Islamic Finance in South Asia: Financial Inclusion of the Marginalised

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1 hr 4 min video·en·May 14, 2026

Summary

The webinar examined how Islamic finance can drive financial inclusion for South Asia's marginalized populations by leveraging microfinance, technology, zakat, and gender‑focused initiatives.

Key Points

—The presenters emphasized that Islamic finance must first address financial inclusion of the unbanked in South Asian countries such as Pakistan, India, Bangladesh, and Sri Lanka.
—More than 70% of the region's population remains without bank accounts, forcing many to rely on loan sharks and riba‑based lending.
—Microfinance models like Bangladesh's Grameen Bank have demonstrated that inclusive financing can boost economic growth, though gender biases in outreach persist.
—Integrating Islamic microfinance with micro‑takaful can provide a safety net against natural disasters like floods, enhancing borrower resilience.
—Mobile technology, exemplified by Kenya's M‑Pesa, can bridge the gap between high mobile phone penetration and low banking penetration in South Asia.
—The English common‑law foundations of South Asian legal systems allow flexibility to design Sharia‑compliant products that prioritize substance over form.
—Mobilizing zakat to fund micro‑takaful premiums and micro‑finance loans creates a uniquely Islamic mechanism for social protection.
—Successful case studies include Pakistan's emerging micro‑takaful platforms and Sri Lanka's Muslim‑Aid partnership, which illustrate the impact of low‑cost insurance.
—Future innovation should move beyond reverse‑engineering conventional finance toward models rooted in equity, risk‑sharing, and social justice.
—Empowering women through dedicated investment vehicles and gender‑parity policies can unlock substantial capital and improve loan repayment rates.

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Islamic Finance in South Asia: Financial Inclusion of the Marginalised

The webinar examined how Islamic finance can drive financial inclusion for South Asia's marginalized populations by leveraging microfinance, technology, zakat, and gender‑focused initiatives.

Key Points

—The presenters emphasized that Islamic finance must first address financial inclusion of the unbanked in South Asian countries such as Pakistan, India, Bangladesh, and Sri Lanka.

—More than 70% of the region's population remains without bank accounts, forcing many to rely on loan sharks and riba‑based lending.

—Microfinance models like Bangladesh's Grameen Bank have demonstrated that inclusive financing can boost economic growth, though gender biases in outreach persist.

—Integrating Islamic microfinance with micro‑takaful can provide a safety net against natural disasters like floods, enhancing borrower resilience.

—Mobile technology, exemplified by Kenya's M‑Pesa, can bridge the gap between high mobile phone penetration and low banking penetration in South Asia.

—The English common‑law foundations of South Asian legal systems allow flexibility to design Sharia‑compliant products that prioritize substance over form.

—Mobilizing zakat to fund micro‑takaful premiums and micro‑finance loans creates a uniquely Islamic mechanism for social protection.

—Successful case studies include Pakistan's emerging micro‑takaful platforms and Sri Lanka's Muslim‑Aid partnership, which illustrate the impact of low‑cost insurance.

—Future innovation should move beyond reverse‑engineering conventional finance toward models rooted in equity, risk‑sharing, and social justice.

—Empowering women through dedicated investment vehicles and gender‑parity policies can unlock substantial capital and improve loan repayment rates.

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