1 / 6

LINK BETWEEN ISLAMIC MICRO-FINANCE & MICRO - TAKAFUL

LINK BETWEEN ISLAMIC MICRO-FINANCE & MICRO - TAKAFUL. INTRODUCTION. The world of microfinance is structured around two main axes: B anks , that manage the financing of the entire economy  through the support of investment and consumption, and;

scottd
Télécharger la présentation

LINK BETWEEN ISLAMIC MICRO-FINANCE & MICRO - TAKAFUL

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. LINK BETWEEN ISLAMIC MICRO-FINANCE & MICRO-TAKAFUL

  2. INTRODUCTION The world of microfinance is structured around two main axes: • Banks, that manage the financing of the entire economy  through the support of investment and consumption, and; • Insurance companies, that constitute in a way the back office of the financial sphere including banks which, without the support and assistance of the insurance and reinsurance companies, cannot resist the structural deficits that undermine them. The economic system nowadays is based on finance which itself cannot work without insurance. It is the lungs that allow the economic and financial body to breathe and flourish.

  3. ISLAMIC MICRO FINANCE DEFINITION A mechanismprovidefinancial assistance to people excludedfrom the banking system. Islamic microfinance complies withprinciples of Islam and involves in projects halal (allowed by sharia). PRODUCTS • Murabaha- is the Sharia-compliance contract the mostcommonlyused to finance goods. • Qard al hassanis a loanextended on a goodwill basis, and the debtorisonlyrequired to repay the amountborrowed • Musharakaand mudaraba are contractswhichsharerisks and benefits. • Salamis an advancepayment in exchange of a future delivery. So with all thesefinancingtools. It shouldbenotedthat the Microfinance Institution isexposed to risksthatcould have negativeconsequences for itsoperation; as well as the potentialbeneficiaries of thesefinancing. This necessarilyrequires a mechanism to manage all theserisks. ISLAMIC MICRO TAKAFUL DEFINITION A mechanism to provide disadvantaged individuals or micro entreprises a sharia based protection at an affordable cost. PRODUCTS - Risks coverage - Sickness, death ,disability - Natural disaster, climatic changes - Fire or theft of assets - Loss of job … - Life insurance - Health insurance - Agricultural insurance • Assets and property insurance… With the Islamic Insurance TAKAFUL more specifically the micro Takaful, the risks that the microfinance institute and its members will incur will be shared. So we can undoubtedly say that the micro Takaful is essential to the good functioning of the Islamic financial system. So its implementation is crucial before considering promoting Islamic microfinance banks or houses

  4. CONCLUSION We can see that Islamic microfinance cannot go without the micro Takaful . The latter can serve as a lever for further penetration into the market, in compliance with the rules that govern this sector.

  5. Presentedby Dame MBAYE Founder and CEO of “OAC SA” (Brokerage in Insurance) Dakar, SENEGAL Mobile: 0022177-378-29-39 E-mail: dame@oac-assurances.org

  6. IF ISLAMIC MICROFINANCE IS THE HOPE FOR THE POORS MICROTAKAFUL IS THE HOPE FOR ISLAMIC MICROFINANCE AS WELL ASSALAM WALEIKUM WARAKH MARULAH…..

More Related