I got an email from Phillip Issa earlier this week about my inquiry as to whether Ryada (a partner of CHF International), in Palestine, uses Islamic finance. He got my email thanks to FATEN, another partner in Palestine who replied promptly to my emails and gave me a lot of information about their Islamic microfinance projects.
Here is an excerpt of he said (emphasis mine):
My name is Philip Issa and I am the Kiva Fellow serving in Palestine. I am here only temporarily but I have been working with FATEN and Ryada on their Kiva portfolios. Hind of FATEN forwarded to me your question about islamic loans at Ryada. Thank you for your inquiry.
Ryada does not yet offer islamic loans in any part of their portfolio. FATEN, as you know, does, under the title Murabaha loans. I do not know whether other Kiva partners outside of Palestine offer islamic loans […]
Walhamdulillah, we finally got an answer from Ryada (albeit that they don’t use Islamic microfinance).Advertisements