The Jerusalem Interest-free Micro-Finance Fund Limited

The Jerusalem Interest-free Microfinance Fund Limited is run jointly by Jews and Muslims in London and Jerusalem to alleviate poverty in Jerusalem through training and provision of micro-finance (loans etc.) for people from any Jerusalem community wishing to start or expand small businesses who lack access to bank funding. The fund is compliant with both Islamic and Jewish law.

The Fund

The Jerusalem Interest-Free Micro-Finance Fund Limited (JIMF) is a UK company registered with the UK Charity Commission, no. 1127436 set up for “The relief of financial hardship amongst people in poor communities in Jerusalem by enabling them to establish and to grow their own businesses, through the provision of microfinance and technical assistance.”

The formal objectives of the Fund include the following:

• to alleviate poverty in the City of Jerusalem.
  
  
• to help to lay the foundations of community cohesion and peace building by increasing the economic and life chances of Muslims Jews and Christians within the City of Jerusalem.
  
  
• to issue loans without charge of interest to entrepreneurs who want to start up a business or to sustain or to expand an existing business or to individuals seeking loans to fund personal education or training or acquisition of tools or goods for business; priority being given to those who cannot otherwise secure funds but whom the Trust’s officers judge to be sound business propositions.
  
  
• to provide advice, information and signposting to potential and existing borrowers.
  
  
• to coordinate efforts with other micro-finance organisations providing funds in and around Jerusalem.