Академический Документы
Профессиональный Документы
Культура Документы
Baku, Azerbaijan
16th 17th September 2008
Introduction
- Short History of Islamic Banking..3
- Classical Islamic Banking3
- Modern Islamic Banking..3
- Emerging Islamic Capital Markets.4
Islamic Microfinancing
Islamic Alternatives to Microfinancing
Different alternatives:
- Islamic MFIs
- Islamic Banks
- Specialized Institutions
Group based microfinancing can be used
Islamic MFIs Features (1)
Islamic MFI retains the basic operational format of MFIs
- Going to the clients
- Weekly/Monthly Repayments
- A social/development program (to fulfil the social role of Islamic finance)
Islamic Microfinancing
Islamic Microfinancing
Islamic MFIs-Features (2)
- Amount transferred to the poorest
As Islamic modes are sale based the price of the asset is paid (no
deductions are allowed)
- Group Dynamics
Islamic values of brother/sister-hood improves cooperation among the
group members
- Financing the poorest
Zakat and other charities can supplement MFI activities (non-diversion
of funds)
Islamic Microfinancing
Islamic MFIs-Features (3)
- Social Development Program
behavioral, ethical, and social aspects in light of Islamic teachings
- Targeting the family through women
Spouse co-signs the contract
Dealing with women more efficient and convenient
Women disseminate knowledge to children
- Dealing with Arrears/Default
Less aggressive and use Islamic teachings to recover loans
Disbursement
Supplier
Guarantee
TuranBank
Collateral / security
Agency fee
ICD Escrow
Account
Guarantee commission
Client
Repayment
Disbursement Procedure
ICD
Letter of acceptance
1. Project Proposal
2. Disbursement request
3. Undated receipt
4. Letter of Guarantee
TuranBank
Operational Account
1. Identification
2. Appraisal
3. Structuring the deal
4. Collateral package
Client / Sub-Project
5. Fix murk-up
6. Prepare documentation
Supplier
Collection Procedure
ICD
Notification
FITuranBank
Escrow Account
Repayment to Escrow
account
Client / Sub-Project