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Saturday, April 20, 2024

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United Nations High Commissioner for Refugees to provide Shariah compliant microfinancing to refugees

GLOBAL: The United Nations High Commissioner for Refugees (UNHCR), together with the Aga Khan Agency for Habitat-Afghanistan and First MicroFinanceBank-Afghanistan (FMFB-A), has launched a new Shariah compliant microfinancing scheme to assist internally displaced people, returnees and residents of host communities engaged in small business activities, according to a LinkedIn post.

The Grants and Microfinance scheme is a UNHCR–FMFB-A joint initiative around the Awdat Murabahah financing model to support financial inclusion, focusing on women. The scheme aims to support income generation and economic activities to help wean returnees off humanitarian assistance and into productive economic activities.

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