iSHRAQ Microfinance

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iSHRAQ*Microfinance

iSHRAQ*Microfinance helps microfinance institutions to improve their efficiency and transparency through comprehensive technology

No collaterals, guarantors, or bank

accountsNo penalties for

late payments

Loan full or partial dropping in case of customer death or inability to repay

Customer performance

tracking for further loan programs

Grouping concept to mitigate collection

risk (Takaful concept)

iSHRAQ*Microfinance Loan Programs Business Features

• Program announcement and applicant registration

• Applicant visit and application filling

• Primary approval

• Encouragement meetings

• Commitment proofing fee payment

iSHRAQ*Microfinance Loan Programs Typical Financing Cycle

• Attendance of induction course and collection of attendance fee per session

• Collection of required application documents, agreement on loan amount and repayment tenure

• Final Approval

• Insurance company agreement

• Group forming, leader selection, and announcing of the periodical meetings’ dates / location

• Loan disbursement

Apply to other loan programs before or after current loan maturity

Apply to the same loan program after its maturity with greater amounts

• Periodical meetings for collection of loan and insurance amounts

• Periodical visits to follow up on loan usage

• Commitment and payment schedule

• Compliance with loan usage that allows the customer to:

Loan rescheduling

request, study, and approval

Early settlement and rebate amounts

Loan dropping request, study, and approval

Arbitration closures

Maintenance transaction for the booked loans:

• Web-based application, i.e. can be deployed on the Cloud and interfaced with any hi-tech device like mobile or iPad

• Flexibility to setup different offerings and automate the credit decision and approval processes

iSHRAQ*Microfinance - Solution Characteristics

Ability to cover the full microfinance phases including:• Campaign• Booking • Follow-up & Maintenance • Post-Maturity

Ability to manage Microfinance

products that are not based on cash

only, but also on assets like primitive

industrial equipment, i.e. Islamic

products like Murabaha or traditional

products like leasing (hire purchase)

Bahrain . Egypt . India . Indonesia . KSA . Kuwait . Lebanon . Malaysia . Pakistan . Sudan . UAE . UK

www.path-solutions.com | info@path-solutions.com

iSHRAQ Microfinance

Software