Microfinance

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Microfinance

Any mode of finance designed to provide low-income individuals with the means to become self-sufficient.  Microfinance institutions issue small loans to those marginalized from normal modes of finance with the intention of helping the poor prosper by allowing them to save or borrow money. See: Microcredit
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Fortunately, there are in fact a number of donors out there who would participate in such a scheme, and the majority of those potential donors is willing to socially lend and donate the funds for charitable purposes, microfinancing and especially to Islamic microfinance institutions.
Limited Islamic Microfinancing facilities provided by Islamic Financial Institutions and the least attention and interest by International Donor Agencies (UNDP, World Bank, IFC) towards Islamic Microfinance is throwing the Muslim world into a devastating poverty.
The involvement of interest in microfinancing is one of the major causes behind the phenomenon and that is why Muslims were hesitating to avail the facility.