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Islamic microfinance in Malaysia: issues and challenges

Kassim, Salina and Kassim, Siti Nadhirah and Othman, Nadhrah (2018) Islamic microfinance in Malaysia: issues and challenges. In: The Second International Conference on the Future of ASEAN (ICoFA 2017), 15th-16th Aug. 2017, Arau, Perlis. (Unpublished)

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Abstract

In many countries, microfinance has been proven to be an effective tool to ena-ble the low income segment of the society to borrow and kick start small busi-nesses. There are three important microfinance institutions in Malaysia, namely Amanah Ikhtiar Malaysia (AIM), Yayasan Usaha Maju (YUM) and Tabung Ekonomi Kumpulan Usahawan Niaga (TEKUN). In accordance to Islamic law, any element of usury must be avoided entirely in economic transactions, hence resulting in the imposition of management fees on the borrowers instead of inter-est. This paper seeks to study the issues and challenges faced by Islamic micro-finance institutions in the Malaysian context.

Item Type: Conference or Workshop Item (Plenary Papers)
Additional Information: 4600/65088
Uncontrolled Keywords: Islamic microfinance, low income, AIM, Malaysia
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HG Finance
H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Institute of Islamic Banking & Finance (IIiBF)
Depositing User: Dr Salina Kassim
Date Deposited: 16 Aug 2018 11:55
Last Modified: 16 Aug 2018 11:55
URI: http://irep.iium.edu.my/id/eprint/65088

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