Download or read book Role of Islamic Microfinance in Poverty Alleviation in Pakistan written by Muhammad Naveed Aslam and published by . This book was released on 2019 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: After 2008 world economic crises, banks and other financial institutes move towards Islamic financing not only in Muslims countries but also in non-Muslim countries of the world. In view of this, some micro financial institutions also introduce Islamic micro financing products in Pakistan. The present study was conducted to analyze the role of Islamic microfinance to alleviate poverty in Pakistan its impacts, people satisfaction level and assess the future of it in Pakistan. An Empirical approach has been adopted due to lack of knowledge to clients about products, technical terms, lack of time, and we come to know the changing improvement in the eyes of those people who directly involve in this system. Questionnaire was used as a tool for data collection. The qualitative data was quantified and chi-square test was applied to test the association of attributes by 5% level of significance. Our analysis concluded that Islamic microfinance playing an important role to improve the living standard, per capita income, awareness level (Educational level), ethical values, profitability, sustainability, infrastructure position, employment level in the society, helpful to control the inflation and unequal distribution of wealth. People are more interested due to religious prospective and prohibition of riba in Islam as well as in Christianity but there should be proper regularity authority to control over it in order to get fruitful results through an implementable model.
Download or read book The Role of Islamic Microfinance in Poverty Alleviation Based on the Perceptions of the Key Players in the Market written by Kausar Abbas and published by . This book was released on 2014 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study raises the issues and challenges concerning the recognition of Islamic microfinance by the Islamic banks of Pakistan. This is based on perceptions of the key players in the market. The study gathered relevant information through conducting field surveys by employing convenience sampling technique, the most common of all sampling techniques. Two questionnaires were designed for the surveys. One questionnaire was administered to survey 270 micro-entrepreneurs and petty traders in three major cities of Pakistan including Rawalpindi, Lahore and Peshawar. Another survey deals with the perceptions of Islamic bankers and Shari"ah scholars. 100 relevant respondents from middle and top managements related to Islamic banks were surveyed from five full-fledged Islamic banks of Pakistan. Three of the sample banks were selected from Islamabad and two banks from Lahore. The findings of the study are decomposed into two parts. Part 1 reveals the micro-entrepreneurs and petty traders" perspective, while part II focuses on the perspectives of Islamic bankers, regulators and Shari"ah scholars. In general, the results indicate that presently, Islamic banking is not addressing the financing needs particularly of those micro-entrepreneurs who generally have preference for Shari"ah-compliant finance. Islamic microfinance is constrained by lack of knowledge, experience and professionalism of supporting staff. Therefore, the majority of the Islamic bankers are not satisfied with the present structure for the implementation of Islamic microfinance. However, the Islamic bankers agreed that Islamic banks should offer Islamic microfinance and treat it separately from other products. Generally, both top and middle management agreed that Murabahah, Dimishing musharakah and Ijarah are most applicable models for Islamic microfinance schemes to the potential micro-entrepreneurs. On the other hand, micro-entrepreneurs and petty traders view Islamic microfinance as a preferred choice over traditional interest-based loans. Although, Islamic microfinance is a new concept, majority of respondents have basic understanding of this concept based on their Islamic knowledge and associations with social network. This study also examined the applicability of Theory of Reasoned Action (TRA) particularly in the context of Islamic microfinance among micro-entrepreneurs and petty traders of Pakistan. However, micro-entrepreneurs and petty traders expressed their dissatisfaction to the management of the Islamic banks. Moreover, the most consistent answer with major concerns from the respondents is that Islamic banks are same as conventional banks in dealings with clients. Therefore the findings could provide insights to Islamic banks in diversifying their products by offering Islamic microfinance to the low-income people but with proper guidelines and policies.
Download or read book Financial Inclusion and Poverty Alleviation written by Muhamed Zulkhibri and published by Springer. This book was released on 2017-11-30 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the relationships between financial inclusion, poverty and inclusive development from Islamic perspectives. Financial inclusion has become an important global agenda and priority for policymakers and regulators in many Muslim countries for sustainable long-term economic growth. It has also become an integral part of many development institutions and multilateral development banks in efforts to promote inclusive growth. Many studies in economic development and poverty reduction suggest that financial inclusion matters. Financial inclusion, within the broader context of inclusive development, is viewed as an important means to tackle poverty and inequality and to address the sustainable development goals (SDGs). This book contributes to the literature on these topics and will be of interest to researchers and academics interested in Islamic finance and financial inclusion.
Download or read book The role of Islamic microfinance in poverty alleviation and environmental awareness in Pasuruan East Java Indonesia written by Effendi, Jaenal and published by Universitätsverlag Göttingen. This book was released on 2013-06-11 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: Microfinance is known to be one of the best tools to combat poverty, and believed to have a positive effect on environmental awareness. This book analyses the impacts of Islamic microfinance on both poverty alleviation and environmental awareness and the variation in its effects between different geographical conditions, as well as how it compares in these respects with conventional microfinance. Islamic microfinance institutions (MFIs) had a more significant impact on poverty alleviation than conventional MFIs, but a low effect on awareness of specific environmental issues. Islamic MFIs were also successful in combating poverty regardless of regional differences, but similarly ineffective in contributing to environmental awareness.
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 174 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 Microcredit and Poverty Alleviation written by Tazul Islam and published by Ashgate Publishing, Ltd.. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: With a view to increased poverty alleviation, Tazul Islam examines the real extent to which the Grameen Bank's credit-alone policy has been successful in securing the Bank's financial sustainability; its practical role in alleviating poverty and its actual impact on the productivity of its clients.
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 Role of Microfinance in Poverty Alleviation written by Mohammed Obaidullah and published by . This book was released on 2008 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Role of Islamic Microfinance in Poverty Alleviation and Environmental Awareness in Pasuruan East Java Indonesia A Comparative Study written by Jaenal Effendi and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Islamic Microfinance Model To Reduce Poverty written by Muhammad Naveed Aslam and published by . This book was released on 2016 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most essential element for any Government is to become a welfare state and the constitution of Pakistan gives great importance to promote the social welfare projects in order to alleviate the poverty. The article 37 and 38 of constitution 1973, is the mother source of socio-economic and people welfare policies, explains that state should provide the basic necessities of life like food, clothing, shelter, education, medical relief, suitable job opportunities and reduce the disparities in the sources of earnings. In view of this, Pakistan government introduced different development programmes, schemes and plans for the provision of basic facilities to poor's. According to the State Bank report 2011, Microfinance has failed to make a major breakthrough in Pakistan in order to become a dynamic participant. The poverty rate in the country, increased from 23.9 to 37.5 percent according to planning Commission (2012). It was also reported that about sixty million people was living below absolute poverty line. The recent disaster of Thar and Chulsitan own speaks loud on the failure of Govt. development programmes and microfinance. As interest is prohibited as per belief of majority of the people, any interest based scheme is not suitable due to being exploitation. Now, there is a great need to bring a religiously acceptable model that will change baggers to donator hand. Islamic finance takes an impressive leap after ongoing economic and financial crises at the national and global levels and is increasingly gaining ground. The present study suggests a practical Islamic microfinance model that can be considered to be more fruitful and productive to alleviate poverty effectively; it explains seven years might be sufficient to reduce poverty from the society at large.
Download or read book Enhancing Financial Inclusion through Islamic Finance Volume II written by Abdelrahman Elzahi Saaid Ali and published by Springer Nature. This book was released on 2020-07-01 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the second of two volumes which highlight the concept of financial inclusion from the Islamic perspective. An important element of the Sustainable Development Goals (SDGs), financial inclusion has been given significant prominence in reform and development agendas proposed by the United Nations and G-20. The significance of Islamic financial inclusion goes beyond improved access to finance to encompass enhanced access to savings and risk mitigation products, as well as social inclusion that allows individuals and companies to engage more actively in the real economy. It represents one of the important drivers of economic growth. This volume explores the financial risks associated with lending to low-income groups due to high poverty levels and the lack of collateralization mechanisms. The first book on the market to provide empirical evidence of Islamic microfinance, deposit insurance and micro-entrepreneurship through the analysis of models and country case studies, this edited collection will be of value to those researching development finance, financial inclusion and Islamic finance.
Download or read book Islamic based Microfinance and Poverty Alleviation written by Syed Salman Hassan and published by . This book was released on 2014 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Growth and Poverty written by Nanak Kakwani and published by Edward Elgar Publishing. This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This single-volume compilation offers an insight to some of the most important questions economists and policymakers have been grappling over. A substantial amount of research has been carried out using cross-country regression models, resulting in a better and improved understanding of the linkage between economic growth and poverty reduction. The literature on cross-country regressions, however, has led to conflicting conclusions. Based on a selection of influential papers, and prefaced by a critical review of the literature, this collection covers an array of relevant topics and thought-provoking material. Scholars who envision a world free of extreme poverty will find this volume particularly valuable.
Download or read book Impact of COVID 19 on Islamic Microfinance Institutions IMFIs and Poverty in Pakistan written by Muhammad Naveed Aslam and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The epidemic of COVID-19 has been emerging as a threat not only to a global health system and draining of economic resources but it is also contributing to increase the level of poverty with a fear and chaos that prevent us from making the right decision at right time. The COVID-19 has exponentially spread across the world and led to 29 million cases with 933 thousands deaths till September 2020 around the globe. Shari'ah compliant microfinance solution for poverty eradication is considered as one of the acceptable and suitable way-outs to alleviate poverty but now it is facing numerous types of challenges like lack of capital and funding, sustainability, high cost of funds, innovation and diversification of products, availability of human resource with Islamic financial expertise etc. The objective of the study is to find out the impact of COVID-19 on Islamic Microfinance Institutions (IMFIs) in terms of income, risk and portfolio. Further, to find out the impact of regulatory steps toward sustainability of IMFIs, we have collected data through self-administrated questionnaires consisting of seven parts. Descriptive and frequency analysis have been used to describe the results. Results depict that the portfolio and income of the IMFIs have decreased. Further, operational cost and productivity of the employees have also decreased. Therefore, industry demands relief package from regulators for growth and sustainability to save the Shari'ah compliant poverty eradication solutions. This might be helpful to compensate the losses of deferment and diversification of products. The findings of the study hope to contribute toward sustainability of IMFI's, which have been damaged due to COVID-19.
Download or read book Islamic Microfinance Development written by Mohammed Obaidullah and published by . This book was released on 2008 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 242 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 Islamic Microfinance A Tool for Poverty Alleviation written by Md. Mizanur Rahman and published by . This book was released on 2011-11 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
