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Islamic Banking

A Guide for Small and Medium-Sized Enterprises

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This guide is part of International Trade Centre’s (ITC) Trade Finance programme, which provides assistance to help small firms in developing countries develop their capacities to link to global markets through exports. It is intended primarily for trade support institutions of developing countries, and owners or finance managers of small firms. The aim is to help these firms decide whether Islamic banking options are feasible for them, and how to use them. This guide intends to help the non-specialist reader understand and use Islamic finance. Part I – Understanding Islamic Finance – covers the key principles and perspectives of Islamic banking relevant to small firms. Part II – Using Islamic Finance – consists of a “how to” guide to use Islamic banking instruments for specific transactions.

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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.

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