Download or read book Faith based Microfinance An Alternative Tool of Poverty Alleviation written by Najmul Hoda and published by GRIN Verlag. This book was released on 2018-07-26 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doctoral Thesis / Dissertation from the year 2013 in the subject Sociology - Work, Profession, Education, Organisation, grade: A, , course: PhD, language: English, abstract: The poor, like others, too need financial products and services in order to build assets, manage consumption and mitigate risks. Microfinance, in recent times, has emerged as a powerful tool to provide access to some financial services to the poor. For decades, poverty alleviation has topped the International development agenda. United Nations Millennium Goals state that by 2015 the number of people living in extreme poverty should be half of what it was in 2000. Microfinance addresses the twin goals of financial inclusion and poverty alleviation in a way that builds self-esteem in the individual and self-sufficiency in the institution providing the financial services. Different models have emerged in microfinance delivery based on their clientele, focus area, interest rate, savings linkages, collateral, coverage and organizational/legal structure. With all the successes of the existing microfinance models, the herculean task of poverty alleviation still leaves enough space for innovative models. This study explores the potential of faith-based microfinance in complimenting the efforts of poverty alleviation and also overcoming the weaknesses in the existing models. Faith-based microfinance operate on distinct principles. The purpose of this study is to focus on the functioning of the faith based microfinance and to explore its role as an alternative tool of poverty alleviation. In order to get a meaningful insight regarding the impact of faith based microfinance on the lives of the beneficiaries, it is necessary that a comparison is made to the mainstream microfinance on commonly accepted parameters of poverty alleviation.

Download or read book A Microcredit Alternative in South Asia written by Shahrukh Rafi Khan and published by Routledge. This book was released on 2018-03-28 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Microcredit took the development world by storm as a tool for poverty alleviation in the 1980s. After being hailed as a panacea, a few decades on it started being forcefully criticised based on its practice. This book explores Akhuwat (literally brotherhood), a rapidly growing Pakistani NGO formed in 2001, which addresses the shortcomings of conventional microfinance. Its vision is of a society built on empathy and social solidarity and its mission is that of creating self-sufficiency among the entrepreneurial poor. This book examines whether Akhuwat fulfils its promises of not pushing loans or encouraging clients to get on a debt treadmill and helping them to avoid high debt burdens by charging no interest and easing repayment terms. Conventional microcredit organizations are criticised for losing sight of the original mission of poverty alleviation by engaging in empire building and Akhuwat’s goal is to avoid this by embracing an alternative strategy of scaling up. Finally, this book also analyses Akhuwat’s approach as being gender sensitive and embracing all religions, castes and ethnicities. Based on fieldwork designed to assess if Akhuwat is the microcredit alternative it claims to be, this book will be of interest to scholars of poverty and development studies in general and microcredit in particular.

Download or read book Client Satisfaction in Faith Based Microfinance written by Najmul Hoda and published by . This book was released on 2015 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main purpose of this paper is to compare the client satisfaction of faith-based and mainstream microfinance institutions. The level of satisfaction is considered on eight independent factors identified through literature survey and experts' opinion. The data-set comprised of a total of 300 microfinance clients - 150 from faith-based microfinance institutions and 150 from the mainstream microfinance institutions. The data was collected through a structured questionnaire comprising of agreement disagreement on 5-point Likert scale. Independent sample t-test was employed to determine if any significant difference exists in the satisfaction level of clients in the two models of microfinance. The results indicate that there is no significant difference among the two groups on the variables reasonability of interest rates (p=0.49), loan procedure (p=0.13), technical assistance (p = 0.822), and branch location (p = 0.36). However, there are significant differences in the two groups on the variables clients repayment policy (p=0.0001), timely availability of loan (p=0.0001), non-discrimination (p = 0.0001) and supportive staff (p = 0.005). The mean values suggest that the clients of faith-based microfinance institutions are more satisfied on these variables. The recent reports on microfinance suggest that the mainstream microfinance programs and policies that were developed for delivering the benefits of financial inclusion and poverty alleviation neglected the client perspective. The results of this study should be of significance to policy makers who are considering various alternatives to attain the goals of poverty alleviation stipulated in the Millennium Development Goals. The paper contributes to the limited empirical studies available on client satisfaction as well as the faith-based model of microfinance.

Download or read book Inspired Finance written by M. Looft and published by Springer. This book was released on 2014-10-02 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: By tracing an arc of thought and action from both historical and religious figures up through modern microfinance practitioners, Looft illustrates the many ways religious inspiration continues to remain at the crux of international economic development–while raising compelling questions around God and Mammon working together to help the poor.

Download or read book Faith Based Microfinance in India written by Najmul Hoda and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Faith-based model of microfinance operates on distinct principles deriving their core values from some religious faith or a tradition. The purpose of this study is to understand the functioning and standard operating procedures of the faith-based microfinance institutions, more specifically to study the influence of faith on various aspects of the institution and the roles these institutions play in the area of poverty alleviation. Three cases of Indian faith-based microfinance institutions were selected from three major religious faiths in India, namely, Hinduism, Islam and Christianity. These cases have been analysed individually and comparatively to determine their outreach, operating principles, influence of faith in their operations and their financial performance.

Download or read book Relative Effectiveness of Alternative Microfinance driven Poverty Alleviation Programs in Bangladesh written by Dr. Tamgid Ahmed Chowdhury and published by Cambridge Scholars Publishing. This book was released on 2014-06-26 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: In general, the effectiveness of microfinance-driven poverty-alleviation programs run by Government Organizations (GOs) and Non-Government Organizations (NGOs) in developing countries, such as Bangladesh, is assessed by repayment rates, the number of beneficiaries, the area coverage, the amount of loans disbursed, the cost of operations, profitability, and the financial sustainability of the projects. This study argues that these methods are quite restrictive since none of them reflect the perceptions of poor people concerning the effectiveness of such projects. Development agencies such as GOs and NGOs have never been compared on the basis of service delivery effectiveness (a process-based comparison); nor have they ever been compared on the basis of their relative contribution to raising the living standards of the poor (an outcome-based comparison). Both types of comparison are crucial to poverty reduction. The main reason behind the absence of such comparisons is the unavailability of the appropriate parameters that could be used for such analysis. For the process-based comparison, this study develops and validates a two-dimensional multi-item service delivery effectiveness scale through construct, convergent, discriminant and nomological validity. The scale captures different aspects of effectiveness in the delivery of services. These aspects are termed the ‘credibility dimension’ and the ‘focus towards beneficiaries dimension’ of service delivery in poverty-alleviation programs. For the output-based comparison, this study also develops and validates a ‘multidimensional poverty model’ to compare the effectiveness of GOs and NGOs in contributing to the economic, social, political, and cultural elements in the lives of the poor. The methodology is based on 930 samples collected from 12 districts and 107 randomly chosen villages in Bangladesh during September–December 2009.

Download or read book Islamic Microfinance written by Mehreen Fatima and published by LAP Lambert Academic Publishing. This book was released on 2013 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is based on the research work which is conducted to find out the impact of Islamic Microfinance on poverty. For this purpose, the clients of Islamic Microfinance Institutions, working in Pakistan, were taken as respondents. Pre and Post project evaluation approach is adopted while conducting the research and a comparison is made between the data of 2009 and 2012. Islamic Microfinance is an emerging industry in Pakistan. It has vast potential to merge the mission of microfinance to reach the poor and give them financial access with the Islamic principle of concern for the miserable. This book is useful for the Islamic Microfinance Institutions working in Pakistan or in any other country in the world in order to make better strategies for Islamic Microfinance. Moreover, this book will be helpful and an informative read for the researchers working in the field of Islamic Microfinance.

Download or read book Microfinance as a Policy Tool for Poverty Alleviation written by Abimbola Folake Fatukasi. and published by . This book was released on 2007 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Poverty written by Mohamed Salah El-Komi and published by . This book was released on 2010 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis addresses poverty from different perspectives. One perspective is alleviating poverty through microfinance. Another perspective is analyzing its impacts on education. Microfinance has been recognized as an important tool to alleviate poverty. However, a great proportion of the poor is not able to utilize it because the current microfinance products contradict their religious beliefs. Muslims represent one third of the poor in the world. However, many of them avoid microfinance because of interest. This thesis develops and tests, experimentally, two types of microfinance products that are Islamic compliant. The first type of microfinance products is equity based. The second type is based on RoSCAs (Rotating Savings and Credit Associations). Both types prove to be efficient when compared to the current interest-based microfinance products. The thesis also uses observational data to test for the impact of contextual poverty on scholastic achievement. Micro panel data from Texas schools is used to analyze poverty influences that school students are exposed to in different domains; the neighborhood domain and the school one. We find strong evidence of neighborhood poverty effects on math and reading test scores for 5-8 graders.

Download or read book Microfinance A Tool in Poverty Alleviation written by Lotte Lohmann Mikkelsen and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Islamic Microfinance written by Hussain Mohi ud Din Qadri and published by Walter de Gruyter GmbH & Co KG. This book was released on 2024-05-20 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic microfinance is one of the most important sectors of Islamic social finance, which plays a very important role in curbing poverty and improving the standard of living, per capita income, employment level as well as achieving Maqasid al-Shariah, profitability and sustainability. This role of Islamic microfinance has become more crucial in the pandemic period. It has been clearly witnessed in developing countries such as Pakistan and Bangladesh, how Islamic microfinance institutions helped deprived and affected communities during the pandemic. Another important development during the pandemic was the introduction of blended models of Islamic microfinance such as waqf-based Islamic microfinance, a zakat-based model and the combination of Islamic commercial and social finance. Islamic microfinance institutions also aim to harness the power of digitalization and fintech, but they need to consider the necessary success factors to realize and gain the real benefits of technology. There are some major challenges related to regulations, management issues, lack of skilled human resources, a wide digital divide and low level of financial literacy in developing countries. These challenges need to be addressed to ensure stability, steady growth and sustainability in the sector. This book is a compendium on Islamic microfinance, including case studies from seven jurisdictions and prospects for the sector. The book will be a major contribution to the literature of Islamic economics and finance and a guide of equal importance for students, academics, institutions, regulators, fintechs, policy makers and the general public.

Download or read book Microfinance and Poverty Reduction written by Susan Johnson and published by Oxfam. This book was released on 1997 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book emphasizes the importance of studying the local context, and then considering the macroeconomic factors which may be operating upon the economy of a particular country. Five extended case studies, in the Gambia, Ecuador, Mexico, Pakistan, and the UK are examined with reference to further aspects of sustainability and impact assessment.

Download or read book COVID 19 and Islamic Social Finance written by M. Kabir Hassan and published by Routledge. This book was released on 2021-03-08 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is said that the COVID-19 pandemic has turned back the poverty clock. As such, there is a need to have social mechanisms put in place to provide relief to those who are affected in this regard. Islamic social finance consists of tools and institutions that could be used to alleviate poverty. This book explores the impact of COVID-19 on Islamic finance to better understand the effectiveness of Islamic social finance in helping those who have been affected by poverty overnight due to the halt in all major economic activities in the context of the pandemic. Since the struggle against poverty in each country will be different, the book attempts to shed light on the experiences of different countries by presenting successful models of Islamic social finance. The book first looks at poverty and COVID-19 before delving into the role of Islamic social financial institutions and how they have risen against COVID-19. The book concludes by examining the impact of COVID-19 on Islamic microfinance. This book is the first of its kind on the subject of COVID-19, and it intends to bridge the gap in the literature.

Download or read book Poverty Reduction Policies and Practices in Developing Asia written by Almas Heshmati and published by Springer. This book was released on 2015-03-31 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at the major policy challenges facing developing Asia and how the region sustains rapid economic growth to reduce multidimensional poverty through socially inclusive and environmentally sustainable measures. Asia is facing many challenges arising from population growth, rapid urbanization, provision of services, climate change and the need to redress declining growth after the global financial crisis. This book examines poverty and related issues and aims to advance the development of new tools and measurement of multidimensional poverty and poverty reduction policy analysis. The book covers a wide range of issues, including determinants and causes of poverty and its changes; consequences and impacts of poverty on human capital formation, growth and consumption; assessment of poverty strategies and policies; the role of government, NGOs and other institutions in poverty reduction; rural-urban migration and poverty; vulnerability to poverty; breakdown of poverty into chronic and transitory components; and a comparative study on poverty issues in Asia and other regions. The book will appeal to all those interested in economic development, resources, policies and economic welfare and growth.

Download or read book Why Doesn t Microfinance Work written by Milford Bateman and published by Zed Books Ltd.. This book was released on 2010-06-10 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since its emergence in the 1970s, microfinance has risen to become one of the most high-profile policies to address poverty in developing and transition countries. It is beloved of rock stars, movie stars, royalty, high-profile politicians and ‘troubleshooting’ economists. In this provocative and controversial analysis, Milford Bateman reveals that microfinance doesn’t actually work. In fact, the case for it has been largely built on hype, on egregious half-truths and – latterly – on the Wall Street-style greed of those promoting and working in microfinance. Using a multitude of case studies, from India to Cambodia, Bolivia to Uganda, Serbia to Mexico, Bateman demonstrates that microfi nance actually constitutes a major barrier to sustainable economic and social development, and thus also to sustainable poverty reduction. As developing and transition countries attempt to repair the devastation wrought by the global financial crisis, Why Doesn’t Microfinance Work? argues forcefully that the role of microfinance in development policy urgently needs to be reconsidered.

Download or read book Microfinance Handbook written by Joanna Ledgerwood and published by World Bank Publications. This book was released on 1998-12-01 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of the 'Microfinance Handbook' is to bring together in a single source guiding principles and tools that will promote sustainable microfinance and create viable institutions.

Download or read book Transforming Microfinance Institutions written by Joanna Ledgerwood and published by World Bank Publications. This book was released on 2006-08-30 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to a clear need by low-income people to gain access to the full range of financial services including savings, a growing number of microfinance NGOs are seeking guidelines to transform from credit-focused microfinance organizations to regulated deposit-taking financial intermediaries. In response to this trend, this book presents a practical 'how-to' manual for MFIs to develop the capacity to become licensed and regulated to mobilize deposits from the public. 'Transforming Microfinance Institutions' provides guidelines for regulators to license and regulate microfinance providers, and for transforming MFIs to meet the demands of two major new stakeholders regulators and shareholders. As such, it focuses on developing the capacity of NGO MFIs to mobilize and intermediate voluntary savings. Drawing from worldwide experience, it outlines how to manage the transformation process and address major strategic and operational issues inherent in transformation including competitive positioning, business planning, accessing capital and shareholders, and how to 'transform' the MFI's human resources, financial management, MIS, internal controls, and branch operations. Case studies then provide examples of developing a new regulatory tier for microfinance, and how a Ugandan NGO transformed to become a licensed financial intermediary. This book will be invaluable to regulators and microfinance NGOs contemplating institutional transformation and will be of tremendous use to donors and technical support agencies supporting MFIs in their transformation.