Islamic finance: What it is and where it is available to SMEs

Policymakers and bankers worldwide are increasingly focussing on micro-, small and medium-sized enterprises. Within the Islamic sector, the Islamic Development Bank (IDB) is making important efforts to nurture the microenterprise and SME sector and its export activities. These efforts expand knowledge through the promotion of seminars, training and expert missions with the goal of building capacity in the sector. They also finance guarantees and export insurance. IDB has three important subsidiaries serving the sector: the International Islamic Trade Finance Corporation (ITFC), Islamic Corporation for the Development of the Private Sector (ICD) and the Islamic Corporation for Insurance of Investments and Export Credit (ICIEC). Each of the IDB subsidiaries has programmes that operate throughout IDB member States.

Sustainable Development Goals:

Industry, Innovation and Infrastructure