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First National Islamic Microfinance conference makes its mark

Lahore: The first  National Islamic  Microfinance  conference  was held here  in the Lahore Chamber  of Commerce and Industry. The notables who attended included Iftikahr Malik, Vice President Sarrc  Chamber of Commerce and Industry, Tahir Malik, Chairman Trafco Group of Companies , Mr. Zulfiqar Khokhar  Additional Direcroe Islamic Banking & Finance Department State Bank of Pakistan,  Mufty Iftikhar  Baig, Sharia Advisoe of Albaraka bank Mufty Mahmood Sharia Advisor Farz Foundation , Tariq Shafi, Regional Chairman FPCCI.and Ms Humera Awais Shahid, member Provincial Assembly.

The leading organizations that participated in the even included Akhuwat, Naymat Islamic Micrifinance, AHAN, Pak Qatar Family Takafal, Alhudda, CIBE, Kashf, Islamic relief, SMEDA, CWCD, Mojaz Foundation, Manzil Programme, Islamic Microfinance Network International, Lahore Chamber of Commerce and Industry, Saarc Chamber of Commerce and Industry, Federation of Pakistan chambers  of commerce and Industry  and Women  Chamber of Commerce were present  among others.

The First National Islamic Microfinance Conference 2011 marks a serious introduction of the Farz Methodology as a potent solution to ailing microfinance sector. The participants that included high profile businessmen and micro finance organizations highly lauded the efforts of the Farz Foundation for offering solutions in the most trying time in sector’s history.

The conference came as a relief for those who look for new or innovative methods to suit our changing times. On the top of it the event provided a platform and gave a new confidence to Islamic Microfinance Practitioners.

The presence of some of the sustained members (Clients) of Farz foundation laid bare the concrete out come of the Farz Methodology. They became an inspiration for the practitioner’s present in the conference as the partners and not the mere clients.

All the speakers term the conference a mile stone in the history of Islamic Microfinance in Pakistan and lauded the efforts of the Farz Foundation against all odds.

The Chief Executive Officer Farhat Abbas Shah said it is high time to practice Islamic microfinance and pledged the Farz Foundation will take along all the organization to make a difference.  That He said it is imperative to take up the restoration work in the flood-hit areas where the government already left the work unfinished. He said this challenge is also an opportunity. He also vowed to bridge the local and international investors. He also added that he has no doubt about the success of Islamic Microfinance.

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One comment

  1. chris alexander, injury solicitor

    Well, ok, but I think that the focus of organisations that facilitate financing should be on revision of current processes for microloans. They hardly can be called efficient. Just think, we have close to 3 billion people — and that’s close to half of the human population of the planet — who still live on less than $2 a day. Moreover, 2 thirds of them, which is two billion, remain absolutely “unbanked” – they don’t have any access to traditional financial infrastructures. So the coverage of the alliances in the industry must be much wider.

  2. chris alexander, injury solicitor

    Well, ok, but I think that the focus of organisations that facilitate financing should be on revision of current processes for microloans. They hardly can be called efficient. Just think, we have close to 3 billion people — and that’s close to half of the human population of the planet — who still live on less than $2 a day. Moreover, 2 thirds of them, which is two billion, remain absolutely “unbanked” – they don’t have any access to traditional financial infrastructures. So the coverage of the alliances in the industry must be much wider.

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