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Banque de Luxembourg, InFiNe.lu, BRS

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36 events, 53 speakers from around the world, 29 associate partners and sponsors


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Midi de la microfinance et de l’inclusion financière

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"Midis de la microfinance et de l'inclusion financière" are conferences that are held in Luxembourg and that are dedicated to the issues of and changes in the financial inclusion industry. Microfinance, or inclusive finance, encompasses a wide range of financial products and services including  savings, credit, insurance, remittances, payments, but also non-financial services set up to fight against the banking and financial exclusion of low income populations.

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37th Midi de la microfinance et de l'inclusion financière 

Islamic microfinance: A solution to expand financial inclusion? 

December 14, 2016 - 12.00 - 14.00

At the Banque de Luxembourg - 14, Boulevard Royal, Luxembourg


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The global Muslim population counts about 2 billion people but over 70% of them, living in Muslim majority countries as Indonesia, Malaysia, Pakistan, Bangladesh or Sudan, do not use formal financial services. Despite the expansion of institutions providing credit and loan services in developing countries, still only 0.5% of global microfinance institutions offer the services and products responding to Islamic financing principles (CGAP survey, 2008). In the context of an evident huge demand for the expansion of these financial products and services, the development of Islamic microfinance is still in its infancy. As this tool has the potential to serve currently unbanked, how can the Islamic microfinance sector reach the scale required?

Sharia-compliant financing is unique and essentially different from conventional microfinance. The sector seeks to provide an economic empowerment tool for poor or disadvantaged people based on Islamic financing methods that avoid interest due to the ethical value proposition of Islamic economics. The growth of the microfinance sector is also conditioned by the meteoric rise of Islamic banking, with regulatory and legal frameworks in many countries even outside the Muslim world encouraging the diversification of financial products. Indeed, capital markets, banking and the insurance sector has taken great interest in Islamic finance and has begun playing a catalytic role in providing innovative solutions. This in turn has led a number of the stakeholders, including policy makers and investors to look more in more depth at the potential of Islamic microfinance for social and financial returns.

The experts invited to the 37th Midi de la microfinance, Mohammed Kroessin, Head of Global Islamic Microfinance Unit, Islamic Relief Worldwide UK, and Fadoua Boudiba, Senior Investment Manager for MENA and Africa, Triodos, Netherlands will discuss about the development and the contribution of the Islamic microfinance to the financial inclusion. The speakers will discuss the main principles of the Islamic microfinance, as well as challenges it copes with today and the opportunities of its expansion. They’ll also explain how the sector deals with social performance standards, woman empowerment and economic development.

David Demulier, Senior project manager at a French public financial institution and a passionate about the Islamic and the Middle-East culture, will moderate the discussion.

Same event, coorganized with BRS, will take place also in Brussels at the Microfinance Lunchbreak on December 13, 2016 at the auditorium of KBC.

Watch the video of the 37th Midi!

The speakers of this Midi


Dr. Mohammed Kroessin, Head of Global Islamic Microfinance Unit, Islamic Relief Worldwide, UK

Mohammed Kroessin (MA, PhD) is a development economist with over 15 years experience of working with Islamic development and financial institutions. He has formerly worked for Chambers of Commerce in the UK, was Asst. CEO of Muslim Aid, a visiting research fellow at Aston Business School (UK), a research associate at the University of Birmingham (UK), where he has also completed his PhD on the political economy of Islamic finance.

Heading Islamic Relief’s Global Islamic Microfinance Unit, he is leading on the strategic transformation of a global microfinance portfolio spanning 12 countries towards sustainability and social investment grade. He currently serves on the board of two Islamic microfinance institutions in Bosnia and Kosovo and also has worked with and researched Islamic financial institutions in Africa, Asia, the Middle East and Europe.



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David Demulier, Senior project manager at a French public financial institution 

From April 2013 to August 2016, David was seconded from Caisse des Dépôts to the European Investment Bank to work as a business development officer for the MENA region. His main areas of expertise are SME financing, innovation, microfinance and social economy (civil society).

Strongly interested in Arabic culture and passionate about the Middle East, he starts to learn Arabic three years ago. He travelled regularly to the region where he has led various projects with structural impact to ensure not only the success but the sustainability of the projects.

He is eager to share ideas and business opportunities related to the Middle East and Maghreb which emphasis the participation of local actions.

David holds Masters’ degrees in law, corporate finance, management and Islamic finance.

Prior to joining Caisse des Dépôts, he worked in the private sector and held various positions in Eastern France in the fields of project finance, real estate and SME financing. In 2006, he worked as an expert investor in project finance with the Caisse des Dépôts. In 2008, David took charge of managing relations with competitiveness clusters, incubators and managers of investment funds (Board Member for seed, venture capital and private equity vehicles) at the Alsace Regional Directorate of the Caisse des Depots.

David is also currently a lecturer in Corporate Finance at Sciences Po, Strasbourg.




Fadoua Boudiba, Senior Investment Officer for MENA and Africa, Triodos, Netherlands

Previous to joining Triodos Bank, Fadoua was working with Incofin as a Senior Investment Manager.

Prior to that she was active as an Operation Analyst for Microfinance at IFC based in Egypt covering the entire MENA region. She worked on advisory's side handling technical assistance projects mainly on Risk Management, Housing microfinance, Products development, Islamic Microfinance research.

She also worked for PlaNet Finance in Morocco as an operations consultant. At this position, she led technical assistance missions mainly in rural microfinance NGOs where she has been responsible for market surveys, policies and procedures design and product development.

Before that she worked with Sanabel, the Arab network of Microfinance in Egypt where she wrote many papers about Islamic Microfinance. In addition, Fadoua has 4 years of experience in the banking sector as an Investment fund Manager for Citibank and as an operations fund analyst at Euroclear.


Conference programme

12.00 - Islamic microfinance: A solution to expand financial inclusion? -  Conference-debate with Mohammed Kroessin, Head of Global Islamic Microfinance Unit, Islamic Relief Worldwide (UK) and Fadoua Boudiba, Senior Investment officer for MENA and Africa, Triodos (Netherlands), moderated by David Demulier, Senior Project Manager at a French public financial institution

12.35 - Questions/ Answers with the audience

12.55 - Conclusion -  Gilles Franck, Vice-Chairman of ADA (Luxembourg)

13.00 - Lunch 

The conference will be held in English. 


The 37th Midi de la microfinance is organised by ADA, with the support of the Luxembourg Directorate for Development Cooperation and Humanitarian Affairs and InFiNe.lu, and in collaboration with the Banque de Luxembourg and BRS.

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The number of places is limited, please register before Friday, December 9, 2016, via the registration form on our website or by phone at +352 45 68 68 331.
The parking lot of Banque de Luxembourg is not publicly available; we recommend the use of public transport.



The “Midis de la microfinance” are jointly organised by ADA, the Banque de Luxembourg, and BRS. They are supported by the Luxembourg Directorate for Development Cooperation and Humanitarian Affairs and InFiNe.lu. The conferences are held during lunch breaks, between 12 and 2 pm. Their agenda includes the presentation by an inclusive-finance expert of a study or a practical case, which is followed by a Question and Answer session and buffet lunch.


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