Training Course on ‘Islamic Microfinance’ in Somalia
Date: 09-11 November 2014
Venue: Mogadishu - Somalia

The Centre organised a training course on ‘Islamic Microfinance’ at the Somali Bank for Reconstruction and Development (SBRD) in Somalia on 09-11 November 2014. The Training Course was provided by Mr. Abdul Samad, Member of Shairah Compliance Department in AlHuda Centre of Islamic Banking & Economics, Pakistan.

The 3 days training course on ‘Islamic Microfinance’ mainly covered the following subjects:

  • Glance on Islamic Finance
  • Riba and Prohibition of Riba
  • Economic Rationale for Prohibition of Riba
  • Difference between Islamic Finance & Conventional Finance Mechanism
  • Development of Islamic Finance in Somalia
  • Shari'ah Foundation and Applications of Islamic Microfinance
  • Conceptual Framework of Islamic Microfinance
  • Islamic Microfinance – Characteristics
  • Sustainability, Outreach and Problems Pertaining to Microfinance System
  • Microfinance & its Product Mechanism
  • Islamic Micro Finance as effective tool of poverty alleviation
  • Islamic Micro Financial Products Mechanisms & Compatibility with Conventional Microfinance Products
  • Trade Based Modes of Islamic Microfinance (Murabaha, Salam, Istisna etc.)
  • Mechanism of Trade Based Product (Murabaha, Salam & Istisna)
  • Partnership Based of Islamic Microfinance (Mudarabah & Musharakah)
  • Rental Based Mechanism/Products of Islamic Microfinance (Ijarah & Diminishing
  • Musharakah)
  • Application of Partnership & Rental Based Modes in Islamic Microfinance
  • Different Models & Deposit Management in Islamic Microfinance
  • Definitions, Concept & Uses of Waqf, Qarz-e-Hassan, Cooperatives & Zakat in Islamic Microfinance System
  • Liability (Deposit) Management Techniques for Islamic Microfinance
  • Product Development for Islamic Microfinance Institutions
  • Development of Islamic Microfinance in Jordan - A Case Study
  • Micro Takaful (Islamic Micro Insurance) & Risk Mitigation
  • Opportunities and Challenges of Micro Takaful in Islamic Microfinance