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The challenges and opportunities of COVID-19 for Islamic microfinance institutions in Bangladesh

This study focuses on the Urban Poor Development Scheme (UPDS) and the Rural Development Scheme (RDS), both of which are types of Islamic Microfinance Institutions. It examines the effects of the COVID-19 pandemic on these two categories of Islamic Microfinance Institutions (IsMFIs). The significant...

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Main Authors: Uddin, Md Nazim, Haque, A K M Ahasanul, Anis, Zohurul
Format: Proceeding Paper
Language:English
English
English
English
Published: Springer 2024
Subjects:
HF5001 Business. Business Administration
Online Access:http://irep.iium.edu.my/117424/1/Chapter%20%28The%20Challenges%20Opportunity%29%20Page%20365-384.pdf
http://irep.iium.edu.my/117424/2/Contemporary%20Business%20Research%20Springer%20Book%202024.pdf
http://irep.iium.edu.my/117424/3/Contributors%20Author%20%28Article%20No%2020%29.pdf
http://irep.iium.edu.my/117424/4/Cover%20Page%20and%20Others.pdf
http://irep.iium.edu.my/117424/
https://link.springer.com/chapter/10.1007/978-981-97-5400-7_20
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spelling my.iium.irep.1174242024-12-31T04:35:38Z http://irep.iium.edu.my/117424/ The challenges and opportunities of COVID-19 for Islamic microfinance institutions in Bangladesh Uddin, Md Nazim Haque, A K M Ahasanul Anis, Zohurul HF5001 Business. Business Administration This study focuses on the Urban Poor Development Scheme (UPDS) and the Rural Development Scheme (RDS), both of which are types of Islamic Microfinance Institutions. It examines the effects of the COVID-19 pandemic on these two categories of Islamic Microfinance Institutions (IsMFIs). The significant decline in economic activity during the pandemic has significantly impacted the lives of several people, especially those who are debtors of multinational Islamic Microfinance Institutions (IsMFIs). A more robust understanding of the need for financial inclusion and increased demand for digital financial services are two instances of the potential that Bangladeshi IsMFIs have identified their challenges. The significance of this research lies in the pivotal role that IsMFIs assume in alleviating poverty at the national level, namely among marginalized populations. This study fills the knowledge gap about the opportunities and challenges that COVID-19 poses for IsMFIs operating in Bangladesh. The principle behind this methodology is library research, which entails gathering and assessing data from various sources. Yearly reports from UPDS, RDS, and the Bangladesh Bureau of Statistics supplement data gathering. The study process was underpinned by the use of robust quantitative research methodologies. Strategies for expanding foreign financial institutions in Bangladesh following the COVID-19 pandemic are formulated based on the study results, highlighting the potential for significant growth and expansion in this sector. Due to the COVID-19 pandemic's impact on the microfinance sector, this study examines the current scholarly discourse on the obstacles and prospects that IsMFIs in Bangladesh encounter. Furthermore, it will furnish astute insights concerning these obstacles and prospects. This study's findings provide practical guidance for policymakers and other stakeholders in advocating for IsMFIs, thereby mitigating the disease's impact on Bangladesh's impoverished population. Springer 2024-09-23 Proceeding Paper PeerReviewed application/pdf en http://irep.iium.edu.my/117424/1/Chapter%20%28The%20Challenges%20Opportunity%29%20Page%20365-384.pdf application/pdf en http://irep.iium.edu.my/117424/2/Contemporary%20Business%20Research%20Springer%20Book%202024.pdf application/pdf en http://irep.iium.edu.my/117424/3/Contributors%20Author%20%28Article%20No%2020%29.pdf application/pdf en http://irep.iium.edu.my/117424/4/Cover%20Page%20and%20Others.pdf Uddin, Md Nazim and Haque, A K M Ahasanul and Anis, Zohurul (2024) The challenges and opportunities of COVID-19 for Islamic microfinance institutions in Bangladesh. In: 14th Global Islamic Marketing Conference, September 27-29, 2023, Tbilisi –Georgia. https://link.springer.com/chapter/10.1007/978-981-97-5400-7_20 10.1007/978-981-97-5400-7_20
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
English
English
topic HF5001 Business. Business Administration
spellingShingle HF5001 Business. Business Administration
Uddin, Md Nazim
Haque, A K M Ahasanul
Anis, Zohurul
The challenges and opportunities of COVID-19 for Islamic microfinance institutions in Bangladesh
description This study focuses on the Urban Poor Development Scheme (UPDS) and the Rural Development Scheme (RDS), both of which are types of Islamic Microfinance Institutions. It examines the effects of the COVID-19 pandemic on these two categories of Islamic Microfinance Institutions (IsMFIs). The significant decline in economic activity during the pandemic has significantly impacted the lives of several people, especially those who are debtors of multinational Islamic Microfinance Institutions (IsMFIs). A more robust understanding of the need for financial inclusion and increased demand for digital financial services are two instances of the potential that Bangladeshi IsMFIs have identified their challenges. The significance of this research lies in the pivotal role that IsMFIs assume in alleviating poverty at the national level, namely among marginalized populations. This study fills the knowledge gap about the opportunities and challenges that COVID-19 poses for IsMFIs operating in Bangladesh. The principle behind this methodology is library research, which entails gathering and assessing data from various sources. Yearly reports from UPDS, RDS, and the Bangladesh Bureau of Statistics supplement data gathering. The study process was underpinned by the use of robust quantitative research methodologies. Strategies for expanding foreign financial institutions in Bangladesh following the COVID-19 pandemic are formulated based on the study results, highlighting the potential for significant growth and expansion in this sector. Due to the COVID-19 pandemic's impact on the microfinance sector, this study examines the current scholarly discourse on the obstacles and prospects that IsMFIs in Bangladesh encounter. Furthermore, it will furnish astute insights concerning these obstacles and prospects. This study's findings provide practical guidance for policymakers and other stakeholders in advocating for IsMFIs, thereby mitigating the disease's impact on Bangladesh's impoverished population.
format Proceeding Paper
author Uddin, Md Nazim
Haque, A K M Ahasanul
Anis, Zohurul
author_facet Uddin, Md Nazim
Haque, A K M Ahasanul
Anis, Zohurul
author_sort Uddin, Md Nazim
title The challenges and opportunities of COVID-19 for Islamic microfinance institutions in Bangladesh
title_short The challenges and opportunities of COVID-19 for Islamic microfinance institutions in Bangladesh
title_full The challenges and opportunities of COVID-19 for Islamic microfinance institutions in Bangladesh
title_fullStr The challenges and opportunities of COVID-19 for Islamic microfinance institutions in Bangladesh
title_full_unstemmed The challenges and opportunities of COVID-19 for Islamic microfinance institutions in Bangladesh
title_sort challenges and opportunities of covid-19 for islamic microfinance institutions in bangladesh
publisher Springer
publishDate 2024
url http://irep.iium.edu.my/117424/1/Chapter%20%28The%20Challenges%20Opportunity%29%20Page%20365-384.pdf
http://irep.iium.edu.my/117424/2/Contemporary%20Business%20Research%20Springer%20Book%202024.pdf
http://irep.iium.edu.my/117424/3/Contributors%20Author%20%28Article%20No%2020%29.pdf
http://irep.iium.edu.my/117424/4/Cover%20Page%20and%20Others.pdf
http://irep.iium.edu.my/117424/
https://link.springer.com/chapter/10.1007/978-981-97-5400-7_20
_version_ 1821105144910053376
score 13.226497

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