The Centre organised a training course on ‘Islamic Microfinance’ at the Somali Bank for Reconstruction and Development (SBRD) in Somalia on 09-11 November 2014. The Training Course was provided by Mr. Abdul Samad, Member of Shairah Compliance Department in AlHuda Centre of Islamic Banking & Economics, Pakistan.

The 3 days training course on ‘Islamic Microfinance’ mainly covered the following subjects:

• Glance on Islamic Finance
• Riba and Prohibition of Riba
• Economic Rationale for Prohibition of Riba
• Difference between Islamic Finance & Conventional Finance Mechanism
• Development of Islamic Finance in Somalia
• Shari'ah Foundation and Applications of Islamic Microfinance
• Conceptual Framework of Islamic Microfinance
• Islamic Microfinance – Characteristics
• Sustainability, Outreach and Problems Pertaining to Microfinance System
• Microfinance & its Product Mechanism
• Islamic Micro Finance as effective tool of poverty alleviation
• Islamic Micro Financial Products Mechanisms & Compatibility with Conventional Microfinance Products
• Trade Based Modes of Islamic Microfinance (Murabaha, Salam, Istisna etc.)
• Mechanism of Trade Based Product (Murabaha, Salam & Istisna)
• Partnership Based of Islamic Microfinance (Mudarabah & Musharakah)
• Rental Based Mechanism/Products of Islamic Microfinance (Ijarah & Diminishing
• Musharakah)
• Application of Partnership & Rental Based Modes in Islamic Microfinance
• Different Models & Deposit Management in Islamic Microfinance
• Definitions, Concept & Uses of Waqf, Qarz-e-Hassan, Cooperatives & Zakat in Islamic Microfinance System
• Liability (Deposit) Management Techniques for Islamic Microfinance
• Product Development for Islamic Microfinance Institutions
• Development of Islamic Microfinance in Jordan - A Case Study
• Micro Takaful (Islamic Micro Insurance) & Risk Mitigation
• Opportunities and Challenges of Micro Takaful in Islamic Microfinance

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