The provision of microfinance is a high-cost operation because of its target clients. They are in need, not only of financing, but of education, training, and direct guidance for preparing their first investment plans/steps, health care, child care, psychological re-habilitation and immediate provision of essential consumer goods. Despite the often-quoted experience of microfinance with the Grameen Bank, whose main sources of funds are grants and whose rate of interest charged to the poor reaches up to 56%, very little is usually mentioned about intuitive spontaneous multi-dimensional experiences of local charities in the Muslim communities, especially in rural area and in old inner Muslim cities. The objective of this paper is to propose an institutional structure for microfinance that simultaneously deals with the several facets of poverty and depends on combining the waqf and the zakat principles together. It does not quarrel with the basic premise of microfinance: that enabling the
Year
2007
Country
Bangladesh
Language
English
Abstract
English
Select type of work
Conference
CIS Program Old
CIS publications
No
CIS Thesis
No