A Shariah-complaint microfinance fund : a much needed tool for the accomplishment of Islamic economic's goals
Document type: article
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Abstract:
Available evidence suggests that a strong pent-up demand for Islamic microfinance products exist across the Muslim countries. A number of market studies show potentially strong demand in Jordan, Algeria, Yemen, Syria, Indonesia, amongst many other OIC countries. Yet Islamic microfinance instruments are sporadically used, leaving the brunt of alleviating the social problems of the Ummah to charity and welfare traditional organisations. It is suggested that a more structured approach with the use of the modern financial tools, as experienced by the conventional sector with the use of mutual funds, should add credibility to the Islamic finance proposition and help eradicating poverty in the Muslim world.
Authors:
Brugnoni, A.G.
Category:
General
End Page:
37
Serial number:
2
ISSN:
[2210-2175]
Volume:
I
Journal:
Spanda Journal : quarterly of the Spanda Foundation
Keywords:
ethics
,
finance
,
poverty
Language:
eng
Organization:
Spanda Foundation
Year:
2010
Right:
© 2010 Spanda Foundation
Subject:
Economic Development and Trade
Start Page:
35
Title:
A Shariah-complaint microfinance fund : a much needed tool for the accomplishment of Islamic economic's goals