Empowering Rohingya refugees through Islamic microfinance: exploring prospects and challenges in Bangladesh

Uddin, Md. Nazim and Nahar, Lutfun and Md Saad, Norma (2023) Empowering Rohingya refugees through Islamic microfinance: exploring prospects and challenges in Bangladesh. Journal of Islamic Social Finance, 1 (1). pp. 13-23.

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Abstract

Due to the refugee crisis, many Rohingya Muslims have left Myanmar with the hope of a better life in the new places. However, they cannot embark on economic empowerment activities due to lack of access to banking services. Islamic microfinance has the potential to solve the financial marginalization issue among the Rohigyan refugees based on fairness, social justice, and ethics. This study aims to assess the potentials of Islamic microfinance in addressing this issue as well as identify the challenges in implementing such programs. The study also explores the role of Islamic microfinance in promoting entrepreneurship and socioeconomic integration, and provides recommendations for its effective implementation. Currently, there is a literature gap in the adoption of Islamic microfinance targeting Rohingya refugees in Bangladesh. This study provides relevant inputs for refugee policymakers, practitioners, and humanitarian organizations in tailoring interventions to the Rohingyan refugees needs and ambitions. In methodology, the study adopts qualitative semi-structured interviews with NGO experts in Cox's Bazar, Bangladesh which is currently the center for Rohingya refugees. Interview replies and document evaluations will provide insight into experts' viewpoints and experiences. Findings of this study help to identify the opportunities and problems to assist policymakers and practitioners in successfully implementing Islamic microfinance projects, boosting Rohingya refugees' chances for a sustainable future.

Item Type:	Article (other)
Uncontrolled Keywords:	Rohingya refugees; Islamic microfinance; Bangladesh; empowerment; prospects; challenges; socio-economic integration
Subjects:	BPH Islamic Economics > BPH72 Economic development. Growth. Sustainable development. Sustainability
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Centre for Islamic Economics Kulliyyah of Economics and Management Sciences Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User:	Prof. Dr Norma Md Saad
Date Deposited:	02 Oct 2023 12:22
Last Modified:	02 Oct 2023 12:23
URI:	http://irep.iium.edu.my/id/eprint/107187

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