Category Archives: Financial Inclusion

Consensus of disagreements

Few in the Western world would question the fairness of interest payment to a loan creditor. In Islamic banking, interest or ribah, is incompatible with sharia, Islamic code. Curiously, the other two big monotheistic religions Judaism and Christianity share some queasiness about charging interest. Islamic financial products tend to be arranged like partnerships,… Read more »

Unbanked, underbanked, and misleading semantics

It’s unfortunate that to describe people with limited or no access to financial services we use terms like unbanked or underbank, suggesting some sort of unmet need. While hearing about the undernourished should draw our sympathy, for the unbanked, apathy would be an acceptable response. Financial inclusion, is a desirable… Read more »