Shariah governance for Islamic microfinance industry
Joint Authors
Tijani, Ibrahim Musa
Rusni, Hasan
Nasir, Wan Amir Shafiq Bin Ab.
Source
Issue
Vol. 17, Issue 2 (s) (31 Aug. 2020), pp.143-161, 19 p.
Publisher
International Islamic University Malaysia
Publication Date
2020-08-31
Country of Publication
Malaysia
No. of Pages
19
Main Subjects
Abstract EN
Microfinance is a growing industry that caters to various forms of financing for the financially underprivileged segment of any society.
the microfinance industry aims to provide financial assistance to the poor, small and medium enterprises (SMEs), micro-entrepreneurs, and other financially marginalized segments.
although the microfinance industry continues to assist numerous people, its traditional mechanism of financing, interest-based deposits and interest-bearing loans (riba), is not permissible according to the Muslim belief.
as an alternative, Islamic microfinance was established to cater to the Muslim community.
Islamic microfinance is increasingly becoming an effective mechanism to tackle poverty, inequality and provide financing to micro-entrepreneurs and small and medium enterprises (smes) in Muslim countries.
however, for the integrity and credibility of the Islamic microfinance industry there is a need for good governance and regulations.
governance and regulation are still a major concern for both microfinance and Islamic microfinance.
an added aspect of governance that is peculiar to the Islamic microfinance is shariah governance.
this paper will examine the possible means to establish shariah governance for the Islamic microfinance industry.
the paper is conceptual in nature and is based on literature review to support the theory of the research.
American Psychological Association (APA)
Tijani, Ibrahim Musa& Rusni, Hasan& Nasir, Wan Amir Shafiq Bin Ab.. 2020. Shariah governance for Islamic microfinance industry. Journal of Islam in Asia،Vol. 17, no. 2 (s), pp.143-161.
https://search.emarefa.net/detail/BIM-1283986
Modern Language Association (MLA)
Tijani, Ibrahim Musa…[et al.]. Shariah governance for Islamic microfinance industry. Journal of Islam in Asia Vol. 17, no. 2 (Special issue) (Aug. 2020), pp.143-161.
https://search.emarefa.net/detail/BIM-1283986
American Medical Association (AMA)
Tijani, Ibrahim Musa& Rusni, Hasan& Nasir, Wan Amir Shafiq Bin Ab.. Shariah governance for Islamic microfinance industry. Journal of Islam in Asia. 2020. Vol. 17, no. 2 (s), pp.143-161.
https://search.emarefa.net/detail/BIM-1283986
Data Type
Journal Articles
Language
English
Record ID
BIM-1283986