ISLAMIC MICROFINANCE: AN INCLUSIVE FINANCIAL SYSTEM

Byline: SAQIB MASOOD CHISHTI Microfinance is the financial solution to the basic financial needs of the poor people, which are denied by the conventional commercial banking. Microfinance is usually defined as the provision of basic financial products and services to the under privileged segment of the society which has not access to the conventional financial institutions. Access to finance or credit is the fundamental right of every entrepreneur who is willing to expand or start his or her business but this right is denied by current financial system of commercial banks.