Citigroup, Inc (NYSE: C) to Establish Shariah-compliant Microfinance Banks in Pakistan…

Citigroup, Inc (NYSE: C) will push the idea of creating Shariah-compliant microfinance banks for the needs of millions of Muslims, who have previously been excluded from micro-finance because of Islam’s prohibition on paying interest, said a senior official on Monday.
“There are large microfinance banks in Indonesia, Bangladesh, Pakistan, Morocco, Egypt [...]

SBP credit guarantee scheme for SMEs…

KARACHI: SBP governor Salim Raza would launch a credit guarantee scheme for small and rural enterprises under the financial inclusion program at a ceremony on March 19.
He will also announce a refinance scheme for small and medium enterprises in NWFP, FATA and Gilgit-Baltistan to enhance flow of credit to SME and agriculture sectors with greater [...]

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