7/28/2019 Indonesias BMT Microfinance system should be
introduced Globally
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CENTRE OF ISLAMIC BANKING& ECONOMICS
Head Office: 192- Ahmad Block, Ph: +92-42-35913096-8 E-mail:
[email protected] Garden Town Lahore, Pakistan. Fax: +92
-42-35913056 Website: www.alhudacibe.com
During his address Mr. Muhammad Zubair Mughal Said that, Islamic
financial industry of Indonesia with
having 11 complete Islamic Banks, 24 Islamic windows, 43 Takaful
Institutions, 16 Islamic Finance
companies and more than 5,500 BMTs holds a remarkable position
in the world. He said, BMTs in the
world. He said, BMTs in Indonesia has played an important role
for the alleviation of poverty from
country by adapting methods of Islamic Microfinance system,
which is a clear example of success of this
system But unfortunately, BMTs methods are being limited to
Indonesia only, but it is the need of the
time that this system should be introduced in other countries of
world along with Indonesia which will
help in introducing Islamic Microfinance system in other
countries of world and new Islamic
Microfinance methods of BMT will be available along with
Murabaha, Salam, Mudarabah, Qarz-e-Hasna
and Waqf to Islamic Microfinance Institutes.
He further added that, to involve poor in financial inclusion
Islamic Microfinance is very important along
with branchless banking, Product innovation and financial
literacy etcBecause in Muslim communities major reason of poverty
is to avoid interest based Microfinance and in
order to bring Muslims in financial inclusion then such a
Islamic Microfinance system need to be
introduced which will be according to the Muslims religious and
economic principles otherwise poverty
will increase due to financial excluding of Muslims, which can
be estimated from present facts and
figures that half of worlds poverty lies in Muslim
countries.
He further added, to gather Islamic Microfinance institutions
and professional of the world on single
plate form, the Global Islamic Microfinance Forum is going to be
held on October 16, 2013 in Dubai, to
compile the strategy to strengthen Islamic Microfinance
industry#
