The microfinance sector, including the Microfinance Bank and the institutions, are slowly changing their works in traditional Islamic methods according to constitutional requirements.
The chairman of the Pakistan Microfinance Network and CEO of HBL Microfinance Bank, Mohammad Aamir Khan, told Monday in connection with the launch of the Pakistan Micro Finance Network and the 9th Annual Micro Finance during a press lettering hero at a local hotel.
He said that many microfinance banks have already adopted Islamic modules and products, while others are trying to change their tasks in the given timeframes. He added that all microfinance banks and organizations have hired Shariat scholars and experts to monitor the transfer of process in accordance with interest -based Shariah.
Talking about the next conference, Khan emphasized that this annual event will serve as a national platform for the past two decades to consider the successes and lessons of the last two decades and to restore the future of microfinance in Pakistan. By strengthening the partnership, strengthening and participating, this sector can position itself as a catalyst for economic change, social justice and sustainable development in the country.
The key topical areas of the conference will include the role of finances in promoting agriculture and rural finance, climate risk and adaptation, women’s financial inclusion, SME and rural enterprise growth, cooperation between microfinance players and fentx, and comprehensive insurance.
PMN CEO, Syed Mohsin, said the sector has set a target of serving 40 million users across the country. He said that microfinance banks and institutions will have to extend their access to farmers and women in rural areas, especially in rural areas.
He added that the Microfinance Bank is also entering a financial empowered program to improve liquidity and customer services under the World Bank’s Million 125 million Support Program. Despite the challenges facing some banks due to flood loss in rural areas, he said he was continuing to empower its customers and strengthen their financial health.