July 15, 2007
Letters
The Aga Khan and Islam
To the Editor:
Re “Do Business and Islam Mix? Ask Him” July 8 about the work of the Aga Khan:
For many countries, his efforts have made a big difference — for example, in microfinance. Our nonprofit institute is developing a microfinance model in which the microbank makes an equity investment (not a loan) and shares in the profit or loss of the microbusiness. While our model will be based on Islamic principles, which encourage profit-and-loss sharing, it will be nondenominational. We believe this method will make our model complementary with microfinance projects of the Aga Khan Development Network. Blake Goud
Portland, Ore., July 9
The writer is executive director of the Institute of Halal Investing.
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To the Editor:
The article was a long-overdue look at another face of Islam, 180 degrees removed from the extreme version we read about every day. The Aga Khan is fighting poverty with unorthodox but effective weapons, combining charity with a built-in mechanism that ensures efficiency: the idea that the venture be self-sustaining in the long haul.
Our strife-torn world needs pragmatic kindness, and I hope the Aga Khan gets an opportunity to assist in the postwar Iraq. Zaheer Jaffery
West Windsor, N.J., July 9
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