Converting Conventional Microfinance to an Islamic Microfinance Bank
Products for micro-clients, converting the loan book and funding, fair pricing, social finance and field operations
Advanced · 22 hours · 42 lessons · Language: English and Arabic · ID: IFS-COU-0077
USD 25Original price USD 45
Included in the annual membership.
No expiry
Millions of poor and low-income people avoid conventional microfinance because it charges interest. Converting a microfinance institution into an Islamic microfinance bank can reach them, but only if the products fit very small businesses, the pricing stays fair and the field operations really follow the contracts.
This advanced course takes a conventional microfinance institution through conversion: strategy and proportionate Shari'ah governance, Islamic products for micro-clients, converting the loan book and the funding, pricing and cost recovery, arrears, group guarantees and micro-takaful, integrating zakah, waqf and qard hasan, field operations and digital channels, and measuring impact and completing the conversion. There is no AAOIFI standard dedicated to microfinance; the course applies the principles of Shari'ah Standard No. 6 and the contract standards, and says where it does so.
The course has readings, practitioner case studies with worked logs, tests and calculations, slides, study notes and practice quizzes, and a final exam of 30 scenario-based questions in 60 minutes (70% to pass).
This course is written by ifSPACE in its own words, does not reproduce AAOIFI texts, is not affiliated with AAOIFI and is not a fatwa or legal advice.
What you will learn
- Explain Islamic microfinance and the institutional routes to an Islamic microfinance bank
- Design proportionate Shari'ah governance and a conversion roadmap for a microfinance institution
- Match Islamic products to micro-clients and convert an existing loan book
- Convert funding and set fair, transparent pricing
- Handle arrears, guarantees, micro-takaful and social finance correctly
- Run compliant field operations and report on impact and compliance
Syllabus
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1.Islamic microfinance and why MFIs convert
- Welcome to the courseFree preview1 min
- Islamic microfinance and why MFIs convertFree preview30 min
- Practitioner case study30 min
- Module 1 presentation15 min
- Module 1 practice quiz15 min
2.Conversion strategy and Shari'ah governance at small scale
- Conversion strategy and Shari'ah governance at small scale30 min
- Practitioner case study30 min
- Module 2 presentation15 min
- Module 2 practice quiz15 min
3.Islamic products for micro-clients
- Islamic products for micro-clients30 min
- Practitioner case study30 min
- Module 3 presentation15 min
- Module 3 practice quiz15 min
4.Converting the existing loan book
- Converting the existing loan book30 min
- Practitioner case study30 min
- Module 4 presentation15 min
- Module 4 practice quiz15 min
5.Funding and deposits
- Funding and deposits30 min
- Practitioner case study30 min
- Module 5 presentation15 min
- Module 5 practice quiz15 min
6.Pricing, fees and cost recovery
- Pricing, fees and cost recovery30 min
- Practitioner case study30 min
- Module 6 presentation15 min
- Module 6 practice quiz15 min
7.Arrears, guarantees, takaful and rescheduling
- Arrears, guarantees, takaful and rescheduling30 min
- Practitioner case study30 min
- Module 7 presentation15 min
- Module 7 practice quiz15 min
8.Integrating Islamic social finance
- Integrating Islamic social finance30 min
- Practitioner case study30 min
- Module 8 presentation15 min
- Module 8 practice quiz15 min
9.Field operations, MIS and digital channels
- Field operations, MIS and digital channels30 min
- Practitioner case study30 min
- Module 9 presentation15 min
- Module 9 practice quiz15 min
10.Impact, reporting and completing the conversion
- Impact, reporting and completing the conversion30 min
- Practitioner case study30 min
- Module 10 presentation15 min
- Module 10 practice quiz15 min
- Course summary and where to go next20 min