the non-financial services such as counseling, guidance and marketing service, through a special program in this regard so-called " Taswik (Marketing)" which was launched in 2008, and interesting help craftsmen to market their products and Secretariat aims to contribute to the social and economic development through the revitalization of small businesses as well as contributing to social integration through the expansion of financial services to the poor include low-income and create income-generating activities.

In terms of funding,AL-AMANA to borrow from banks with preferential interest rates / low (internal funding), as well as its funding depends on the support and help of international institutions and organizations, either governmental or non-governmental Kolokulp-American Development (external funding). AL-AMANA of the Group engaged in the regional networks and international organizations concerned to microfinance and microcredit, including: Arabic Network for Microfinance "SANABEL" Carnegie exchange market information "MIX" and the network of microfinance "MEN" Microfinance Network and other institutions ...
At the national level, the Secretariat is available until late last year (2008), to 490 thousand active customers, my neighbor loans totaling 2.78 billion dirhams, distributed on main sectors as follows:
- Trade: 39.47%
- Agriculture: 29.55%
- Handicraft: 17.14%
- Services: 13.84%

Preview messages and through the monthly AL-AMANA "AMANEWS" shows that the individual loans and loans for housing in a steady rise, compared with loans of solidarity, so check out the Assembly's strategy for the development of these types of loans in response to the growing phenomenon of non-fulfillment of the payment of loans, which became known to the sector in recent In this regard, the number of customers of individual loans end of 2008, 95 thousand beneficiaries, compared to 35 thousand beneficiaries in 2007.

AL-AMANA website , click here

Types of microcredit in Morocco

microcredit in Morocco

Provide microcredit associations in Morocco, two types of services:
financial services and non-financial services, the first one is divided into two main sections, namely:
A - solidarity loan: Also known as the loan group, known as the group solidarity apply the principle of solidarity among themselves, so that in case of failure to perform the due payment by an individual belongs to the same group is imperative for the rest of the group and Iwduha him. The group consists of 3 to 5 individuals - according to all the Assembly - and, in solidarity loan does not request any guarantees, but the only guarantee is the same group, ranging in value of loans granted between 1000 to 30000DHs period of time between 3 and 18 months, and is satisfied premiums loan on a semi-monthly or monthly.

B - individual loan : Go and this type of loan at the beginning of 2006 and the reverse loan solidarity must be having a specific guarantees to benefit from this type of loan and can generally distinguish between the inside two types:
- Individual loan-oriented small businesses :
Is a loan intended for small businesses and micro enterprises for the development of their projects and business plans and small loans range in value between 1000 to 50000 dirhams in the time period between 6 months to 5 years. This type of loan should provide specific guarantees one Calcgel commercial or personal guarantees (such as the monthly wage ...).
In terms of the special conditions that must be provided in the beneficiary: it is to be the holder of entrepreneurship, and to be the capital of the latter than the predecessor.
- The loan for housing:
Started work in recent years is directed to those who wanted to improve the residence, repair, or to link housing connected to drinking water, or electricity, ranging from the value of loans granted between 1000 to 50000 dirhams in the time period between 6 months and 7 years. The request is specific guarantees as collateral furniture for home or personal guarantees or to ensure a relative. These are the various financial services provided by micro-credit associations in Morocco, in addition to the specific safeguards that should be available to take advantage of individual loan, which is in the development in Morocco since its inception in 2006, and to reduce the hardness in the performance of their clients, and the risk of debt recovery as well as financial services, Association provides microcredit, Morocco, non-financial services in parallel to the beneficiaries, such as training programs, guidance and counseling them through the field agents who are tracking the project, in addition to marketing the products of customer service at the regional level or national level, through the establishment of special exhibitions in this regard, we note In this regard, the "TASWIK" of the AL-AMANA, which was launched in 2008, which helps more than 200 customers in the industry of traditional marketing to sell their products, contributing to poverty alleviation.

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Cycle of Poverty

The idea that poverty and deprivation are transmitted from one generation to the next, thus creating a selfperpetuating system or vicious circle. The children of poor parents may receive little parental support and may be forced to attend inadequate schools. As a result, they leave school at the earliest possible opportunity and with few qualifications.

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Video : Microfinance

Microfinance in Morocco

Microfinance au Maroc

Known microfinance sector in Morocco exceptional success, despite his youth, where the sector has flourished, especially after the financial support of the UN Development Program under the "PNUD" MicroStart microfinance, which was founded in February 1998, which has provided financial support amounting to U.S. $ 1,7 million, and USAID (1.6 million U.S. dollars), and in 2000 will the Hassan II Fund for economic development and social sector support financial cover $ 100 million dirhams, this support has enabled the development of associations and the development of number and value of loans granted.

And return the launch of this sector in Morocco to the mid-90, causing many of the NGOs in this field, we recall in particular the Moroccan Association for Solidarity and Development "AMSED" founded in 1993, the association ZaKoura microcredit in 1995, and association Al-Amana for the rehabilitation of small businesses, the Association of Local Development and Partnership in 1997 ... .
And that having a special legal framework microcredit (Law 97-18) (in light of April 1999), and the establishment of a number of institutions to contextualize the work of these organizations like the Council's Advisory micro-credit, and the National Federation of the Assembly of micro-credit "FNAM" contributed to the structuring and framing sector The total number of beneficiaries of micro-credit at the end of last year (2008) 1,250 million beneficiaries (), the total amount of approximately $ 5,8 billion dirhams, while the percentage of recovery of loans of the same year was 94% after 98% of the year 2007 ( ), and Morocco has 13 associations active in this field, 5 of which associations are a great (Al-AMANA, ZAKOURA, Association of Local Development and Partnership "FONDEP", Fondation Banque Populaire microcredit "FBPMC", and "ARDI"), which accounts for 95% of customers Microcredit in Morocco, and women constitute 64% of the total beneficiaries .

By Rachid AJMAL

The role of microcredit in poverty alleviation: Sample Morocco

microcredit in Morocco

Remainder of microcredit as an effective tool for economic and social development, one of the mechanisms working and modern mechanisms to reduce poverty in its various Tmzarath and manifestations. Has proven global experience of microfinance in many countries of the developing world (Bangladesh, Brazil ...) they are important engines of human development and the fight against poverty, and gender empowerment; especially women, the weakest link in society from self-employment and achieve economic Astqlalithn, and their contribution within the their family to provide food, clothing, and ensure the education of children with continuity and thus achieve their integration within the community.

In a study carried out by the Foundation, "Planet Finance" Planet Finance Morocco in 2005 at the request of the National Federation of Microcredit with a view to assessing the effects of micro-credit to beneficiaries, and the study concluded that these loans had a significant impact in improving the conditions of beneficiaries and improve their incomes, the study included a sample of 1287 per capita, the majority of customers recognized the occurrence of positive change on the level of nutrition within the family (62%), the promotion of independence (36%) and calming (57%).
Loans as a new small to fight the phenomenon of poverty depend on the proximity of the poor, especially in rural areas, which is in dire need for this type of financial services, as it relates to the preparation of structures and infrastructure (connectivity of drinking water, electricity, housing, ...) that been deprived for decades, due to Ana and marginalization, which still suffers from it by the public authorities at the expense of the development of urban centers, small loans have done so - if we want to say - re-sort of balance and aims to correct the imbalances and inequalities, that exist between rural areas and urban areas, thereby reducing the phenomenon of rural migration, and rural development and rural areas and contribute to human development in general, through the empowerment of the poor from access to financial services.
By Rachid AJMAL

The impact of microcredit

Rural woman in Africa

Be microcredit impact and a positive impact on the beneficiaries, both in the short term, medium and long term, including:

- Install action : the first is a feature of microcredit, the poor characteristics of the main Sun fluctuating income and minimization, where it is not fixed and unchanging, and this is about the instability of cost-effectiveness of their project or work, by a number of variables long - medium term (economic crisis, for example ... ) or seasonal (such as drought for agricultural activity ...), making them vulnerable to external shocks, but it is through microcredit directed to the poor, will enable them to establish small businesses or small their project development and pre-existing work on the development, which allows secure their incomes are Qar and fixed, and thus achieve food security, health, family and ensure the education of children ....

Micro-loans, on the other hand, contribute to the transfer of low-income beneficiaries, who are employed - usually - in the informal sector (hawkers, for example) to the private structured, and thus enable them to work legally and orderly manner, all as a result of micro-project development and growth.

- Empowerment of women : women are vulnerable group of the population, suffer most from poverty and social exclusion, economic, and health for women are major inequalities in utilization of various services (education, health ...) Micro Loans, originally, was addressed primarily to serve women .

Women in rural areas bear the burden of a large part of the tasks and works in agriculture and traditional industry and the White, but that work is unpaid, and studies show that microfinance can contribute to the emancipation of women from economic dependence and play a fundamental role in the autonomy of women, be microcredit to grant women the self-confidence and helps to strengthen their independence and their contribution within Jmathn When women benefit from a small loan and a member of the project, many aspects of the parallel turn, belong (food, education, health ...) and the project is not only alone.

By Rachid AJMAL

Grameen bank : bank of the poor

Economy is Bangladeshi Muhammad Yunus and the founding father of micro-credit programs, one of the financial innovations that have arisen with the Grameen Bank in Bangladesh, which was founded in 1976 as a project to turn later to the Bank of specialists in the year 1983, the most famous micro-credit programs in the world , where the proportion of women constitute more than 90%, with the rate of recovery of loans amounting to more than 95% , and in this regard, Muhammad Yunus was awarded this status with his Grameen Bank, Nobel Peace Prize in October 13, 2006 by the Swedish Academy in recognition of greeted the visit to the fight against poverty.

Successful experience of Bangladesh in micro-credit programs through the Grameen Bank - means Bank of the village - in the recovery of loans and access to the poor, attracted worldwide attention, has been replicated in more than 60 countries including the United States , and in many countries of the world developing low-income in order to fight poverty and social exclusion and financial discrimination.

By Rachid AJMAL

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The concept of poverty

child poverty in africa

The identification of the concept of poverty is not easy, arises where a great deal of controversy and disagreement about the appropriate definition of poverty, some researchers poverty is defined according to income or rather due to the lack of income, and other researchers emphasize that poverty should be measured by the inability of the individual to obtain the necessary social requirements, and accepted that poverty, can not be reduced only in the deprivation of financial resources that this concept be expanded to include other forms of human deprivation, the concept of poverty is defined from the perspective of social exclusion.

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By Rachid AJMAL

Microfinance blog - Custom comment codes for MySpace, Hi5, Friendster and more
Microfinance Blog

We are very pleased to open the first Arab blog specializing in microfinance " Microfinance : Alleviate Poverty " , , which we aim to introduce the concept of microcredit and microfinance and their advantages, as well as By Morocco's experience in microfinance sector and associations working in this field to the latter, as we will try to identify the micro-credit in line with the Islamic law.
Therefore please join us in the mailing list at the top to follow-up What's New in this topic.


Rachid AJMAL
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The concept of Microfinance

Microfinance is new way to alleviate poverty

Micro credits (Micro-loans) are generally one of the financial innovations that have arisen with the Grameen Bank in Bangladesh, microfinance is to expand the scope of very small loans, and aims to stimulate entrepreneurship among those who suffer from poverty to self-employment and develop their small businesses, to alleviate poverty and improve their status and social and thus improve the status of their families and their children in terms of standard of living on the one hand, and level of access to social services (such as health, education, ...) on the other.

By Rachid AJMAL

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