UK fintech firm AGAM International has partnered with microfinance institution SBK Foundation to launch the first Shariah compliant digital microfinance platform in Bangladesh, with a target of providing financial access to unbanked communities, including ready-made garment factory workers, small business owners and gig-economy workers, according to an official post on LinkedIn.
The Shariah compliant financing product is designed to help individuals and small businesses that need access to financial resources but may not have the collateral or credit history required for traditional loans.