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Financial citizenship barriers among Muslim micro-entrepreneurs in Ilorin, Nigeria: a factorial invariance analysis

Adewale, Abideen Adeyemi and Pramanik, Ataul Huq and Mydin Meera, Ahamed Kameel (2014) Financial citizenship barriers among Muslim micro-entrepreneurs in Ilorin, Nigeria: a factorial invariance analysis. In: Islamic microfinance for sustainable development. Islamic Research and Training Institute, Jeddah, Saudi Arabia, pp. 230-249. ISBN 978-9960-32-274-2

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Abstract

This study examines the factors that explain the lack of financial citizenship among selected respondent poor households in the inner city of a densely Muslim populated area. Specifically, Ilorin, Kwara State, North Central geo-political zone of Nigeria was the study area in this regard. Data elicited via a survey questionnaire was analysed using both the SPSS 17.0 and Amos 17.0 software. Based on both the exploratory and confirmatory factor analyses, the study revealed that the barrier factors can be divided into two broad categories. While debt phobia, religion, financial complacency, and cultural capital explain voluntary exclusion, affordability and eligibility factors explain the involuntary financial exclusion barriers. The results indicate that the lack of financial citizenship is explained by both lack of access and unwillingness to patronise certain sources of funds. Factorial indifference was also found along demographic divides of the respondents except for age and primary occupation in which case no difference was found between the trading and non-trading micro entrepreneurs.

Item Type: Book Chapter
Additional Information: 6700/46482
Uncontrolled Keywords: Financial Citizenship, Cultural Capital, Eligibility, Affordability, Factorial Invariance
Subjects: H Social Sciences > HA Statistics
H Social Sciences > HG Finance
H Social Sciences > HG Finance > HG3691 Credit
Kulliyyahs/Centres/Divisions/Institutes: Institute of Islamic Banking & Finance (IIiBF)
Depositing User: Dr. Abideen Adeyemi Adewale
Date Deposited: 11 Mar 2016 10:56
Last Modified: 18 Apr 2016 08:12
URI: http://irep.iium.edu.my/id/eprint/46482

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