1. Finance – Religious aspects – Islam 2. Economic – Religious aspects – Islam This book addresses several issues in developing the Islamic microfinance institutions. The most challenging issues for microfinance institutions is between exclusion and inclusion. Costumers are excluded from the main mainstream financial institutions but they are included in the Islamic microfinance institutions. Islamic microfinance institutions have potential to grow due to their ability to bring financial acess to an underserved market and due to the growing size of this market, the world’s poorest. However, Islamic microfinance institutions might fail to serve the targeted group. These failures might be due to the following reasons: many Islamic microfinance institutions never reach either the minimal scale or the efficiency level necessary to cover cost; many Islamic microfinance institutions face non-supportive policy frameworks and daunting physical, social and economic challenges; some Islamic microfinance institutions fail to manage their funds adequately enough to meet future cash needs and as a result faced liquidity problems; and some Islamic microfinance institutions had neither the financial management systems nor the skills required to run a successful operation.