IslamOnline - Islamic Finance | 15 March 2010 - Micro-finance as a means of offering basic banking and small loans to those typically unable to gain such services in the mainstream finance markets was pioneered by Bangladeshi economist Dr. Muhammad Yunus. Dr Yunus was awarded the Nobel Prize for his immense contribution in poverty alleviation of Bangladesh.
Islamic Microfinance Contracts
Micro Islamic or Sharia compatible products use the same contracts and methods as traditional mainstream Islamic Banking.