[MFP] CGAP Newsflash: 2nd Islamic Microfinance Challenge

 

 

CGAP Newsflash: 2nd Islamic Microfinance Challenge The number of Sharia-compliant microfinance providers has nearly doubled in recent years. Even though their reach is expanding, it is still relatively small at  just over 1 million of the estimated 650 million Muslims living on less than $2 a day. The Islamic Microfinance Challenge, a global contest that invites applications from providers of Sharia-compliant microfinance products, is seeking innovative approaches to reaching unbanked Muslims. The Challenge is organized by CGAP, the Islamic Development Bank, Al Baraka Banking Group, and Triple Jump, and aims to help scale up the application of Sharia-compliant products by financial institutions already serving large numbers of poor. The German development agency GIZ is sponsoring a $100,000 grant award and video documentation to the winner of the Challenge. Applications will be reviewed by a panel of judges representing Challenge sponsors as well as other microfinance experts. Read more and submit applications at www.cgap.org/islamicmicrofinancechallenge CGAP     You have been sent this email because you are on the CGAP emailing list. If you prefer not to receive further emails, please email us at CGAP@WorldBank.org

 

 

 

 

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