Islamic finance urged to broaden the scope of Islamic microfinance

KUALA LUMPUR: The Islamic finance industry should look into opportunities to broaden the scope of Islamic microfinance that currently only represents 1% of the global microfinance outreach, said Raja Nazrin Shah, the Regent of Perak.

In his opening speech at the Islamic Financial Intelligence Summit (IFIS) 2013, he said that Islamic finance had a crucial role to play in bringing the financially underserved Muslims into the economic mainstream.