Tag Archives: Microfinance

Zohra Batool – Punjab’s microfinance wonder woman

Zohra Batool – Punjab’s microfinance wonder woman

LAHORE – For 48-year-old Zohra Batool, a resident of Pakpattan, and mother of seven, possessing skills for creating decoration items and the dream of making it big some day, was certainly not enough. Her life had become extremely stressful and it was difficult to go through the grind everyday, knowing that there was no one else to help her out and that if she stopped work, her family would starve.
With her husband unemployed because of a chronic illness, Zohra was left all alone

Islamic microfinance network set up

LAHORE – An Islamic microfinance network (IMFN) has been established to bring together international Islamic microfinance organisations on one platform. The network (IMFN) will provide appropriate methodologies of Islamic microfinance and Shariah guidelines to help strengthen the industry.
The third working group meeting of IMFN was held at Lahore University of Management Sciences (LUMS). It had been decided that IMFN head office would be established in Lahore, while its

Microfinance falls on hard times

LAHORE: Slow economic growth, double digit inflation, high unemployment rate and the high cost of production is not only hampering the growth of industry but also hitting the microfinance sector hard.
Official figures show that Pakistan’s real GDP growth rate plummeted from six percent in the financial year (FY) 2005 to 2.7 percent (estimated) in FY10, productivity fell sharply and average annual inflation rose from 4.8 percent in FY05 to 14.2 percent in FY10. Economists believe

Al-Huda signs MoU for Islamic microfinance

LAHORE: Al-Huda, centre of Islamic Banking & Economics (CIBE), has signed MoU with Naymet Islamic Microfinance to render its services for Islamic microfinance product development.
This MoU is a step forward to poverty reduction in Pakistan and is also in line with Islamic regulations. According to the agreement, Al-Huda CIBE will operate manuals of Islamic financial products and will also provide accounting and auditing measures, Shariah supervision and help train staff