“…if anyone saved a life, it would be as if he saved the life of all mankind…” Al – Quran (5:32)
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Micro Finance
Muslim Aid Sri Lanka is one of the pioneer institutions in Sri Lanka in the field of Islamic Micro Finance. Focusing on the poverty stricken entrepreneurial segment of the nation's GDP contributors the Micro Finance arm of Muslim Aid Sri Lanka undertakes the tedious task of providing a comprehensive livelihood and income earning solutions in according to Shari'ah guiding principles to the said target segment. Muslim Aid Sri Lanka has innovatively improvised on existing Islamic financial products such as Murabaha, Musharakah, Isthisna and Salam to deliver custom tailor made solutions to each of their clients.
MASL offers following Islamic Microfinance services to the poor to develop their livelihood interventions in innovative and sustainable manner.
Financial Services
• Murabaha
• Salam
• Isthisna
• Musharaka
Operating in the strategic locations of Colombo, Trincomalee and Batticaloa, Muslim Aid has successfully improved the standards of living for over 1,300 families and continues to do so. The unique Micro Finance system of Muslim Aid was designed by its in-house experts following 'outside the box' ideologies and cost effective methodologies has returned a success rate of 99%. This is a commendable feat which included a disbursement amount of over Rs 62 Million and an active client base of 1,300 clients located in three separate districts of the Island.
Insurance reaches the poor-Joint effort Muslim Aid Sri Lanka and Amana Takaful
Insuring the uninsurable
First time in Sri Lanka - Islamic Microfinance Institution joins with Takaful provider.
Muslim Aid Micro Finance, the pioneer Islamic Micro Finance Institution in Sri Lanka, in collaboration with Amana Takaful, the pioneer Takaful provider in Sri Lanka, has come up with a novel method to provide micro insurance covers for its Micro Finance clients. This method of insurance, the first of its kind in Sri Lanka, is guided by Islamic principles. The objective of this program is to provide total solutions to the financial needs of the poor especially in mitigating the risk. Each and every client of the micro finance program is eligible to receive a life, health and hospitalization cover for entire family. This Micro-Insurance policy is affordably priced and delivered in a manner most convenient to the client.
At the launch of Micro-insurance, Colombage Mawatha,
23 July 2010
