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Purpose Despite being a Muslim-dominated country, Bangladesh has widely embraced traditional microfinance since its inception in the mid-1970s. However, Islamic microfinance, which has a lot to offer to the poor, is still in its i...
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Purpose Despite being a Muslim-dominated country, Bangladesh has widely embraced traditional microfinance since its inception in the mid-1970s. However, Islamic microfinance, which has a lot to offer to the poor, is still in its infancy and has yet to gain momentum in the country. Therefore, the purpose of this study is to analyze the importance of Islamic microfinance and propose alternative Shariah-compliant microfinance models in Bangladesh.Design/methodology/approach This study is based on the desk research method, which relies on existing literature to collect secondary data on key concerns of traditional microfinance programs. In addition, institutional-level secondary data were also collected from the Microcredit Regulatory Authority (MRA) of Bangladesh. Guided by the Maqasid-al-Shariah, this study then proposes several Islamic microfinance models to overcome selected challenges faced by the microfinance industry in Bangladesh.Findings This study suggested three composite Shariah-compliant microfinance models, which are likely to help the underprivileged and thus ensure the achievement of the sustainable development goals in Bangladesh. The first model explained how the operational strategy of incumbent microfinance institutions (MFIs) could be restructured, while the second proposed the organizational strategies for establishing a new MFI. The third model used the notion of Sadaqah (charity) to address the multiple borrowing issues of the industry. Meanwhile, the successful transformation of the conventional microfinance industry to an Islamic one is dependent on the effective collaboration between the regulatory authorities, practitioners and MFIs.Originality/value Albeit the paucity of literature on the topic, the findings of this study will guide policymakers/practitioners in designing relevant microfinance models to help transform conventional microfinance into Islamic microfinance in Bangladesh.
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The astonishing propagation of microfinance institutions (MFIs) around the world has been followed by an indiscriminate proliferation of concepts for describing these organizations. These have in common the tendency to overlook th...
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The astonishing propagation of microfinance institutions (MFIs) around the world has been followed by an indiscriminate proliferation of concepts for describing these organizations. These have in common the tendency to overlook the historical roots of microfinance, to disregard some types of MFIs, to impose arbitrarily discrete categories over a non-uniform field, and to neglect important constitutive attributes inherent to all MFIs. This conceptual fuzziness brings about several theoretical and practical obstacles. In this paper we address this issue by providing a two-dimensional framework built on the five constitutive attributes inherent to all MFIs to reduce microfinance conceptual blurriness. In doing so, we deliver a threefold contribution: 1) We address the call to reduce the conceptual fuzziness within the micro finance field by providing a tool for characterizing and distinguishing between the different MFIs based on their constitutive attributes across this industry. In addition, we advance the growing literature on microfinance that considers MFIs as hybrid organizations. 2) By exposing these five attributes, we dislocate the focus of policy makers from one idealistic (and limiting) best model of MFIs to account for a more diverse range of organizational configurations which provides the possibility of a better fit for their specific target public and context. 3) Finally we expose how the different types of microfinance can foster sustainable development. (C) 2015 Elsevier Ltd. All rights reserved.
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The current article discusses the conceptual framework of microfinance where it provides a debate on microfinance and poverty alleviation. It aims to provide an understanding regarding the working of conventional as well as Islami...
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The current article discusses the conceptual framework of microfinance where it provides a debate on microfinance and poverty alleviation. It aims to provide an understanding regarding the working of conventional as well as Islamic microfinance through different microfinance models that are operating across the globe. At the same time, it also presents a critique of microfinance and discusses a case of interest-free microfinance with special reference to Jammu and Kashmir as an alternative to conventional microfinance system. The main aim of these alternatives is to overcome the problems faced by its conventional counterpart.
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European countries use microfinance as an instrument of development cooperation in three separate forms, which differ in the financial flow. In the first type, the government transfers grant money to their non-government organi-za...
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European countries use microfinance as an instrument of development cooperation in three separate forms, which differ in the financial flow. In the first type, the government transfers grant money to their non-government organi-zations (NGOs), which then distribute the funds directly to the local microfinance institutions (MFIs) (eg. Finland). In the second form, the funds are sent through to the branch-offices of the NGOs located in the developed country to developing countries (eg. Norway, Sweden). The third type allows for a direct relationship between a donor country development co-operation agency and a local microfinance institution in a developing country without intermediation of the developed country NGOs (eg. Great Britain, Germany). The Czech Republic currently does not support microfinance by the direct/indirect transfer of funds, but it promotes the awareness of the Czech NGOs and the public of microfinance as a tool for the economic development.
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The microfinance industry, over the past four decades has grown to become a major development tool of the world, both in terms of beneficiaries as well as the financial inputs that it received. The microfinance concept assumes tha...
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The microfinance industry, over the past four decades has grown to become a major development tool of the world, both in terms of beneficiaries as well as the financial inputs that it received. The microfinance concept assumes that, ceteris paribus, credit to the poor, would lead to increased jobs, household well-being and poverty reduction. However, to date, no study has established a link between microcredit and wage employment, which is critical for poverty reduction. This paper argues that microcredit is critical for survivalist self-employment but it does not necessily lead to the creation of wage employment for the jobless. This evidence is from an assessment of how microcredit has contributed to business performance of the clients of the Upper Manya Krobo Rural Bank’s microcredit programme in the Eastern Region of Ghana. The paper is based on a doctoral research output that used mixed method approach to collect data from a sample of 420 exits, repeated and permanent microcredit clients. The paper is of the view that microcredit may not lead to paid employment but can help clients start, improve and expand micro-enterprises. Enterprise expansion in this context refers to adding other products/services similar to the existing activity rather than the clients establishing new employable wage enterprises for the jobless.
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The study on microfinance impact assessment: linkage of financial inclusion to welfare conditions of the MFI’s clients in Rwanda was conducted with the aim of assessing the impact of microfinance through financial inclusion and w...
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The study on microfinance impact assessment: linkage of financial inclusion to welfare conditions of the MFI’s clients in Rwanda was conducted with the aim of assessing the impact of microfinance through financial inclusion and welfare conditions of MFI’s clients in Rwanda. The study analyzed the financial indicators that were displayed by factsheet tool and the influence of financial inclusion to the welfare conditions of MFI’s clients by Statistical Package for Social Sciences (SPSS). A questionnaire was addressed to a calculated sample of 164 of clients to respond to the question for primary data and secondary data have been collected as well, to validate the primary data. In the paired analysis, there was a statistically significant increase the type of business from Time 1(M=2.6466, SD=1.58986) to Time 2 (M=4.1429, SD=2.09669), t (132)=a??7.252, p<000. The magnitude of the difference in the means was large (eta squared 0.346). There was a statistically significant increase own assets from Time 1(M=4.6692, SD=2.5841) to Time 2 (M=7.1654, SD=3.3826), t(132)=a??8.219, p<000. The magnitude of the difference in the means was large (eta squared 0.405). According paired t-test, there is significant impact of financial inclusion. This is confirmed by the p-value (p<0.0001) which says that the test is highly significant. Also the profit is positively correlated to both type of saving and type of repayment. An increase the type of saving and type of repayment will also increase the net profit. When the distance is lower, clients are matures enough and improve gender equity, those contribute to increase the net profit to 32.5%, 23.7%, 22.4%, 22.5% and 26.5% unit respectively. It has been confirmed that the financial inclusion influences the positive change of welfare conditions of MFIs clients.
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The present research named “Financial inclusion and financial performance of microfinance institutions in Rwanda: Case of CLECAM EJOHEZA KAMONYI (2011-2014)”, had the main objective of evaluating the implementation of financial ...
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The present research named “Financial inclusion and financial performance of microfinance institutions in Rwanda: Case of CLECAM EJOHEZA KAMONYI (2011-2014)”, had the main objective of evaluating the implementation of financial inclusion in microfinance institutions in Rwanda. The study used the techniques of questionnaire addressed to a sample of 162 calculated from a total population 11.121 CLECAM EJOHEZA KAMONYI members in collection of primary data and the technique of documentation for secondary data. During the treatment and analysis of data, the frequency calculation and tabulation, the IMF Factsheet and multiple regressions have been used. The major findings show that 70.4% of all respondents have been pushed by quick service and appropriate products to join LECAM EJOHEZA KAMONYI. 18.1% of all respondents choose this institution because it operates near for them while 11.5% of respondents said that they choose this institution for other reasons. 63.6% of all respondents said that the product and services respond to their needs on the level of excellent, 36.4% of all respondent are satisfied by the products and services on a very good the level. CLECAM EJOHEZA KAMONYI performs financially. In 2014, the portfolio at risk was 2.2%, the Operating Self-Sufficiency arrived at 143%, the portfolio yield was 25.6% while Operating expense ratio was 17%. The evolution of deposit depends on the number of members of CLECAM EJOHEZAKAMONYI, but the number of branches does not affect the deposits. The Operating expense depends on the number of branches but not on the number of members. The evolution of members has effect on evolution of share capital but the number of branches does not affect the evolution of paid up share capital. The deposits are correlated positively to net income at 92.6%.
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Summary Motivation Although female clients are the main target of most Microfinance Institutions (MFIs), male–female workforce ratio in microfinance operations is not proportionate. There is a consensus that a greater female pres...
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Summary Motivation Although female clients are the main target of most Microfinance Institutions (MFIs), male–female workforce ratio in microfinance operations is not proportionate. There is a consensus that a greater female presence in the workforce at all hierarchical levels could enhance the financial performance of MFIs thanks to women’s tougher commitments and better managing capacity. Purpose There is scarce research investigating which hierarchical levels of female workforce contribute to MFIs’ financial performance. This study aims at filling this gap by jointly analysing the effect of female participation at all hierarchical levels of MFIs, which is relatively rare in the existing literature, especially in microfinance. Methods and approach We use data from 172 MFIs in Eastern Europe and Central Asian countries (EECA) for the period 1996–2014. The data were then analysed by ordinary least squares, fixed, and random effects models, along with several diagnostic tests. Findings We find that female board members and female clients contribute positively to the financial performance of MFIs. The literature presents these outcomes as being due to women’s’ better organizational and monitoring techniques, and more responsible use of loans, respectively. However, our analysis shows that female managers and loan officers may impair financial performance to some extent, possibly because they face cultural limitations and safety obstacles, resulting in their being less persuasive and effective than men, especially in the process of collecting arrears payments. Policy implications Our study suggests that MFIs in the EECA context may improve their financial sustainability by reconsidering their organizational choices, such as operational recruitment, placing women at the top of the decision‐making process. At the lower levels of the hierarchy, particularly loan officers, it would be advisable to support them in the interaction with male customers, so that they can adopt more effective techniques in the loan collection phases. MFIs can also scale up their loan activities to more women since their representation in the client base is relatively low in the EECA region.
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This paper quantitatively analyzes the literature on Islamic microfinance from early 2000 to 2020, as represented by English-language articles from the Scopus database. Using a bibliometric approach plus content analysis, we descr...
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This paper quantitatively analyzes the literature on Islamic microfinance from early 2000 to 2020, as represented by English-language articles from the Scopus database. Using a bibliometric approach plus content analysis, we describe the field's evolution and structure, including co-citation, co-authorship, and bibliographical coupling. We find that Malaysia is the most relevant country, the International Islamic University Malaysia (HUM) the most relevant institution, and the International Journal of Systems and Ethics the most relevant journal. There are four main topics: (1) principles, performance, and problems in Islamic microfinance, (2) sustainable development, (3) women's empowerment, and (4) the role of banks. We also offer future research directions.
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Purpose - Performance assessment of microfinance institutions (MFIs) has long been a question of considerable research interest. The dual goals - financial performance and social performance of MFIs widely studied yet remain unsol...
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Purpose - Performance assessment of microfinance institutions (MFIs) has long been a question of considerable research interest. The dual goals - financial performance and social performance of MFIs widely studied yet remain unsolved in the existing literature. To assess the knowledge structure of research in this area and to aid future research, we review the literature with bibliometric analysis. Design/methodology/approach - Our study has used bibliographic data of 1,252 scientific documents indexed in the Scopus database from 1995 to 2020 (June 05). We have used the "bibliometrix" package in R language to analyze the data and illustrate the findings. Findings - We find that there has been an increasing trend in publications, especially from 2006 onwards. Various bibliometric indicators allow us to folio w the progression of knowledge along with identifying the most contributing and impactful authors, publication sources, institutions and countries. We illustrate the major research themes and identify that "poverty alleviations", "group lending" and "credit scoring" are the major emerging and specialized themes besides the basic research evolved around "microfinance" or "microcredit". Our further analysis of thematic evolution over different time frames reveals that "financial performance" aspect is getting more attention in recent times in evaluating the performance of MFIs. Originality/value - The insights of knowledge accumulated from our bibliometric review and thematic analysis provide researchers with an efficient comprehension of the advancement of the research on microfinance performance and offer avenues for future scientific endeavors.
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