Islamic microfinance: An emerging market niche

An estimated 72% of people living in Muslim-majority countries do not use formal financial services. Even when financial services are available, some people view conventional products as incompatible with the financial principles set forth in Islamic law. In recent years, some microfinance institutions (MFIs) have stepped in to service low-income Muslims who demand products consistent with Islamic financial principles – leading to the emergence of Islamic microfinance as a new market niche.

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Industry, Innovation and Infrastructure