Pakistan Microfinance Investment Company (PMIC) has announced the launch of a new suite of Shariah-compliant financing products, expanding its offerings beyond conventional microfinance wholesale financing.
The new products, including Mudarabah and Musharakah, will be available to all of PMIC’s borrowing institutions. These Islamic finance instruments are designed to support organizations aiming to scale up their Islamic financing solutions for underserved communities without the need for significant investment in product development.
At the Annual Microfinance Conference today, PMIC signed its first Shariah-compliant transaction with SAFCO Microfinance Company Limited, worth PKR 100 million. This marks the beginning of a broader strategy by PMIC to partner with microfinance institutions across Pakistan and offer Islamic finance facilities to reach untapped regions and unserved clients.
This initiative is expected to enhance financial inclusion in Pakistan by enabling microfinance providers to offer accessible, Shariah-compliant financing options for low-income populations, further empowering underserved communities.
