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.

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Wazil
5 years ago

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

George phiri
George phiri
5 years ago

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… Read more »

chipembezo chenicheni
chipembezo chenicheni
5 years ago

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.

BUFFALO PAINT
BUFFALO PAINT
5 years ago

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

mufiti moctada alsada
mufiti moctada alsada
5 years ago

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

Real Faith
Real Faith
5 years ago

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.

arkmm
5 years ago

@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… Read more »

Chingaipe
Chingaipe
5 years ago

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…

Bigman Yusuf Mjomba (Ayuzzey)
Bigman Yusuf Mjomba (Ayuzzey)
5 years ago

MashaAllah, thats what we need !!!

Welcome development !!!

nikisi
5 years ago

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?

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