Afghan Islamic Investment and Financial Cooperatives (IIFCs) Distributed Microfinance Loans Worth $7.4m in Last Third of 2010

World Council of Credit Unions (WOCCU) revealed that between September and December 2010, 30 Islamic investment and financial cooperatives (IIFCs) in Afghanistan distributed loans worth USD 7.4 million to approximately 8,000 farmers and other small and medium-scale business owners, increasing cooperative membership by 10 %.
WOCCU began developing IIFCs, Afghan-owned credit unions, in 2004.