Shariah-compliant services of APS Islamic Microfinance

My Magazine 2022/05
3 min
The corporate goal of APS Islamic Microfinance Co. Ltd (APS IMF) is to offer a diversified mix of financial products and services to individuals, Micro, Small and Medium Enterprises focusing on middle- and low-income earners within the lower half of the economic pyramid. APS IMF promotes gender empowerment and gives significant consideration to supporting women and youth projects.

The Central Bank of The Gambia licenses APS Islamic Microfinance Co. Ltd under the NBFI Act, 2006, to operate as an Islamic Microfinance Institution in The Gambia. The company started full-scale operations on the 1st of December 2021, offering financial Services to Gambians and residents of The Gambia.

APS IMF offers all its clients an equitable finance system that is the bedrock of Islamic finance principles, products and services, promoting transparency, fairness and risk-sharing. Being a Shariah-compliant Financial Service provider ensures all their products are fully compliant with Islamic Finance principles and best standard practices. This business model is not only limited to Muslims but inclusive to all.

Their corporate philosophy is anchored on three thematic objectives:

  • Islamic Financing – to operate a successful Islamic Microfinance business model that offers innovation, investment accounts, business accounts and financing contracts to boost real economic activities in the country.
  • Social Financing - to provide social interventions in the form of Zakat Management, Waqf Fund, Charity, Donations and Qard financing to promote the welfare of society.
  • Shariah Compliance – to promote consistent utilisation of Shariah-compliant financial products and services in the population's daily lives.

APS IMF has a wide range of services available. Bank accounts are tailored for individuals, small business proprietors (Bana-bana account) and Business owners. There are many possibilities of savings accounts dedicated to going confident through life turning points – from personal savings accounts, child savings accounts, Hajj and Umra savings accounts, and Social event savings accounts. 

Every new step in life is hard to do on your own. APS IMF offers Shariah-compliant Financing products to help you on the way. Murabaha-Working capital finance is appropriate for new business establishments. Micro housing is perfect for new property owners and is helping to reduce prices for the housing in the market as a part of social responsibility. APS also offers Fixed Asset finance, Personal financing and joint venture to reduce the investment risk. 

They are also payout partners to international money transfer operators such as Diamano, Western Union, Wave and Orange money and have the Jotnasi remittance as a local money transfer. APS IMF is the sole payout agent for APS MT, and they offer bank deposits for APS MT customers who wish to deposit directly into their accounts with APS IMF.

They are very keen on working on new services which make money flow easier. Subscribe to our magazine and be the first one to know more about the APS Wallet.

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