Islamic microfinance as an instrument for poverty alleviation

Halima Begum, Mohammed Robiul Alam, A. S A Ferdous Alam, Abd. Hair Awang

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

Islamic Microfinance (IM) is an important instrument for lessening poverty more than ever in Muslim majority developing countries. Over populated Bangladesh is one of the developing countries in the world. However, there are a number of financial institutions working with the concept from several years; it is still in the inception stage in Bangladesh. The purpose of the paper is to assess the potential of expanding IM as poverty alleviation technique in Bangladesh. The study found that concept of IM can easily be used to harness the religious beliefs of poor people by eradicating interest (Riba) from the financing mechanism.

Original languageEnglish
Pages (from-to)1708-1711
Number of pages4
JournalAdvanced Science Letters
Volume21
Issue number6
DOIs
Publication statusPublished - 1 Jun 2015

Fingerprint

microfinance
Poverty
Bangladesh
poverty alleviation
Developing Countries
Developing countries
poverty
developing world
developing country
Islam
Religion
Muslim
Concepts
Beliefs

Keywords

  • Bangladesh
  • Islamic microfinance (IM)
  • Poverty alleviation
  • Riba

ASJC Scopus subject areas

  • Engineering(all)
  • Environmental Science(all)
  • Computer Science(all)
  • Energy(all)
  • Mathematics(all)
  • Health(social science)
  • Education

Cite this

Islamic microfinance as an instrument for poverty alleviation. / Begum, Halima; Alam, Mohammed Robiul; Ferdous Alam, A. S A; Awang, Abd. Hair.

In: Advanced Science Letters, Vol. 21, No. 6, 01.06.2015, p. 1708-1711.

Research output: Contribution to journalArticle

Begum, Halima ; Alam, Mohammed Robiul ; Ferdous Alam, A. S A ; Awang, Abd. Hair. / Islamic microfinance as an instrument for poverty alleviation. In: Advanced Science Letters. 2015 ; Vol. 21, No. 6. pp. 1708-1711.
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