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Global Islamic Microfinance Market Will Experience Expansion of Product Lines from 2014 to 2018

Reportstack has announced a new market research report on the Global Islamic Microfinance Market 2014-2018. Islamic microfinance is increasingly playing a major role in poverty alleviation in underdeveloped nations across the world, and the market is expected to grow at a CAGR of 19.7 percent during the forecast period.

About the Report

The report focuses on the strong correlation between Islamic principles and basic tenets of conventional microfinance that is one of the major reasons for this strong market growth. The report also highlights the Islamic microfinance portfolio of rural banks, NGOs and commercial banks that was previously heavily skewed towards microcredit with Murabaha and Qard al Hasan being the primary loan types available. However, now the portfolio of institutions, especially of commercial banks, is becoming diverse.

“The products being offered go beyond credit, like savings, insurance, remittance services, currency exchange, credit and debit cards and salary payments. Islamic microinsurance called Microtakaful is a new product that is gaining immense popularity. Low-income populations are the major beneficiaries of microfinance,” .

“Microtakaful proves to be very useful for people who cannot afford premiums of commercial insurances. Along with life insurance, these institutions offer insurance against job loss, crop loss, accidents and other such vulnerabilities.”

Key Information Covered in the Report:

Market segmentation, size and forecast through 2018

Market Growth Drivers:

Promotion of Islamic Microfinance by Governments
For a full detailed list, view our report.

Market Challenges:

Achieving Operational Efficiency
For a full detailed list, view our report.

Market Trends:

Expansion of Product Line
For a full detailed list, view our report.

Key Vendors:

Al Baraka Islamic Bank
Islamic Bank of Britain
Mawarid Finance

Other Prominent Vendors:

Bank of Khartoum
Family Bank
Wasil Foundation

Complete report with TOC available @ Global Islamic Microfinance Market 2014-2018.