Muslim youth to be offered Sharia-friendly loans in Malawi

Muslim Association of Malawi (MAM) with funding from a Kuwait business person will be giving out Sharia-compliant interest free loans to the youths.

Muslims: To get loans

Muslims: To get loans

Katawala: Malawi Muslim youth to be offered loans

Katawala: Malawi Muslim youth to be offered loans

Sharia has no jurisdiction in Malawi and the loans will in no way pave for compliance of the Islamic loans but only putting their faith in practise.

According to the Islamic faith, paying or charging interest on any loan is not permitted.

MAM treasurer general Bujad Kalera confirmed the development.

Kalera said MAM is very concerned with the status of Malawi Muslim youth where most of them are jobless and have no income generating activity.

“Islam taught us to work hard to earn a living, so we are very concerned with our youth,” he said.

Kalera further added that those with already existing businesses will have an advantage to the loan.

One of the Muslim artists Ahmad Pilo, who is also a video and audio producer, said the loan will help artists in production of new songs.

Pilo said as artists they don’t benefit from sales of their music due to piracy.

Adding on the same development Ishmael Katawala said music is playing a great role in spreading the message of Islam.

Katawala further said the loan will boost talents of youngsters.

The loans is in form of money a minimum of K1 million will be given to be refunded within a period of one year.

Katawala said those taking out the loans will pay back exactly the same amount as those who use the traditional scheme, essentially making a charitable donation rather than paying back interest.

The new loans will operate under the islamic model of ‘Takaful’, where people contribute money into a pool system to guarantee other members against loss or damage.

Follow and Subscribe Nyasa TV :

Please share this Article if you like Email This Post Email This Post

More From Nyasatimes

More From the World

29 thoughts on “Muslim youth to be offered Sharia-friendly loans in Malawi”

  1. Wazil says:

    Thank u our leader sheap muslims we love u mashaalah ‘asiyeni angoni musingodya ngumba zanuso fuckin bullshet?machetani ?

  2. George phiri says:

    Am surprised when people say dziwani yesu!!!! Muslims know jesus. Lets not comment on issues ignorantly. How many times does the name jesus appear in the Quran? You cant even answer. I have one plea to my christian freinds, read the quran, and see for yourself. Christans should also know that christianity is not the same; mboni dza yehova, catholics, adventists have all defferent beliefs. So; shut up if you have no comment to make on this sweet religion.
    Interest system caused the world economy to crash such that America has nothing in their pocket. They owe other countries big time.

  3. chipembezo chenicheni says:

    Stop putting on explosives and becoming a human fireball to kill innocent people.Christians do not fight for their God because he is the living God who fights for them.We don’t die for him that we will meet 72 virgins waiting for us while we failed to have one on earth.Dont be brainwashed.Follow the true religion that will save you for the rest of your life.Its not too late.Leave that to boko haram or Al shalbab.

  4. BUFFALO PAINT says:

    BRO DR. SALMIN ! IYE NDIYE NKHANI YOFUNIKA KWAMBIRI OSATI DZAMISECHE NGATI MKAZI

  5. mufiti moctada alsada says:

    Tawapatsanidi amenewa adziyenda ndima business kwinaku akudzalawa nkhumba kuno. Kuno amene mumati asilamuwo tikukanganirana nawo magodo a nkhumba muziwayamu kkkkkkkk. Mwati ntchito zikuwasowa,ntchito amagwira osaphunzira,yautelala chani

  6. Real Faith says:

    No need of interest.Bin Laden left alot of money in Pakistan banks that can be let out on interest free basis.Zina ndi izi akuseweletsa a alishabab Ku Somalia ndi boko haram Ku Nigeria.Dziwani Yesu nthawi isanathe.

  7. arkmm says:

    @Nkhota kota as it is, Be assured that belief in Trinity is pagan and true Christians do not believe in this false teaching. The Bible clearly says that there’s ONLY ONE GOD, JEHOVAH and that everything, including Jesus, was created by Him. That is why He is called, the Creator, the Almighty God. The teaching of trinity has a pagan origin, the Babylonians, Egyptians, Romans etc worshiprd trinities, but not the Israelites, whose God was Jehovah, the God most Christians claim to worship. So all true worshipers of God believe that He is One, and not a Trinity. But still there’s more than just worshipping one God for true worshipers. Think for a second, does Islam teach its followers to be good people?? are Moslems known world wide as peace loving people as far as their actions is concerned??? are they tolerant and do they respect life created by God?? are they united as one family, one group of worshipers world wide?? do their life style, day to day activities really prove that they are true worshipers of God?? There’s more than just believing in one god, our actions should demonstrate that we are true worshipers

  8. Chingaipe says:

    Islam does not have to be a dangerous religion. It is as peaceful as those who lead it! Christianity is so full of contradictions, and killings in the name of God as if God Himself has no capacity to punish people. I can only hope that our moslem brothers do not fall prey to evil people who might want us to start fighting in this country…otherwise, I trust this bank will extend its interest free loans to non moslems, just moslems have been benefitting from Christian Banks…

  9. Bigman Yusuf Mjomba (Ayuzzey) says:

    MashaAllah, thats what we need !!!

    Welcome development !!!

  10. nikisi says:

    This is good development for the country where banks steal from its clients in a broad day light in the form of making interests exorbitantly. Eg how can national bank make profit of K14 billion?

  11. Shalia says:

    U will die stupid if u hate Islam,Proud to be Muslim

  12. If only Malawi could realise the importance and benefits of Islamic Banking,,malawians could have a turning point,,,But alas! Many are those who worshing false gods,3 in 1 and a human god who walked on this earth ate and slept,felt pain,,,,,Islam regects Ursury and all kinds interest…..Try to learn and know the true religion,that worships the One and True God,the creator of everything

  13. Totolitotoli says:

    No.11 you are a son of the Devil and God should forgive you of your ignorance and for having been brainwashed by your European masters where I tend to wonder which prophet of God in the Bible ever set his foot in UK,USA OR italy to teach you the right Relgion?Whether you like it or not Islam remains the only untapped true religion of the Almighty God ‘osati zanu zongopeka nokazo.God shall reprimand you in the hereafter, sons of Rucifer!.Iam Proud to be a Muslim “great gift from God I cherish”

  14. Girl Lady says:

    Ntchito zikuwasowa chifukwa you dont encourage ana anu achisilamu to go to school mumafuna adziphuzira zanu zija zomwe sizingawaphindulire tsogolo lawo

  15. savimbi says:

    muslim youths only? if u rn’t a muslim u wil not access it until u bcome 1. imeneyi si 666 koma…nanga mpaka asilamu okha

  16. Bazooka says:

    Start with Mangochi so as to stop the youth from this district trekking to South Africa. Some are completely illiterate and one wonders how they manage to communicate with non Malawians. They are a huge embarrassment to this country that in this day and age a country can still have citizens who can’t read and write.

  17. too late says:

    Many other religious organisations and churches have this scheme for their devout followers since a long time, you muzlims are only waking up now!

  18. That’s the beauty of Islam
    it teaches us not to take out Riba/interest and all the things that are impermissible
    Many verses in the Bible are saying the same thing about “Usury”
    Exodus 22:25
    Iam really proud for being a Muslim

  19. abdalla says:

    Not long from now A Malawi tizakhala tikuthawa dziko lili lathu lomwelo Boko Haramu italowa mwaka chete chete. Chipembezo chakumidima I chi chengelani nacho a Malawi inu.. I would like to suggest to Malawi Government to put these criminals on 24/7 surveillance anthu awa ngosakhulupilika awa.. mawa ndi nkucha muma zina.. cry my beloved Peaceful country

  20. yohane John says:

    Why everything concerning Islam on this nyasatimes most comments come with criticism and hatecisim On Muslims.What did Muslims do to you that you hate them like that please let’s enquire knowledge about all religions Why do you hate anything happening in Islamic countries while you are keeping quite on many things happening in non muslim communities.remember those 20 people died under bingo if it was in muluzi era you people should blame islam And today on this same page there is a story about pastor salanje if he was a Muslim you should again criticize Islam please Malawi no one perfect except one who believe in oneness of God and do good deeds

  21. Chilungamo says:

    Malawi should watch this with quriosity cause it’s how terrorism starts and it’s how extremism will easily be taught hence radicalization in the end we will have our nation faced with suicide bombings and other evils of Islamic terrorist terrorizing other section of the world

  22. shaibu says:

    good move

  23. chiwaka says:

    That’s what we have been looking forward to. Jealous people will say alot but that’s what being human
    .Kadziphanani ndi ma interest anuwo.

  24. Eye Witness says:

    This is how they fund terrorism ….Malawi beware. Ask Kenya. This is the begging of trouble.

  25. sharia law friendly ndichan shelk che wisiki ??

  26. Nivindele says:

    Welcome boko haram.

  27. Pulofesa Daniwudu Lake Chirwa says:

    As long as you are not funding terrorism

  28. CHAKWERA NDI TOMBOLOMBO says:

    JAZAAK-ALLAH!

Comments are closed.