Lesson 32. Islamic Banking

Lesson 32. Task 5. See the video on how thousands of Pakistani households are turning to microfinance institutions that provide loans based on Islamic law

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Mixing Finance with Religion in Pakistan

 

1. What is Saima Sheikh’s small business?

2. Why is paying and charging interest forbidden in Islam?

3. Which institutions provide loans in Pakistan?

4. Who uses the Sharia-compliant financial services?

5. How much did Saima loan from the akhuwat to start het academy for poor children?

6. What does Saima feel about the circumstances she is forced to run her business in?

7. What is the ratio of micro-finance organisations in Pakistan?

8. What is the average loan amount at the akhuwat?

9. What does the growth in the micro-finance institutions depend upon? Why?

10. What is the experience of Sabiha Begum? How did she launch her tailoring business?

11. What encourages the borrowers to make bigger loans?

12. How is Saima planning to expand her business?

13. Why do borrowers donate money?

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