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Call for focus on Islamic micro-financing |
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| (superstock.com)Islamic investments must focus on micro-financing since the default rate in the sector is quite low. |
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(Sukuk.net - The Peninsula) Islamic investments must focus on micro-financing since the default rate in the sector is quite low, an Islamic financial expert said.
During a panel discussion at the concluding day of a key Islamic banking forum, Safdar Alam, an expert, suggested Islamic financers better tap micro-financing as a viable investment option.
"We should better start looking at this asset class as a possible avenue of investment. The default rate in the sector is low," said Alam.
Micro-financing is all about helping people do small things. The business has, therefore, has a lot of social good to deliver as well. Venture capital funds, food processing and direct investment in trading and service related businesses, among others, are some of the other untapped avenues for Islamic investment, other speakers said.
The two-day 'Leaders in Islamic Finance 2009' conference ended yesterday. Speakers said there were a lot of opportunities for Islamic investment in the primary market as well due to the global downturn.
Faiz Nassim, from QINVEST, said Islamic investors could also look at socially responsible investment avenues as well as a viable alternative for investment.
The event also discussed the possibility of launching Islamic hedge funds. It was pointed out by experts that just as 10 years ago, launching Islamic binds ('sukuks') was considered impossible by Islamic scholars, there would soon come a day when Islamic hedge funds could be launched. the peninsula.
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