Global Islamic microfinance surpasses US$60bn, says industry professional
DUBAI, UAE - The global Islamic microfinance industry has surpassed US$60 billion in value within the $3.8 trillion Islamic finance landscape. This achievement highlights the growing recognition of Islamic microfinance as a tool for poverty alleviation. The industry's potential to bridge financial gaps while adhering to Shariah principles positions it...
Aggrieved workers drop lawsuit against Bangladeshi Nobel laureate
More than 100 lawsuits had been filed against GT by workers, along with three contempt-of-court charges against Yunus and another manager.
SAMA starts consumer microfinance licenses in kingdom
The Saudi Central Bank, or SAMA, has launched licenses for consumer microfinance operations in the Kingdom. This follows the bank’s announcement of the third license for a consumer microfinance company in the Kingdom, Sulfah. Microfinance targets individuals and small businesses, including self-employed people, who may otherwise lack access to banking...
Arabian Centers to set up $14.65m microfinance company
FAS Labs Limited Co., a unit owned by Saudi retail firm Arabian Centers, will set up a digital consumer microfinance company. It will be called FAS Finance and will have a capital base of $14.65 million.
Emkan named fastest-growing digital microfinance firm in Saudi Arabia
The company will add Instalment Finance, Auto Finance, SMEs Finance, credit card issuance to its offerings