A Review Paper on Islamic Microfinance Features Opportunities and Challenges [2019] (original) (raw)

Islamic microfinance has been widely recognized as an effective development tool for poverty reduction and wellbeing development, especially among those who are deprived of accessing to conventional credit services. The interested things about Islamic microfinance is the fairness of this scheme in which win to win strategy which is the main principle in Islam Sariah. On other word, this model argues that poor people have the right to enjoy with credit that is off interest and the bank share both profit and loss with the borrowers. This offers new insight in how to steadily combat poverty. However, despite its advantages there are challenges that constrain its development. In addition, many studies have conducted to explore how microfinance combat poverty in many countries. Yet, the Islamic microfinance has not received adequate attention. Therefore, this study is a review paper discusses the concept of Islamic microfinance and how it differs from others. It also shows the challenges that surround Islamic microfinance development either in sustainability or outreach Keyword: A review, Paper, Islamic, Microfinance, Features, Opportunities, Challenges.

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