INCEIF shares Islamic microfinance know-how with Cambodia

Islamic Wealth Management Symposium 2014

4 Aug 2015, Phnom Penh: INCEIF Deputy President Academic Prof Datuk Syed Othman Alhabshi had the opportunity to share his experience in developing Islamic micro-financing institutions with an international audience in the capital city of Cambodia.

This was made possible by World Islamic Economic Forum (WIEF) Foundation which invited Datuk Syed Othman to be one of the panellists for a session on `Islamic Microfinance: Catalysing Change for Inclusive Growth’ at the WIEF Roundtable. The roundtable provided a platform for a candid discourse on several topical issues of interest to investors and businessmen alike. It brought together corporate leaders and businessmen to explore areas of investment, commercial opportunities and collaboration in Islamic microfinance, SMEs and education.

Islamic microfinance combines Islamic finance’s social principle of caring for the less fortunate with microfinance’s power to provide financial access to the poor. In order to provide access to sustainable services on scale, it is imperative for Islamic microfinance to adopt innovative and sound practices for the industry to flourish. 

The session discussed:

  • the new developments taking place and how the industry can adapt to these changes
  • the impact of mobile banking and technology on the industry
  • the regulation and policy required in the wake of digital technology
  • the current views on the use of cash waqf as a source of funding and the need to integrate them with Islamic microfinance

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