HSBC Amanah, the global Islamic finance services arm of the HSBC Group, announced it has entered a partnership with Islamic Relief, a major international relief and development charity to offer a pilot Islamic microfinance scheme in Pakistan.
As per this partnership, HSBC Amanah will be providing funding towards Islamic Relief's microfinance projects in Rawalpindi. HSBC Amanah will also assist Islamic Relief as required in developing the Shariah structure for financing models and contracts and providing Islamic finance training to Islamic Relief staff.
Nabeel A Shoaib, Global Head of HSBC Amanah said: "We are extremely excited to partner with Islamic Relief in this ground-breaking initiative to bring greater financial inclusion to Pakistan's poor and empower hundreds of families to capture good economic opportunities.-PR