
After spending several years in Iran as a refugee struggling to make a living working in a beauty parlour, Shooperi Sharif never imagined that one day she would have a business of her very own. Last year, the 34-year old mother of three took a microfinance loan from the Foundation for International Community Assistance (FINCA) to expand her school.
Sharif is one of thousands of Afghans who refuse to take interest-bearing loans. Trying to cater to potential clients such as Sharif, FINCA in 2006 became the first microfinance institution (MFI) in Afghanistan to offer non-interest bearing Murabaha Islamic loans (contracts where sellers declare their cost and profit). Read more...
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