---------- Forwarded message ---------- From: Finance Forward <i...@meglobaladvisors.com> Date: Mon, Nov 2, 2015 at 10:18 AM Subject: Bank of Khartoum microfinance unit leverages zakat in Islamic microfinance To: Samer <kanta...@gmail.com>
Visually hidden preheader text. [image: Middle East Global Advisors logo] 2nd November 2015 [image: Finance Forward - Your definitive source of insights & intelligence on the financial world and the political economy of the MENASA region] Home <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=45a3c699e6&e=f901ca2b34> About <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=d66916a53a&e=f901ca2b34> Insights <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=e213b83a4e&e=f901ca2b34> Blog <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=e96968cc05&e=f901ca2b34> *FAST FINANCE <http://megaevents.us3.list-manage1.com/track/click?u=4bccbea900e54b305a9c6a37c&id=e6eb6a362f&e=f901ca2b34>* Global monetary policy continues to be a driving force in global equity markets as well as for commodity prices that are important for emerging markets across the MENASEA region. Since last week’s issue where we mentioned an increasing likelihood that the European Central Bank would add more stimulus in December, the US Federal Reserve has expressed continued confidence in the US economy’s growth and a reduction in risk related to global markets (read: China). Both factors the Fed is looking at point to higher chance (market based measures have risen to show a 50% probability) that it will raise the US Fed Funds Rate target in December althoughincreased ECB quantitative easing, the effect of which is discussed below, could increase the risk of both occurring simultaneously. *Bank of Khartoum microfinance unit leverages zakat in Islamic microfinance <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=bd5a893558&e=f901ca2b34>* *The following is an exclusive interview with Fadi Salim Al Faqih Chief Executive Officer Bank of Khartoum about the bank’s IRADA Islamic microfinance program. Fadi joined BOK in 2006 as Chief Operating Officer and in 2008 was appointed as CEO spearheading BOK’s business development, restructuring and transformation to become the leading Islamic financial services group in the Sudan. Under his leadership, BOK has enhanced and developed its service offer full range of products and services for Corporate Banking, Retail Banking, SME, Microfinance, Treasury and Investment banking across multiple channels in Sudan.* *Finance Forward (FF):* Could you please explain, in general, the microfinance program you offer and how it was developed and the partners you are working with to develop it? *Fadi Al Faqih (BOK):* IRADA is specialized company for Islamic microfinance; it is a private joint-stock company which is owned by Bank of Khartoum and the Islamic Development Bank. IRADA aims to provide increasing numbers of entrepreneurial low income people in Sudan with the means, through disbursement of micro credits, to undertake and expand income generating activities and create sustainable livelihoods and employment. IRADA strategic dimensions are based on the balance between Social and Economic Dimensions of Trade. IRADA is keen to make partnerships with development organizations or microfinance institutions (MFIs) in Sudan to eradicate poverty through collective efforts with additional partners including international organizations and the private sector. * Continue Reading * <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=85a74d709f&e=f901ca2b34> [image: Event Banner Ad Placeholder] <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=db05cbbcde&e=f901ca2b34> *MENA region’s oil exporters face double whammy if Fed and ECB move in opposite directions <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=f1d23a4e0f&e=f901ca2b34>* According to the Middle East and Central Asia Regional Economic Outlook released by International Monetary Fund (IMF) last week, the economic outlook for the MENAP (Middle East, North Africa, Afghanistan, and Pakistan) region remains highly dependent on geopolitics, the developments in the hydrocarbon industry and China growth. A rise in interest rates by the US Federal Reserve would have a two-pronged impact on oil exporters within the MENAP region. The forecasted growth in the MENAP region for 2015 is expected to be 2.5 percent, down from a growth of 2.7 percent last year and down by 0.5 percentage points compared with the IMF’s last predications stated in May 2015. The major impact of the oil price decline on oil exporting governments has been on their fiscal deficits. The IMF has predicted the fiscal deficits to swell up to 13 percent of GDP in the GCC and 12 percent of the GDP in non-GCC oil exporters in 2015. Despite the drop in energy prices which would, all else equal, lower the import bill (and the fiscal impact of the subsidies provided for energy), the fiscal deficits for the oil importing countries are expected to only narrow slightly to 7.3 percent of the GDP from a peak of 9.5% of GDP in 2013. This shows the how the impact of non-oil factors is affecting the region – it’s not just oil. * Continue Reading * <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=09168c45e9&e=f901ca2b34> <http://megaevents.us3.list-manage1.com/track/click?u=4bccbea900e54b305a9c6a37c&id=ac588c063f&e=f901ca2b34> *Featured Research* *Thomson Reuters-RFI Responsible Finance Report* The ‘Prudent ESG’ demand in GCC countries is expected to reach at least $12.6 billion in assets by 2019, which represents 55% of the projected Prudent ESG demand across the twelve largest OIC markets. *Download Report* <http://megaevents.us3.list-manage1.com/track/click?u=4bccbea900e54b305a9c6a37c&id=74e50ac04e&e=f901ca2b34> Featured Events Date Location 22nd Annual World Islamic Banking Conference <http://megaevents.us3.list-manage2.com/track/click?u=4bccbea900e54b305a9c6a37c&id=f759ba22ec&e=f901ca2b34> 1 to 3-Dec-2015 Manama, BH -- -- You received this message because you are subscribed to the Google Groups "Kantakji Group" group. To post to this group, send email to kantakjigroup@googlegroups.com To unsubscribe from this group لفك الاشتراك من المجموعة أرسل للعنوان التالي رسالة فارغة, send email to kantakjigroup+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/kantakjigroup?hl=en سياسة النشر في المجموعة: ترك ما عارض أهل السنة والجماعة... الاكتفاء بأمور ذات علاقة بالاقتصاد الإسلامي وعلومه ولو بالشيء البسيط، ويستثنى من هذا مايتعلق بالشأن العام على مستوى الأمة... عدم ذكر ما يتعلق بشخص طبيعي أو اعتباري بعينه باستثناء الأمر العام الذي يهم عامة المسلمين... تمرير بعض الأشياء الخفيفة المسلية ضمن قواعد الأدب وخاصة منها التي تأتي من أعضاء لا يشاركون عادة، والقصد من ذلك تشجيعهم على التفاعل الإيجابي... ترك المديح الشخصي...إن كل المقالات والآراء المنشورة تُعبر عن رأي أصحابها، ولا تعبّر عن رأي إدارة المجموعة بالضرورة. --- You received this message because you are subscribed to the Google Groups "Kantakji Group" group. 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