CGAP, Deutsche Bank, Islamic Development Bank, and Grameen-Jameel are pleased to announce Islamic Microfinance Challenge 2010: Innovating Sustainable, Scalable, and Market-Driven Models. The contest is a joint initiative to promote the innovative design of Shariah-compliant products for Islamic microfinance clients.
We are seeking original Islamic microfinance business proposals which are profitable, sustainable, scalable, and Shariah-compliant. Finalists of this competition will be awarded US $100,000 in grant funds as well as need-based technical support to launch a pilot project of their proposed business idea. This is an opportunity for you to showcase innovative business ideas, gain industry-wide recognition, and benefit from the funds and technical expertise of leading institutions in the microfinance and Islamic finance sectors. Download the Phase I Application Form Please complete and return the application form with accompanying attachments to Ms. Nimrah Karim at [email protected] The deadline for submission is May 3rd, 2010. Why apply? * Design a working model for an emerging industry which could extend financial access to millions of poor people * Win US $100,000 in grant funds to pilot an Islamic microfinance program * Gain industry-wide recognition * Benefit from the mentorship and technical expertise of leading institutions in the microfinance and Islamic finance sectors Who can apply? * This competition is open to the general public. We welcome applicants from all geographical locations. * We are now accepting applications in English, Arabic, French, and Indonesian Bahasa. * Institutions as well as individuals may apply, whether or not they have prior operational experience with Islamic microfinance. * Applicants must have the capacity to launch a pilot project, should they become a finalist. What will judges look for? * Original and innovative business ideas * Sustainable, self-sufficient, and scalable business models * Products that are profitable, affordable, Shariah-compliant, and suit the financial needs of the poor and economically vulnerable What is the application process? * Applicants must apply to a two-stage process. * Phase I seeks background information on the applicant and basic information on your proposed business idea. This application is due on May 3rd, 2010. You can download the form here. * Applications will be filtered by the judges and the short-listed group will be invited to apply for Phase II. For further information: Send any queries to Ms. Nimrah Karim at [email protected] Click Here to get your aplication http://www.cgap.org/gm/document-1.9.42142/03-15_Phase_I_Application_Form%5B2%5D.pdf or open website http://www.cgap.org/p/site/c/template.rc/1.26.12645/
