IDEAS home Printed from https://ideas.repec.org/a/ers/ijfirm/v6y2016i2p1115.html
   My bibliography  Save this article

The Relevance of Islamic Micro-finance in achieving the Sustainable Development Goals

Author

Listed:
  • Usman
  • A. S.
  • Tasmin
  • R.

Abstract

Despite the impressive score card of the Millennium Development Goals (MDGs), it goes to suggest that the Sustainable Development Goals (SDGs) requires targeted efforts in reaching the most vulnerable people worldwide. In Muslim societies, Islamic Micro-finance has been regarded as an important tool for the empowerment of poor people especially women, towards developing micro enterprises. The main objective of this study is to explore the conceptual framework on the relevance of Islamic Microfinance in achieving the SDGs. This study identifies different products of Islamic Micro-finance used to address diverse deprivations, leading to individual’s personal development, increased productivity and income, and participation in economic and social life. The methodology of this study is based on analysis of relevant literatures. The finding of the study indicates that Islamic Micro-finance is a growing market niche with potentials to develop human capabilities towards empowerment, knowledge and skills, self-reliance and social cohesion. The empowerment enables the clients to manage their economic life effectively and reduce stress.

Suggested Citation

  • Usman & A. S. & Tasmin & R., 2016. "The Relevance of Islamic Micro-finance in achieving the Sustainable Development Goals," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 6(2), pages 1115-1115.
    • Handle: RePEc:ers:ijfirm:v:6:y:2016:i:2:p:1115
    as

    Download full text from publisher

    File URL: https://journalfirm.com/journal/146/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Kanbur, Ravi & Venables, Anthony J., 2003. "Spatial Inequality and Development," Working Papers 127779, Cornell University, Department of Applied Economics and Management.
    2. Fleisher, Belton & Li, Haizheng & Zhao, Min Qiang, 2010. "Human capital, economic growth, and regional inequality in China," Journal of Development Economics, Elsevier, vol. 92(2), pages 215-231, July.
    3. James B. Ang, 2010. "Finance and Inequality: The Case of India," Southern Economic Journal, John Wiley & Sons, vol. 76(3), pages 738-761, January.
    4. Barry Eichengreen & Donghyun Park & Kwanho Shin, 2013. "Growth Slowdowns Redux: New Evidence on the Middle-Income Trap," NBER Working Papers 18673, National Bureau of Economic Research, Inc.
    5. Michael Delgado & Christopher Parmeter & Valentina Hartarska & Roy Mersland, 2015. "Should all microfinance institutions mobilize microsavings? Evidence from economies of scope," Empirical Economics, Springer, vol. 48(1), pages 193-225, February.
    6. Pervez Zammurad Janjua & Usman Ahmad Kamal, 2011. "The Role of Education and Income in Poverty Alleviation: A Cross-Country Analysis," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 16(1), pages 143-172, Jan-Jun.
    7. Farrigan, Tracey L. & Parker, Timothy S., 2012. "The Concentration of Poverty Is a Growing Rural Problem," Amber Waves:The Economics of Food, Farming, Natural Resources, and Rural America, United States Department of Agriculture, Economic Research Service, issue 04, pages 1-4.
    8. Marco Tavanti, 2013. "Before Microfinance: The Social Value of Microsavings in Vincentian Poverty Reduction," Journal of Business Ethics, Springer, vol. 112(4), pages 697-706, February.
    9. Mohieldin , Mahmoud & Rostom , Ahmed & Fu, Xiaochen & Iqbal, Zamir, 2012. "The Role of Islamic Finance in Enhancing Financial Inclusion in Organization of Islamic Cooperation (OIC) Countries," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 20, pages 55-120.
    10. Suri, Tavneet & Boozer, Michael A. & Ranis, Gustav & Stewart, Frances, 2011. "Paths to Success: The Relationship Between Human Development and Economic Growth," World Development, Elsevier, vol. 39(4), pages 506-522, April.
    11. Rosman Mahmood & M. Mohd Rosli, 2013. "Microcredit position in micro and small enterprise performance: the Malaysian case," Management Research Review, Emerald Group Publishing Limited, vol. 36(5), pages 436-453, April.
    12. Craig Churchill & Richard D. Phillips & Dirk Reinhard, 2011. "Introduction to the 2011 Symposium Issue of JRI on Microinsurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 78(1), pages 1-5, March.
    13. Muhammad Shahbaz, 2010. "Income inequality‐economic growth and non‐linearity: a case of Pakistan," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 37(8), pages 613-636, July.
    14. Shirazi, Nasim Shah, 2012. "Targeting and Socio-Economic Impact of Microfinance: A Case Study of Pakistan," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 20, pages 1-28.
    15. Sheila Nu Nu Htay & Nur Shazwani Sadzali & Hanudin Amin, 2015. "An analysis of the viability of micro healthtakafulin Malaysia," Qualitative Research in Financial Markets, Emerald Group Publishing Limited, vol. 7(1), pages 37-71, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Usman, A. S. & Tasmin, R. & Ulum, Z. K. A. B, 2019. "The Role of Entrepreneurial Empowerment in the Relationship between Islamic Microfinance and Well-being of Clients: A View from a Service Provider," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 26, pages 73-93.
    2. Mine Yilmazer & Serkan inar, 2015. "Human Capabilities and Economic Growth: A Comparative Human Capability Index," International Journal of Economics and Financial Issues, Econjournals, vol. 5(4), pages 843-853.
    3. Żuk, Piotr & Savelin, Li, 2018. "Real convergence in central, eastern and south-eastern Europe," Occasional Paper Series 212, European Central Bank.
    4. Lu, Ming & Zhang, Xi, 2019. "Towards an intelligent country: China’s higher education expansion and rural children’s senior high school participation," Economic Systems, Elsevier, vol. 43(2), pages 1-1.
    5. Khalid Zaman & Bashir Khilji, 2014. "A note on pro-poor social expenditures," Quality & Quantity: International Journal of Methodology, Springer, vol. 48(4), pages 2121-2154, July.
    6. D.G. Rodionov & T.J. Kudryavtseva & A.E. Skhvediani, 2018. "Human Development and Income Inequality as Factors of Regional Economic Growth," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 2), pages 323-337.
    7. Xiaowen Xie, 2023. "Analyzing the Impact of Digital Inclusive Finance on Poverty Reduction: A Study Based on System GMM in China," Sustainability, MDPI, vol. 15(18), pages 1-20, September.
    8. Qing Li & Long Hai Vo, 2021. "Intangible Capital and Innovation: An Empirical Analysis of Vietnamese Enterprises," Economics Discussion / Working Papers 21-02, The University of Western Australia, Department of Economics.
    9. Yao Zhao & Xuena Kong & Mahmood Ahmad & Zahoor Ahmed, 2023. "Digital Economy, Industrial Structure, and Environmental Quality: Assessing the Roles of Educational Investment, Green Innovation, and Economic Globalization," Sustainability, MDPI, vol. 15(3), pages 1-24, January.
    10. Patel, Dev & Sandefur, Justin & Subramanian, Arvind, 2021. "The new era of unconditional convergence," Journal of Development Economics, Elsevier, vol. 152(C).
    11. Jing Li & Tsun Se Cheong & Jianfa Shen & Dahai Fu, 2019. "Urbanization And Rural–Urban Consumption Disparity: Evidence From China," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 64(04), pages 983-996, September.
    12. Muhammad Shahbaz & Qazi Muhammad Adnan Hye & Muhammad Shahbaz Shabbir, 2013. "Does Corruption Increase Financial Development? A Time Series Analysis in Pakistan," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 1(10), pages 113-124, October.
    13. Bakari, Sayef, 2021. "Do researchers affect economic growth?," MPRA Paper 108788, University Library of Munich, Germany.
    14. Zhou, Yixiao & Tyers, Rod, 2019. "Automation and inequality in China," China Economic Review, Elsevier, vol. 58(C).
    15. Kim, Jinhee & Lee, Keun, 2022. "Local–global interface as a key factor in the catching up of regional innovation systems: Fast versus slow catching up among Taipei, Shenzhen, and Penang in Asia," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    16. Muhammad Shahbaz & Mita Bhattacharya & Mantu Kumar Mahalik, 2017. "Finance and income inequality in Kazakhstan: evidence since transition with policy suggestions," Applied Economics, Taylor & Francis Journals, vol. 49(52), pages 5337-5351, November.
    17. Mengmeng Meng & Weiguo Fan & Jianchang Lu & Xiaobin Dong & Hejie Wei, 2020. "Research on the Influence of Energy Utilization and Economic Development on Human Well-Being in Qinghai-Tibet Plateau," Sustainability, MDPI, vol. 13(1), pages 1-26, December.
    18. Simplice A. Asongu & Jacinta C. Nwachukwu, 2017. "Recent finance advances in information technology for inclusive development: a survey," Research Africa Network Working Papers 17/009, Research Africa Network (RAN).
    19. Bottasso, Anna & Conti, Maurizio & Vannoni, Davide, 2019. "Scale and (quasi) scope economies in airport technology. An application to UK airports," Transportation Research Part A: Policy and Practice, Elsevier, vol. 125(C), pages 150-164.
    20. Anping Chen & Nicolaas Groenewold, 2017. "An increase in the retirement age in China: the regional economic effects," Applied Economics, Taylor & Francis Journals, vol. 49(7), pages 702-721, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:ijfirm:v:6:y:2016:i:2:p:1115. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://journalfirm.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.