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The growth and contemporary challenges of Islamic microfinance in Bangladesh

Microfinance industry is one of the a sectors of Bangladesh which has been experienced a tremendous growth in last three decades. The aim of developing microfinance schemes is to provide business opportunities for the poor in order to promote their financial health. Initially, the conventional mod...

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Main Authors: Md Faruk, Abdullah, Biplob, Hossain
Format: Article
Language:English
Published: 2019
Subjects:
BP Islam. Bahaism. Theosophy, etc
HJ Public Finance
Online Access:http://eprints.unisza.edu.my/6164/1/FH02-FESP-19-25862.pdf
http://eprints.unisza.edu.my/6164/
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spelling my-unisza-ir.61642022-03-14T02:44:25Z http://eprints.unisza.edu.my/6164/ The growth and contemporary challenges of Islamic microfinance in Bangladesh Md Faruk, Abdullah Biplob, Hossain BP Islam. Bahaism. Theosophy, etc HJ Public Finance Microfinance industry is one of the a sectors of Bangladesh which has been experienced a tremendous growth in last three decades. The aim of developing microfinance schemes is to provide business opportunities for the poor in order to promote their financial health. Initially, the conventional model has only been used to give financing. With the passage of time, Islamic model of financing is also included under microfinancing programs. Nowadays, both conventional and Islamic models are currently being used to provide financing. However, several researchers believe that the Islamic model of financing is more effective as it considers basic human needs. But, the growth of Islamic microfinance is not as it is expected. At present, Islamic Microfinance Institutions (IMFIs) in Bangladesh are facing a number of challenges due to its nature, lack of resources and regulatory support. Therefore, this study is going to deliberate rationales behind the growth of Islamic microfinance industry in Bangladesh. Moreover, current challenges and possible suggestions of this industry are also discussed. The article has been mainly designed based on secondary data. It is expected that the output of this study might be beneficial for microfinance practitioners, learners and researchers especially those who have interest on this issue. 2019-08 Article PeerReviewed text en http://eprints.unisza.edu.my/6164/1/FH02-FESP-19-25862.pdf Md Faruk, Abdullah and Biplob, Hossain (2019) The growth and contemporary challenges of Islamic microfinance in Bangladesh. Asian People Journal (APJ), 2 (1). pp. 45-53. ISSN 2600-8971
institution Universiti Sultan Zainal Abidin
building UNISZA Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Sultan Zainal Abidin
content_source UNISZA Institutional Repository
url_provider https://eprints.unisza.edu.my/
language English
topic BP Islam. Bahaism. Theosophy, etc
HJ Public Finance
spellingShingle BP Islam. Bahaism. Theosophy, etc
HJ Public Finance
Md Faruk, Abdullah
Biplob, Hossain
The growth and contemporary challenges of Islamic microfinance in Bangladesh
description Microfinance industry is one of the a sectors of Bangladesh which has been experienced a tremendous growth in last three decades. The aim of developing microfinance schemes is to provide business opportunities for the poor in order to promote their financial health. Initially, the conventional model has only been used to give financing. With the passage of time, Islamic model of financing is also included under microfinancing programs. Nowadays, both conventional and Islamic models are currently being used to provide financing. However, several researchers believe that the Islamic model of financing is more effective as it considers basic human needs. But, the growth of Islamic microfinance is not as it is expected. At present, Islamic Microfinance Institutions (IMFIs) in Bangladesh are facing a number of challenges due to its nature, lack of resources and regulatory support. Therefore, this study is going to deliberate rationales behind the growth of Islamic microfinance industry in Bangladesh. Moreover, current challenges and possible suggestions of this industry are also discussed. The article has been mainly designed based on secondary data. It is expected that the output of this study might be beneficial for microfinance practitioners, learners and researchers especially those who have interest on this issue.
format Article
author Md Faruk, Abdullah
Biplob, Hossain
author_facet Md Faruk, Abdullah
Biplob, Hossain
author_sort Md Faruk, Abdullah
title The growth and contemporary challenges of Islamic microfinance in Bangladesh
title_short The growth and contemporary challenges of Islamic microfinance in Bangladesh
title_full The growth and contemporary challenges of Islamic microfinance in Bangladesh
title_fullStr The growth and contemporary challenges of Islamic microfinance in Bangladesh
title_full_unstemmed The growth and contemporary challenges of Islamic microfinance in Bangladesh
title_sort growth and contemporary challenges of islamic microfinance in bangladesh
publishDate 2019
url http://eprints.unisza.edu.my/6164/1/FH02-FESP-19-25862.pdf
http://eprints.unisza.edu.my/6164/
_version_ 1728056329517400064
score 13.211869

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