Proceedings from The First National Islamic Microfinance Conference Pakistan 2011
This paper reports on a conference organized by Farz Foundation, an Islamic microfinance organization in Pakistan.
The paper states that Islamic microfinance addresses limitations posed by interest-based lending and helps the poor using Sharia compliant methods. It also highlights the possibility of achieving macroeconomic stability by providing training and productive assets to the poor. The conference:
Aimed to offer concrete solutions to Pakistans economic crisis and problems of poverty;
Presented an opportunity for participants to learn how Farz methodology and other Islamic models can help reduce poverty;
Disseminated learning on how Islamic banking and finance survived difficult times and the future roles they can play;
Aimed to provide participants with an opportunity to learn and share experiences on developing microenterprises through Islamic microfinance;
Provided an opportunity for practitioners from various Islamic microfinance organizations to share their knowledge and experiences.
In addition to increasing awareness, the conference also aimed to emphasize microenterprise development and bridge the gap between the private sector, Islamic banking and Islamic microfinance.