Despite Threats, Afghanistan CU Founder Upbeat

Diekmann, Frank J.
August 2011
Credit Union Journal;8/1/2011, Vol. 15 Issue 29, p8
Trade Publication
The article focuses on the statements by chief executive officer (CEO) Mahir Momand of Islamic Investment and Financial Cooperatives Group (IICF Group) on the developments in credit unions (CUs) in Afghanistan. Momand notes that CUs were able to prosper and have helped in job creation as they adhere to Muslim laws. He asserts that contextualization is needed to make CUs work by complying with the Islamic law. He adds that IIFC make loans to people approved by religious leaders and local village.


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