The International Islamic Law and Finance Centre at SMU hosted the ‘Reducing Poverty through Islamic Micro Financing: The Indonesian BMT Model’ seminar on Friday, 25 October. The Baitul Maal wa Tamwil (BMT) plans to make Singapore its fund management hub which it is hoped will raise S$20 million annually. These funds, channelled through the Islamic micro financing model, will aid 200,000 impoverished Indonesian villagers to start up small businesses and allow provisions of basic healthcare and education.