PROJECTS

Implementation of the Islamic Development Bank (IsDB) Project to Promote Islamic Microfinance in the Arab Republic of Egypt – Microfinance Support Program (MSP) for Egypt
Client: Social Fund for Development (SFD) – On behalf of the Government of Egypt 

The particular focus of the project rested with implementation of Islamic microfinance model in the country for the benefit of youth and women styled as Youth Employment Scheme – YES for the client ‘Social Development Fund (SFD)’ an apex government supported organization to finance its partner institutions including banks, Microfinance institutions, cooperatives, farmers associations, and individual businesses of micro and small enterprises. The project included establishing Islamic microfinance window in SFD by placing SOPs for product development (Murabahah, Mudarabah, Ijara, Diminishing Musharakah, and Salam), contracts and documentation, Shariah governance and control mechanism, and Islamic banking linkages for micro and small enterprise finance. The financial model developed for five years facilitated maintenance of sustainable revolving fund created through IsDB’s Restricted Mudarabah and Ǫard facilities. The capacity building was imparted by developing TOT style training toolkits for Islamic microfinance operations, product development, feasibilities of small and micro projects, and risk management. The client has also been facilitated by developing and providing training on various guides viz. Risk management, Accounting, Shariah governance, Shariah audit, Monitoring and evaluation, and MIS.