Redzuan, Nur Harena and Bashir, Amir Abidin (2021) A Study on the Sustainability of Microfinance Institutions in Serving the Low-Income Group in Malaysia. Turkish Journal of Islamic Economics (TUJISE), 8 ((Special Issue - Islamic Social Finance and Pandemic Crisis)). pp. 339-353. ISSN 2147-9054 E-ISSN 2148-3809
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Abstract
A microfinance scheme was introduced in Malaysia in the year 1987 as one of the alternatives to poverty eradication strategies in the country by the government. Since then, several institutions have been created to carry out the agenda of providing small loans to the low-income group to start up their small-scale business to generate more sources of income to support their household consumption. However, for a certain reason, people still do not find microfinance an important tool to uplift their economic positions. Most of the low-income groups are still unaware of this golden opportunity tailored for them. Besides, the sustainability of these subsidized microfinance systems implemented by Malaysia had not been appropriately studied. This study explores the attractiveness of the products offered by microfinance institutions and emphasizes the option that the participants must start utilizing the product. This research also explores microfinance facilities that contain conventional finance element which is prohibited in Islamic trade. The study also discusses the measures and actions taken by microfinance institutions in serving the low-income group in Malaysia. This paper employs a qualitative method through interviews and content analysis. The report, journal publications, and other related documents were also analyzed in achieving the objectives. The study provides the impact that it may pave the way to an indistinct understanding of how Islamic microfinance institutions sustain their operations.
| Item Type: | Article (Journal) |
|---|---|
| Uncontrolled Keywords: | Microfinance, sustainability, low-income group |
| Subjects: | BPH Islamic Economics > BPH72 Economic development. Growth. Sustainable development. Sustainability 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: | Nur Harena Redzuan |
| Date Deposited: | 22 Dec 2021 14:57 |
| Last Modified: | 22 Dec 2021 14:57 |
| URI: | http://irep.iium.edu.my/id/eprint/95138 |
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