Country: Bosnia & Herzegovina
Organisation Name: First Islamic microfinance foundation or in Bosnian: Prva Islamska mikrokreditna fondacija
Started in the Year: 2001
Position: Director
Website: www.mfi.ba
Personal Introduction:
Edina Hadzimurtezic has a University degree in Economics from the University of Sarajevo, Bosnia and Herzegovina. She has more than 20 years of experience working as a Director of companies, and as Manager in different business sectors. Last 13 years she is the Director of the First Islamic microfinance foundation in Bosnia.
Professional Introduction:
The first Islamic microfinance foundation in Bosnia was founded by one of the world’s leading Islamic humanitarian organisations in 2001 the order to help to the most vulnerable groups. The mission and the goals were humanitarian.
The first Islamic microfinance foundation (MFI) is the only microcredit foundation in Bosnia that is using Islamic model of banking Loan types: social, business, housing, education and orphans Loans are used for different purposes on first place for education, to start a business, for housing and some social needs (for the health care, surgery, medicaments and to buy wood for heating during the winter).
Loan amount: max 5.000 EUR Microcredit program is designed on the first place to help socially vulnerable groups to get easy and interest free loans and to help them to become sustainable
MFI target groups are: Orphans, widows, war invalids, socially vulnerable categories, farmers, etc.
Since 2001 First Islamic microfinance foundation disbursed more than 22 thousand loans to the most socially vulnerable groups, cumulatively amounting to more than 27 million EUR.
Interview Questions:
What inspired you to start your career in the Islamic Economy?
The Bosnian banking system is very modern, and controlled by State Banking Agency. It is in accordance with international banking and accounting standards. There is no legal frame and regulation for Islamic banking in Bosnia, so it was a challenge to incorporate Islamic banking into modern banking. We successfully managed it many years ago.
What were the challenges you had to overcome in the initial stages of starting your career?
Regarding microfinance it should be to fulfil the mission to help the most vulnerable categories. So the most important in Islamic microfinance are: Islamic values and mission, knowledge and experience.
| Work hard, share knowledge, and help each other. Making a network on regional and global level will be very important so we can share knowledge and learn from each other. |
What is the most important thing you feel anyone needs to do to build a successful career in the Islamic Economy?
Many war widows, especially from Srebrenica (the place of genocide) are our beneficiaries since 2001. They came to Sarajevo as refugees with small children and without anything. Some of them took 20 loans from our microfinance foundation. As soon as they repay one they will take another loan. They took loans first to buy land, then to build house, to start agriculture, to send their children to school and University. Most of those Orphans now have University degree.
What were the most important learning experiences you would like to share?
BELIEF –We need to believe in what we are doing, and what our mission, vision, and goals we want to achieve. How we can help individuals, to the community to make the world a better place for all of us. Help, contribute, share, share knowledge and experience.
What advice would you give aspiring leaders in the Islamic Economy?
Work hard, share knowledge, and help each other. Making a network on regional and global level will be very important so we can share knowledge and learn from each other.
