Islamic Investment and Finance Cooperatives Group (IIFC Group) is a national association of the network of the Cooperatives in Afghanistan that are referred to as Islamic Investment and Finance Cooperatives or IIFCs.
What We Do?
The IIFC Group delivers technical, financial, and advocacy support to its network of member institutions so that those institutions can deliver the best possible financial services to the largest possible number of Afghanistan’s citizens.
Our mission is to expand and strengthen Afghanistan’s network of IIFCs, so that those institutions can deliver effective, sustainable, Islamic-compliant financial services to the citizens of Afghanistan.
The IIFC Group looks forward to an Afghanistan where all citizens have access to excellent, Islamic-compliant financial services to help them achieve economically healthy lives and accordance with their deepest values. We envision a nationwide network of sustainable institutions acting as financial partners for all Afghans to build better lives for their families, their communities and the country.
The IIFC Group operates under a set of core values which serve as guiding principles for the entire network – the central office and all member institutions:
1 - Afghanization
2 - Sustainability
3 - Best Practices
4 - Transparency
5 - Islamic Compliance
6 - Nondiscrimination and democracy
7 - Concern for the Community
8 - Personal Integrity
IIFC Group was registered in November of 2009 under the laws of the Islamic Republic of Afghanistan with the following mandates:
1- To provide quality technical assistance to the IIFCs in Afghanistan
2- To build the capacity of the staff working at the IIFCs
3- To do fundraising for the IIFCs
4- To regulate and supervise the operations of the IIFCs
5- To launch advocacy and conduct lobbying on behalf of the IIFCs
IIFC Group’s headquarter is located in Kabul and has 5 sub-offices in the provinces of Nangrahar, Balkh, Helmand, Kabul and Kandahar.
IIFC Group is lead by a board of nine members that include economic scholars, representatives of the private sector, international advisors, religious scholars and regional Shura representatives. IIFC Group’s current Board of Supervisors include a member from Parliament, Ministry of Economy and Ministry of Foreign Affairs of the Islamic Republic of Afghanistan.
IIFC Group is part of the international community of Credit Unions and was honored with outstanding political action award of 2011 in Washington D.C. by Credit Union Times.