IDEAS home Printed from https://ideas.repec.org/p/gtr/gatrjs/jfbr188.html
   My bibliography  Save this paper

Interest-Free Microfinance Arrangements and Its Impact on the Livelihood of Women in India

Author

Listed:
  • Faizan Khan Sherwani

    (Jamia Hamdard University New Delhi, India Author-2-Name: Sanaa Zafar Shaikh Author-2-Workplace-Name: University of Houston Taxas, U.S.A Author-3-Name: Zoya Zafar Shaikh Author-3-Workplace-Name: University of Houston Taxas, U.S.A Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)

Abstract

" Objective - The purpose of this study is to examine the impact of interest-free microfinance arrangements on the livelihood of women in India. Studies reveal that the existence of interest-free microfinance, as well as its outcome on the livelihood of weaker sections of society (particularly women), overall improved their well-being. Methodology � Exploratory and cross-section analysis is used to understand the satisfaction level among non-conventional microfinance arrangements. Survey of non-conventional microfinance beneficiaries exposes the status of women's' earnings, financial literacy, skills development, employment generation, household savings and poverty alleviation. Findings � Interest-free microfinance products like Zakat, Sadaqah, and KarzeHasna will successfully meet micro-financing core objectives of poverty alleviation, women empowerment, gender equality, prosperity, and employment. The analysis showed that the performance of interest-free microfinance consumers is better than conventional microfinance consumers. Novelty � This study is an original which is based on the demographic, sociocultural and regulatory framework of interest-free micro finance systems to identify the acceptability in the Indian financial system. The discussions in the study are mainly concerned with the empirical review of the impact and effect of interest-free microfinance on the lifestyle of female microfinance users after obtaining a loan i.e., their income, expenditure, saving, entrepreneurship, consumption, and women participation in earning income in India. Type of Paper - Empirical"

Suggested Citation

  • Faizan Khan Sherwani, 2021. "Interest-Free Microfinance Arrangements and Its Impact on the Livelihood of Women in India," GATR Journals jfbr188, Global Academy of Training and Research (GATR) Enterprise.
    • Handle: RePEc:gtr:gatrjs:jfbr188
    DOI: https://doi.org/10.35609/jfbr.2021.6.2(3)
    as

    Download full text from publisher

    File URL: http://gatrenterprise.com/GATRJournals/JFBR/pdf_files/JFBR-Vol-6(2)/3.Faizan%20Khan%20Sherwani.pdf
    Download Restriction: http://gatrenterprise.com/GATRJournals/online_submission.html
    File URL: https://libkey.io/https://doi.org/10.35609/jfbr.2021.6.2(3)?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. 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.
    2. Barua, Abheek & Kathuria, Rajat & Malik, Neha, 2016. "The Status of Financial Inclusion, Regulation, and Education in India," ADBI Working Papers 568, Asian Development Bank Institute.
    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. 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).
    2. Farida Mohammed Shehu & Al-Hasan Al-Aidaros, 2015. "A Proposed Framework on the Relationship between Islamic Microfinance Related Factors and Women Entrepreneurs Business Performance in Nigeria," Journal of Education and Vocational Research, AMH International, vol. 6(4), pages 38-44.
    3. Kim, Dai-Won & Yu, Jung-Suk & Hassan, M. Kabir, 2018. "Financial inclusion and economic growth in OIC countries," Research in International Business and Finance, Elsevier, vol. 43(C), pages 1-14.
    4. Abidin Alhassan & Leon Li & Krishna Reddy & Geeta Duppati, 2021. "The relationship between political instability and financial inclusion: Evidence from Middle East and North Africa," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 353-374, January.
    5. Demirguc-Kunt Asli & Klapper Leora & Randall Douglas, 2014. "Islamic Finance and Financial Inclusion: Measuring Use of and Demand for Formal Financial Services among Muslim Adults," Review of Middle East Economics and Finance, De Gruyter, vol. 10(2), pages 1-42, August.
    6. Olaniyi Evans & Olaniyi Lawanson, 2017. "A Multi-Sectoral Study of Financial Inclusion and Economic Output in Nigeria," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 195-204, June.
    7. Francis Osei‐Tutu & Laurent Weill, 2021. "Sex, language and financial inclusion," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 29(3), pages 369-403, July.
    8. Simplice A. Asongu & Jacinta C. Nwachukwu, 2018. "Recent finance advances in information technology for inclusive development: a systematic review," Netnomics, Springer, vol. 19(1), pages 65-93, October.
    9. Evans, Olaniyi, 2016. "Determinants of Financial Inclusion in Africa: A Dynamic Panel Data Approach," MPRA Paper 81326, University Library of Munich, Germany.
    10. Aruna Sharma & James Copestake & Michelle James, 2021. "The Samagra anti‐poverty programme in Madhya Pradesh: Integrating household data, overcoming silo‐problems and leaving nobody behind," Development Policy Review, Overseas Development Institute, vol. 39(3), pages 435-449, May.
    11. Ahmed,Habib & Mohieldin,Mahmoud & Verbeek,Jos & Aboulmagd,Farida Wael, 2015. "On the sustainable development goals and the role of Islamic finance," Policy Research Working Paper Series 7266, The World Bank.
    12. Evans, Olaniyi, 2015. "The Effects of Economic and Financial Development on Financial Inclusion in Africa," MPRA Paper 81325, University Library of Munich, Germany.
    13. Sami Ben Naceur & Adolfo Barajas & Alexander Massara, 2017. "Can Islamic banking increase financial inclusion?," Chapters, in: M. Kabir Hassan (ed.), Handbook of Empirical Research on Islam and Economic Life, chapter 9, pages 213-252, Edward Elgar Publishing.
    14. Steven Kayambazinthu Msosa, 2021. "Leveraging the Post Office Network to Foster Financial Inclusion," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 10(4), pages 141-149, October.
    15. Umar, Umar Habibu, 2020. "The business financial inclusion benefits from an Islamic point of view: a qualitative inquiry," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 28, pages 83-100.
    16. Ghlamallah, Ezzedine & Alexakis, Christos & Dowling, Michael & Piepenbrink, Anke, 2021. "The topics of Islamic economics and finance research," International Review of Economics & Finance, Elsevier, vol. 75(C), pages 145-160.
    17. 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.
    18. Mirakhor, Abbas & Iqbal, Zamir, 2012. "Financial Inclusion: Islamic Finance Perspective," MPRA Paper 55977, University Library of Munich, Germany, revised 2012.
    19. Simplice A. Asongu & Lieven De Moor, 2015. "Recent advances in finance for inclusive development: a survey," Research Africa Network Working Papers 15/005, Research Africa Network (RAN).
    20. Hassan, M. Kabir & Aliyu, Sirajo, 2018. "A contemporary survey of islamic banking literature," Journal of Financial Stability, Elsevier, vol. 34(C), pages 12-43.

    More about this item

    Keywords

    Entrepreneurship; Livelihood; Education Development; Living Standards; Women Empowerment;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    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:gtr:gatrjs:jfbr188. 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: Prof. Dr. Abd Rahim Mohamad (email available below). General contact details of provider: http://gatrenterprise.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.