M khaleequzzaman third conference al_huda_mainstreaming islamic microfinance_an inclusive approach (1)

Mainstreaming Islamic Microfinance – An Inclusive Approach Muhammad Khaleequzzaman Head Islamic Banking School of Islamic Banking & Finance International Islamic University Islamabad Pakistan

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach

[object Object],[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach Negative Social Capital ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Social Capital Reinforcement -Deceit and Coercion -Mistrust -Idleness - Selection Bias - Inefficiency -Willful Default Negative Social Capital

[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach A recently conducted survey in Azad Kashmir exhibits 99% demand (4 Districts) 49% Indonesia (East Java) Bank Indonesia 2000 43-46% Syria IFC 2007 40% Yemen IFC sponsored Study 20.7% Algeria Frankfurt School of Fin & Mgmt 06 32% Jordan IFC/FINCA 06 24.9% Jordan USAID 02 35% - 60 % West Bank and Gaza PlaNet Finance 07 20 - 40% Jordan, Algeria, and Syria CGAP 08 Respondents preference (%) Surveyed Countries Survey

[object Object],[object Object],[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach Sharia Advisory & Technology Transfer Islamic Bank MF NGO MF NGO MF NGO Clients Clients Clients Clients Clients Clients Clients Clients Clients Savings Financing

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach

[object Object],[object Object],[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach 11. Payment of Exercise Price 5. IFI takes assets as agent of SPV Originator (IFI) (Ijara Assets) Special Purpose Vehicle (SPV) Investors/IBs 6. IFI (as agent of SPV) leases assets to clients 1. SPV is created 9. Rent 2. SPV issues sukuk 3. Price 10. Redemption of sukuk Vendor 4. Payment Clients 7. Rent 8. Rent

[object Object],[object Object],[object Object],[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach Working capital Capital investment Development of entrepreneurship Basic need fulfillment Islamic finance (Murabaha) Zakat and Sadaqaat Transformation of hard core poor

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach

[object Object],[object Object],[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach Some Innovations: Murabaha & Salam – Agricultural Financing Liquidity Hiring for land prep. Inputs in kind Sale of fertilizers, seed, pesticides Liquidity Need Hiring for Harvest + Marketing Exp. S A L A M S A L A M M U R A B Liquidity Need Hiring for land prep. Inputs in kind Delivery Payment Delivery N O V A P R N O V J U N

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach

[object Object],Mainstreaming Islamic Microfinance – An Inclusive Approach

M khaleequzzaman third conference al_huda_mainstreaming islamic microfinance_an inclusive approach (1)

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M khaleequzzaman third conference al_huda_mainstreaming islamic microfinance_an inclusive approach (1)