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 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 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 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 Handbook of Research on Islamic Social Finance and Economic Recovery After a Global Health Crisis written by Kassim, Salina and published by IGI Global. This book was released on 2021-04-30 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social financial reporting as an economic tool presents the firm as a socio-economic unit with empowered social capital to enable a sustainable economic solution, particularly in response to the COVID-19 pandemic. Islamic social finance (ISF) is a corporate social responsibility initiative in the form of humanitarian and socio-development programs by Islamic financial institutions and Shariah-compliant corporations. ISF is applied through various methods and tools that structure based on Islamic Sharia Law. For example, Islamic social finance tools would either be philanthropic, involving activities such as zakat (obligatory alms-giving), Sadaqah (voluntary alms-giving/charity), and waqf (endowment) or ta’awun (cooperation-based activities), which include Qardh al-hasan (benevolent loan) and kafala (guarantee). Thus, Islamic social finance instruments play a vital role in alleviating poverty and addressing socio-economic issues such as illiteracy, unemployment, malnutrition, and health issues. As such, integrated ISF reporting can empower sustainable economic development and lead to recovery. The Handbook of Research on Islamic Social Finance and Economic Recovery After a Global Health Crisis provides insights on the role of Islamic social finance in supporting and facilitating economic recovery in the post-COVID-19 era as well as reducing poverty and addressing the challenges of socio-economic problems such as education, unemployment, malnutrition, and health issues. This book is ideally intended for practitioners, stakeholders, researchers, academicians, and students who are interested in improving their understanding on the role of Islamic social finance theoretically and empirically in solving the issue of poverty and developing excellent funds management to achieve economic empowerment with better environmental sustainability.
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 Takaful and Islamic Cooperative Finance written by S. Nazim Ali and published by Edward Elgar Publishing. This book was released on 2016-07-27 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic finance distinguishes itself from conventional finance with its strong emphasis on the moral consequences of financial transactions; prohibiting interest, excessive uncertainty, and finance of harmful business. When it comes to risk mitigation, it is unique in its risk sharing approach.
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 Poverty Alleviation and Conventional MFIs written by Mohammad Ali Ashraf and published by . This book was released on 2019 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a rigorous empirical study of various aspects of poverty alleviation in rural Bangladesh. The themes include the trend and structure of rural poverty and the role of microfinance in alleviating rural poverty through participation of the rural poor in NGOs and microfinance institutions (MFIs). It also includes different challenges of participation of rural poor women in NGO-MFIs. In probing those issues, this book employs a different approach of investigation. In comparison with other poverty studies, this book can claim a number of distinct features.First, this book probes the participation behavior of rural poor women who face different socioeconomic, cultural and psycho-attitudinal challenges to participate in NGO-MFIs which ultimately prevented the attainment of the prime objective of poverty alleviation in Bangladesh. In analyzing those issues, this book uses a social psychological theory named the theory of planned behavior (TPB) as a theoretical model upon which the research framework was grounded upon.Second, unlike other studies which are based on relatively small and unrepresentative samples, this book is based on a nationally representative large-scale survey.Third, even though it employs a cross-sectional survey, the study explored in this book attempts to infuse an element of dynamics by employing information on both current and initial condition of resources of households being defined as the resource-base a household had inherited at the time it was formed. This type of data-set helped analyze the dynamics of resource adequacy of the participants in NGO-MFIs which yielded key insights into the challenges of poverty alleviation.Fourth, a concern with the possible influence of microfinance in the economy runs as an intrinsic theme throughout the book. In addition to devoting a long chapter of emergence of NGO-MFIs in Bangladesh, the author analyzes the role of microfinance in its specific contexts in each subsequent chapter, for example, in shaping the trends in poverty, inequality, resource accumulation and in influencing participation of the rural poor in NGO-MFIs and in affecting the ability of the rural poor to be free from poverty and to cope with environmental shocks. Some remarks on possible prospects or recommendations are provided at the end of the book.
Download or read book Islamic Microfinance and Poverty Alleviation at Grassroots in South Western Nigeria written by Oyesanya O. Sodiq and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The plethora of poverty in many parts of the Third World, Less Developed Countries (LDCs), despite quite spectacular economic growth, has spawned interests in the scourge in academic and policy-making circles. In the recent years, international consensus has emerged to focus development goals on poverty alleviation. Governments have agreed to formulate and implement anti-poverty plans that would set time-bound goals and targets for the substantial reduction of poverty. Hence, programmes and institutions that provide credit and savings facilities have been promoted by governments, international development organizations, local non-governmental organizations and grassroots bodies as an indispensable strategy for alleviating poverty in Less Developed Countries (LDCs) and increasingly also within poor communities of Industrially Advanced Countries (IACs). Microfinance initiative therefore, is widely acclaimed as a new innovative approach to alleviate poverty. Through many a financial and social intermediation service, the poor who were denied access to mainstream banking services are now able to benefit from various financial products and services. Today, there are more than 7000 micro-lending institutions providing loans to more than 25 million poor individuals across the world, their vast majority being women. Thus, the concern over credit provision and finance accessibility to the poor and the vulnerable is inevitably relative to Islamic financial intermediaries that espouse greater socio-economic responsibilities-social justice, equitable distribution of income and wealth and economic development. The statistical indices however, show that the existing microfinance institutions in Nigeria serve less than one million people out of forty million being the potential number that needs the services. And paradoxically, the operators of these institutions charge interest-rate as high as up to 36%-42% for lending. This further aggravates the ubiquitous inequalities in the distribution of wealth and income. Also, the aggregate micro-credit facility in Nigeria account for about 0.2% of the GDP; and is less than 1% of total credit in the economy. Nigeria being a country with a Muslim majority represents a potential for Islamic Microfinance especially that most Muslims reject the conventional interest-based micro financing. Therefore, the paper is aimed at a critical analysis of poverty alleviation strategies of Al-Hayat Relief Foundation.
Download or read book Islamic Finance and Sustainable Development written by Mohd Ma'Sum Billah and published by Taylor & Francis. This book was released on 2024-05-07 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: The interest in improving Environmental, Social and Governance (ESG) outcomes among stakeholders of Islamic banking and finance has become front and centre in the discussions relating to Islamic sustainable finance. This book offers an expansive overview of the relevant issues, global initiatives and trends in the management, governance, and operation of Islamic sustainable impact finance. It identifies the models and mechanisms required to achieve sustainable impact finance in the context of Islamic investment and project development and collects and observes the latest approaches in maintaining and fulfilling the principles of Shariah-compliance in Sustainable Development Goals and Environmental, Social and Governance-oriented projects. The book also explores conventional financing instruments, which are being used in modern practice. While Islamic sustainable finance provides a positive change in the Islamic banking and finance industry globally, implementing it is not without its challenges. Such challenges, such as the fulfilment of Shariah-compliance requirements, both legally and jurisprudentially, and the application and development of modern innovative products and hybrid models of classical products are highlighted and addressed in the book. The book delves into the current management practices of Islamic banking and finance, which promote Islamic sustainable impact finance and outlines strategies for meeting sustainable investments and projects. Other factors, such as the latest technology, regulations and social, political and economic policies are also considered. Evidence is provided via case studies from selected countries that participate actively in the Islamic banking and finance industry globally. The book will attract a wide audience from researchers, scholars, and students to stakeholders of Islamic banking and finance, regulators, policy makers and Shariah-compliant practitioners.
Download or read book Enhancing Financial Inclusion through Islamic Finance Volume I written by Abdelrahman Elzahi Saaid Ali and published by Palgrave Macmillan. This book was released on 2020-08-12 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, the first of two volumes, highlights 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. Gender disparity exists within financial access and its extent varies widely across world economies. South Asia, the Middle East and North Africa have the largest gender gaps, with women in these regions being forty per cent less likely than men to have a formal account at a financial institution. Analysing how Islamic financial inclusion can empower individuals, this volume explores the contribution of Islamic microfinance in achieving SDGs and solving income and wealth inequality. Comprising a combination of empirical evidence, theory and modelling, this edited collection illustrates how to improve access to finance, making it essential reading for those researching both Islamic finance and development finance.
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.
