• Islamic finance
Oct 22, 2013

JOINT EXPERT WORKSHOP BETWEEN GIZ AND ISLAMIC DEVELOPMENT BANK ON ISLAMIC MICROFINANCE

What is the difference between ‘smart’ and ‘dumb’ money in the understanding of the Islamic Development Bank? To answer this and other questions about Islamic microfinance, a joint expert workshop was held in Amman from 30th September to 1st October, 2013. The technical knowledge transfer between GIZ and the Islamic Development Bank had been agreed upon in a MoU between the two organisations as one major priority.

 

Experts from both organisations elaborated on field experience and challenges of Islamic microfinance and other core topics of financial inclusion. The event was characterized by a very cooperative atmosphere and marks a further important step to deepen the mutual understanding. As a leading organisation and knowledge carrier in Islamic finance, the IsDB brought in expertise in promoting Islamic financial services for underserved populations and the major challenges of the Islamic microfinance industry. GIZ added experience in related topics such as SME, Green, and Agricultural finance.

 

The foundation for the cooperation between GIZ and IsDB has been laid in a joint symposium in September 2012. Relations have been established by the GIZ Regional Programme ‘Cooperation with Arab Donors’. At the closure of the workshop, both organisations subsequently agreed on intensifying the knowledge sharing process in a more systematic way, for example by staff exchanges.

 

By Julia Erdelmann

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