IDEAS home Printed from https://ideas.repec.org/a/mbr/jmonec/v5y2009i3p1-17.html
   My bibliography  Save this article

Innovate and Modern Modeling in Micro-Finance Structure in Compatible with Islamic Shariah Rules

Author

Listed:
  • Hassanzadeh , Ali

    (Monetary and Banking Research Institute (MBRI), Central Bank of the Islamic Republic of Iran (CBI))

Abstract

Micro financing is providing financial services and resources for low-income people to improve their financial situation. In many less developed countries, providing these services for low-income classes was next to impossible due to high interest rates and heavy collaterals and guarantees that banks and other credit institutions demand. Micro financing was used since 1960s as a fundamental approach to eliminate these barriers and could relatively provide credit and financial services to lower income and poorer populations. However, large groups of Muslim population, who prefer Islamic based financing for themselves and their families, do not have access to such financing. Considering this issue and the limitations in Islamic societies face in using financial services, this paper tries to propose a model of Islamic Shariah-based model of Islamic micro financing, suitable with the financial and credit needs of lower income Muslim societies.

Suggested Citation

  • Hassanzadeh , Ali, 2009. "Innovate and Modern Modeling in Micro-Finance Structure in Compatible with Islamic Shariah Rules," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 5(3), pages 1-17, July.
    • Handle: RePEc:mbr:jmonec:v:5:y:2009:i:3:p:1-17
    as

    Download full text from publisher

    File URL: http://jme.mbri.ac.ir/article-1-41-en.pdf
    Download Restriction: no
    File URL: http://jme.mbri.ac.ir/article-1-41-en.html
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Micro-Finance; Shariah Rules Financial Services; Low income Muslims;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

    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:mbr:jmonec:v:5:y:2009:i:3:p:1-17. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: M. E. (email available below). General contact details of provider: https://edirc.repec.org/data/mbcbiir.html .

    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.