1. International Conference on
Islamic Microfinance
Organized By :
CENTER OF ISLAMIC BANKING & ECNOMICS
Held At:

2. Challenges in Islamic Microfinance
By: Mrs. Farida Tariq, CEO CWCD, Chairperson IMFN

3. Financial Literacy
 Awareness about the modes of Islamic Finance in
 General Public
 Government Departments
 Courts of Law

4. Source of Funds
 Availability of Shariah Compliant Sources of Funds.
 Hesitation in adapting to Shariah Compliant
Contracts
 Fear of entering into Partnership (Musharaka,
Mudaraba) agreements with Microfinance Institutions
 Rate of Returns cannot be fixed therefore the fear of
return on investments remains

5. Legal structure of Pakistan
 Hindrance in implementation of Islamic Finance
Products in essence
 Company’s Ordinance Section 42 refrains an institution to
enter into trading whereas the true essence of Islamic
Financial Products is Trading

6. Standardization of Islamic Financial
Products
 Implementation of a product must be standardized in
all practicing organizations for better
understandability and faith of the borrowers
 Minimum standards for practicing Islamic
Microfinance must be set

7. Shariah Audits/Appraisals of Products and
Procedures
 Firms should exist which would certify the products
and procedures of Islamic Microfinance Institutions
to be Shariah Compliant which would be recognized
by all national and international organizations.

8. Thank You
CENTER OF ISLAMIC BANKING & ECNOMICS
Head Office:
192- Ahmad Block, New Garden Town , Lahore, Pakistan
Ph: +92-42-35913096-8, 35858990, 38407850
Fax: +92 -42-35913056
E-mail : info@alhudacibe.com
Web: http://www.alhudacibe.com