This is a guest post by Suzan Bekiroglu. After reports of over two hundred suicides by debt-ridden and impoverished residents of Andhra Pradesh, India became public, scrutiny was turned towards microfinancing. Microfinancing has evolved into a for-profit multibillion-dollar global industry, but many questions remain such as if it truly helps life people out of poverty [...]
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Many in the developed world aren’t very familiar with micro-financing. One of the only parallels would be something like cash advances, but they work a little differently. There’s a lot of debate on whether or not micro-financing is positive or just predatory. Either way, it has shown to be a powerful tool in helping developing [...]
Youth savings accounts, also known as child savings accounts have been gaining popularity as industry professionals begin to realize the benefits of offering financial services to youngsters. Youngsters across the world regularly save money, which encourages financial discipline; however, there is a safety risk associated with storing money at home. Benefits of Youth Savings When [...]
Mobile banking interoperability is a far-reaching vision that promises to improve financial inclusion by leaps and bounds. Clients cannot transfer funds between money wallets associated with different telecom companies, which reduces liquidity in the financial system. Despite this, mobile banking providers are reluctant to collaborate with competitors fearing a decline in market share. A recent [...]
Address by Iftikhar Malik, chief guest at First Islamic Microfinance Conference in Pakistan, 2011 I have known Mr. Farhat Abbas Shah for his poetry and anchor ship, but quite recently, another aspect of his personality has surprised me. He has come up with a novel idea for an economic rehabilitation of the ultra poor through [...]
Microfinance may not be a panacea for poverty, but there is definitely a panacea for microfinance. Elizabeth Rhyne, Managing Director of the Center for Financial Inclusion, recently disclosed three secrets for the success of microfinance institutions, through a blog post that appeared on the Huffington Post. These ‘secrets’ were adopted as best practices back in [...]
Opening remarks by Farz Foundation CEO at the First Islamic Microfinance Conference in Pakistan, 2011. Ladies and gentlemen, This is the humble saga of the Farz Foundation until now and here I stand before you along with my wonderful team without which I could not have achieved whatever I have achieved so far. During the [...]
Press Release submitted by Farhat Abbas Shah. Lahore: The first National Islamic Microfinance conference of Pakistan was held in the Lahore Chamber of Commerce and Industry. The notables who attended included Iftikahr Malik, Vice President SARRC Chamber of Commerce and Industry, Tahir Malik, Chairman Trafco Group of Companies, Mr. Zulfiqar Khokhar, Additional Director Islamic Banking [...]
A New Horizon of Poverty Alleviation Lahore, Pakistan: Farz Foundation is the First Shariah Certified Islamic Microfinance Organization of Pakistan, which began its operations as a registered entity on September 9, 2009. It has so far facilitated 128 families with Murabah asset based model. It has introduced the Farz Methodology which aims to alleviate poverty [...]
