Nawal Abdallah, Ebdaa Microfinance Bank, Sudan, The Challenges and Opportunities of Islamic Microfinance

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Post on 15-Feb-2017

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Why Microfinance Rocks

Ebdaa Bank for Microfinance-Sudan Model of Islamic Microfinance Experience

By: Nawal AbdallahEbdaa Bank for Microfinance-Sudan was founded by AGFUND It is practice began officially in December 2013 with a total capital $ 5,000,000.Ebdaas institutional shareholders (AGFUND) (IDB) (FCB) Sudan (SMDC) (EDB) Sudan other individuals private sector investorsObjective Provide financial and non-financial services to increase economic opportunities and investment for target groups.Target groupswomen, youth and disable with special needs

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#Access to Resources

Access to Resources by two ways :

The first method is using modaraba It is wholesale finance .two parties are involved (ebdaabank &commercial bank)The profit from the modaraba contract is shared by the financier and Ebdaa bank according to a pre-determined ratio usually about %60 and %40 for financer and Ebdaa bank respectivelyusing such method Ebdaa managed to get amount of 4.5 millions during the two years 2014 and 2015The second method (savings mobilization) using modaraba to attract deposits from customers .by using such method Ebdaa was able to move the savings and deposits amounted to 0.6 million

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#Loans products. Islamic products

Islamic modes of financeNo of loans Volume of loans $ millions% of loans Murabaha10,2254.561.5Salam1,9580.5911.5Musharaka20.0050.5Ijarah1,7850.910.5Mogawala2,6301.316Total16,6007.3100

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#Achievements after tow yearsTen branches

16,600 loans disbursement

$7.3 millions value of loans disbursed

19,000 saving accounts1,980 solidarity group

90% Women borrowing Operational efficiency 125%

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#- Lack of awareness for customers in Islamic modes of finance

- Relatively high cost and long procedures in implementing Morabaha

ConclusionEbdaa Sudan established under an encouraging environment and well developed regulatory framework. This situation could favor Ebdaa Sudan to play a vital role as incubator for all AGFUND banks in different countries.Some Challenges

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#Thanks

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