Aligned with the objectives of national development plans to alleviate poverty, address unemployment, enhance the efficacy of charitable organizations' microlending, and provide supplementary income to low-income households, the General Union of Voluntary Societies has initiated the establishment of the Credit Funds Program. This micro-funding initiative specifically targets the poor, individuals with limited financial resources, and the unemployed of both genders. The program operates based on revolving loans, employing an Islamic profit-sharing (Murabaha) model for lending and collection, while collaborating with charitable associations for re-lending purposes.
Donner(s): Interest-free loan from the Development and Employment Fund to the General Union of Voluntary Societies.
Number of beneficiary associations: 90 associations.
Number of Beneficiaries: 3,800 people.
Covered Area: Nationwide.
