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Performance of Islamic microcredit in perspective of Maqasid Al-Shariah: case study on Amanah Ikhtiar Malaysia

Author

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  • Said, Jamaliah
  • Hassan, Salwana
  • Alam, Md. Mahmudul

    (Universiti Utara Malaysia)

Abstract

Many studies have evaluated the role of microcredit programs using the conventional assessment approach. However, the conventional system of socioeconomic role assessment cannot evaluate the performance of Islamic microcredit in terms of achieving the objectives of Shariah for the Islamic microcredit model. Therefore, this study examines the role of Islamic microcredit based on the achievement of Maqasid Al-Shariah. It uses primary data that were collected through a questionnaire survey distributed among 393 microcredit borrowers from Amanah Ikhtiar Malaysia (AIM). The survey was conducted from July 2013 to December 2013 in the State of Sabah and in Peninsular Malaysia. This research also analyzes the socioeconomic roles and the achievement of microcredit and microenterprise from the perspective of the five principles of Al-daruriyyat from Maqasid Al-Shariah. Results indicate that the microcredit program of AIM has a positive and enhancing effect on the livelihood of clients. This effect is reflected in the assessment of their well-being, especially in the context of Maqasid Al-Shariah.

Suggested Citation

  • Said, Jamaliah & Hassan, Salwana & Alam, Md. Mahmudul, 2019. "Performance of Islamic microcredit in perspective of Maqasid Al-Shariah: case study on Amanah Ikhtiar Malaysia," SocArXiv ay6bf, Center for Open Science.
    • Handle: RePEc:osf:socarx:ay6bf
    DOI: 10.31219/osf.io/ay6bf
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    1. Maria Seitanidi & Andrew Crane, 2009. "Implementing CSR Through Partnerships: Understanding the Selection, Design and Institutionalisation of Nonprofit-Business Partnerships," Journal of Business Ethics, Springer, vol. 85(2), pages 413-429, April.
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