Innovative Islamic social finance for housing microfinance
Joint Authors
Source
Issue
Vol. 26, Issue 1 (31 Jul. 2018), pp.87-122, 36 p.
Publisher
Islamic Development Bank (IDB) Islamic Research and Training Institute (IRTI)
Publication Date
2018-07-31
Country of Publication
Saudi Arabia
No. of Pages
36
Main Subjects
Financial and Accounting Sciences
Islamic Studies
Abstract EN
For a long time, microfinance was considered an appropriate tool to accomplish social and financial goals simultaneously.
Over time microfinance has become more commercialized, transforming into a financially efficient industry, allowing more customers to have access to more sophisticated banking products (e.g.
small housing loans).
Despite interest from the commercial sector, the industry has yet to find a workable market-based solution to fund (housing) microfinance and to improve access to finance.
Microfinance in member countries of the Organization of Islamic Cooperation (OIC) face three challenges: (i) affordable funding, (ii) financial exclusion due to religion and limited access of consumers to financial services, and (iii) constraints in the area of risk and management capabilities.
Growing populations and rising urbanization have impeded the access of low income groups to housing finance.
Housing costs in relation to incomes and the lack of formal title have forced people to live in informal settlements.
American Psychological Association (APA)
Iqbal, Zamir& Roy, Friedemann. 2018. Innovative Islamic social finance for housing microfinance. Islamic Economic Studies،Vol. 26, no. 1, pp.87-122.
https://search.emarefa.net/detail/BIM-832785
Modern Language Association (MLA)
Iqbal, Zamir& Roy, Friedemann. Innovative Islamic social finance for housing microfinance. Islamic Economic Studies Vol. 26, no. 1 (Jul. 2018), pp.87-122.
https://search.emarefa.net/detail/BIM-832785
American Medical Association (AMA)
Iqbal, Zamir& Roy, Friedemann. Innovative Islamic social finance for housing microfinance. Islamic Economic Studies. 2018. Vol. 26, no. 1, pp.87-122.
https://search.emarefa.net/detail/BIM-832785
Data Type
Journal Articles
Language
English
Notes
Includes margin notes.
Record ID
BIM-832785