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The Relevance of Islamic Micro-finance in achieving the Sustainable Development Goals

The International Journal of Latest Trends in Finance and Economic Sciences

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Title The Relevance of Islamic Micro-finance in achieving the Sustainable Development Goals
 
Creator Usman, Abubakar Sadiq; Universiti Tun Hussein ONN Malaysia.
Tasmin, Rosmaini; Universiti Tun Hussein ONN Malaysia.
 
Subject Developmental Economics; Islamic Finance; Micro-finance.
Islamic Micro-finance, SDGs, MDGs, Empowerment, Well-being.
 
Description Despite the impressive score card of the Millennium Development Goals (MDGs), it goes to suggest that the Sustainable Development Goals (SDGs) requires targeted efforts in reaching the most vulnerable people worldwide. In Muslim societies, Islamic Micro-finance has been regarded as an important tool for the empowerment of poor people especially women, towards developing micro enterprises. The main objective of this study is to explore the conceptual framework on the relevance of Islamic Micro-finance in achieving the SDGs. This study identifies different products of Islamic Micro-finance used to address diverse deprivations, leading to individual’s personal development, increased productivity and income, and participation in economic and social life. The methodology of this study is based on analysis of relevant literatures. The finding of the study indicates that Islamic Micro-finance is a growing market niche with potentials to develop human capabilities towards empowerment, knowledge and skills, self-reliance and social cohesion. The empowerment enables the clients to manage their economic life effectively, reduce stress and increase security, and participate in the community with self-esteem. 
 
Publisher International Journal of Latest Trends in Finance and Economic Sciences
 
Contributor —
 
Date 2016-07-21
 
Type —
 
Format application/pdf
 
Identifier http://ojs.excelingtech.co.uk/index.php/IJLTFES/article/view/Tasmin
10.2047/ijltfesvol6iss2-1115-1125
 
Source International Journal of Latest Trends in Finance and Economic Sciences; Vol 6, No 2 (2016): June; 1115-1125
 
Language en
 
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