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.
IIFC Group was registered in November of 2009 under the laws of the Islamic Republic of Afghanistan with the following mandates:
- To provide quality technical assistance to the IIFCs in Afghanistan
- To build the capacity of the staff working at the IIFCs
- To do fundraising for the IIFCs
- To regulate and supervise the operations of the IIFCs
- 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.