Sudan
Sudan has been embroiled in civil wars almost continually since its independence in 1956 from the United Kingdom. The division between the Muslim and Arab north and the non-Muslim and non-Arab south has led to millions of displaced people and casualties, conflicts fueled in part by oil. Though the South is not officially independent, there are two de facto governments, including separate central bank branches which operate under different principles. The North of the country operates under shariah law and all banking and microfinance must follow Islamic banking principles while the South follows conventional finance. The government in Khartoum is promoting microfinance but the sector remains nascent and underdeveloped.
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Triple Jump Advisory Services Partners
PASED [completed]
PASED is based in Port Sudan, an area where no other MFI operates. Because of the shariah laws in place in north Sudan, PASED offers Islamic microfinance products, including housing loans, business loans and, since 2008, solidarity loans. Because of its commitment to contribute to the economic development in Port Sudan, PASED works closely with a women’s economic empowerment program to give clients training in business and other areas.
- Triple Jump Advisory Services partnership since May 2008, completed in Q3 2010
- Number of borrowers (10/09): 5,105
- 69% women clients
- GLP (10/09): €704,000
- OSS (10/09): 105%
- Growth in # of clients between ’08 and ‘09: 31%
Services provided:
- MIS selection: assistance through the RFP process and review of offers from shariah-compliant MIS platform developers.
- MIS implementation: guidance through implementation process.
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