Prospects of a partnership-based Islamic microfnance model in Bangladesh: clients perspectives
Islamic microfinance is a powerful Shariah-compliant tool for helping the impoverished escape the cycle of poverty in Bangladesh. Despite a few applications of Islamic microfinance instruments, most of the instruments have been based on Murabahah contracts, while the use of equity or partnership-bas...
Saved in:
| Main Authors: | , , , |
|---|---|
| Format: | Book Chapter |
| Language: | English English |
| Published: |
Springer
2024
|
| Subjects: | |
| Online Access: | http://irep.iium.edu.my/115543/3/115543_Prospects%20of%20a%20partnership-based.pdf http://irep.iium.edu.my/115543/4/115543_Prospects%20of%20a%20partnership-based_Scopus.pdf http://irep.iium.edu.my/115543/ https://link.springer.com/chapter/10.1007/978-3-031-48770-5_14 https://doi.org/10.1007/978-3-031-48770-5_14 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | Islamic microfinance is a powerful Shariah-compliant tool for helping the impoverished escape the cycle of poverty in Bangladesh. Despite a few applications of Islamic microfinance instruments, most of the instruments have been based on Murabahah contracts, while the use of equity or partnership-based contracts has been very minimal. This study aims to analyse the opinions and perspectives of microfinance recipients of Bangladesh regarding the prospects of implementing a partnership-based Islamic microfinance model in Bangladesh where the concepts of Mudarabah and Musharakah will be applied. A mixed-method research method has been adopted in this study. A total of 400 recipients of Islamic microfinance products were surveyed using a close-ended questionnaire to determine their viewpoints about Mudarabah and Musharakah-based Islamic microfinance model. At the same time, secondary data were collected from books, peer-reviewed journals, and conference proceedings, and a critical analysis approach was adopted in the process. The study finds that partnership based Islamic microfinance has a bright prospect to be implemented in Bangladesh. If properly put into practice, partnership-based Islamic microfinance will effectively assist the nation’s poor in enhancing both their financial inclusion and general socioeconomic conditions. |
|---|