MADISON, Wis. — A new technical report issued by World Council of Credit Unions finds that the mutual ownership and equal distribution of profits typical among financial cooperatives may make credit unions attractive for Islamic savers and borrowers.
The report, Supporting Credit Union Development in Afghanistan: An Overview of Issues Important to the Development of Shari'a-Compliant Cooperative Finance, outlines the challenges WOCCU confronts in establishing credit unions in the war-torn Islamic country.
Robert Wieland is the report's author and a researcher with Main Street Economics.
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