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Role of Islamic Microcredit in Poverty Alleviation: A Study in Bangladesh

Author

Listed:
  • Abdullal Al Mamun

    (Assistant Vice President, The Premier Bank PLC, Banshgari Branch, Kishoreganj, Bangladesh)

  • Md. Abdur Rashid

    (Department of Business Administration, Sheikh Hasina University of Science and Technology (SHUST), Banshgari, Kishoreganj, Bangladesh)

Abstract

Islamic microcredit is playing a pivotal role in poverty alleviation and economic growth in Bangladesh. Its popularity stems from religious alignment with Islamic values and the prohibition of interest. This study explores the role of Islamic microcredit programs provided by commercial banks in Bangladesh, focusing on Sharia-compliant financial products designed to uplift marginalized populations. Using data on income growth, asset accumulation, and entrepreneurial development, this paper compares the programs’ impact on rural and urban communities, emphasizing women’s empowerment and financial inclusion. Furthermore, this study examines operational challenges and the real-world impact of these programs on beneficiaries, drawing comparisons with international Islamic microfinance models. This article aims to provide insights for researchers, stakeholders, and policymakers on enhancing the effectiveness of Islamic microcredit.

Suggested Citation

  • Abdullal Al Mamun & Md. Abdur Rashid, 2024. "Role of Islamic Microcredit in Poverty Alleviation: A Study in Bangladesh," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(15), pages 28-32, November.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:15:p:28-32
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