Impact assessment of Islamic micro-finance on the religious, ethical and social well-being of participants: A case study of Pakistan

Poverty is considered one of the basic problems confronted by the developing and underdeveloped countries of the world including Muslim majority countries like Pakistan. During the last two decades, microfinance institutions have been rapidly established all around the world on the premise that they...

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Main Authors:	Ahmad, Khaliq, Abideen Adeyemi, Adewale, Nauman Khan, Mohamad
Format:	Article
Language:	English English
Published:	IIUM Press 2017
Subjects:	HJ1438 Public Finance In Islam
Online Access:	http://irep.iium.edu.my/59945/ http://irep.iium.edu.my/59945/ http://irep.iium.edu.my/59945/1/Prof.%20Khaliq-AsShajarah%20%28SI%20-%20IIBF%29.pdf http://irep.iium.edu.my/59945/7/59945_Impact%20assessment%20of%20Islamic%20microfinance_scopus.pdf

id	iium-59945
recordtype	eprints
spelling	iium-599452019-08-15T06:25:35Z http://irep.iium.edu.my/59945/ Impact assessment of Islamic micro-finance on the religious, ethical and social well-being of participants: A case study of Pakistan Ahmad, Khaliq Abideen Adeyemi, Adewale Nauman Khan, Mohamad HJ1438 Public Finance In Islam Poverty is considered one of the basic problems confronted by the developing and underdeveloped countries of the world including Muslim majority countries like Pakistan. During the last two decades, microfinance institutions have been rapidly established all around the world on the premise that they can alleviate poverty. These institutions open new horizons of economic development. But majority of Muslim populace yearn for Islamic products over conventional microfinance products on account of religious injunctions against paying interest. This paper attempts to analyze the multilevel impact of Islamic microfinance on two Pakistani cities (Multan and Lahore) poor population. This has three dimensions at (i) household level, (ii) enterprise level and (iii) religious, social & ethical levels. Primary data has been collected from the program participants of microfinance institutions in Pakistan, Akhuwat and Wasil Foundations, by employing cross-sectional design with stratified random sampling method. Pearson’s Chi-Square χ2, Yates Continuity Correction, Cramer’s V (φ) and Odds Ratio are used to quantify the difference between established clients (more than one year) and new clients (less than one year). The results of the study support the wide literature on a belief that microfinance can significantly improve the socio-economic and religious status of the participants. IIUM Press 2017-12 Article PeerReviewed application/pdf en http://irep.iium.edu.my/59945/1/Prof.%20Khaliq-AsShajarah%20%28SI%20-%20IIBF%29.pdf application/pdf en http://irep.iium.edu.my/59945/7/59945_Impact%20assessment%20of%20Islamic%20microfinance_scopus.pdf Ahmad, Khaliq and Abideen Adeyemi, Adewale and Nauman Khan, Mohamad (2017) Impact assessment of Islamic micro-finance on the religious, ethical and social well-being of participants: A case study of Pakistan. Al-Shajarah, Special Issue: Islamic Banking and Finance. pp. 265-296. ISSN 1394-6870 http://journals.iium.edu.my/shajarah/index.php/shaj/issue/archive
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HJ1438 Public Finance In Islam
spellingShingle	HJ1438 Public Finance In Islam Ahmad, Khaliq Abideen Adeyemi, Adewale Nauman Khan, Mohamad Impact assessment of Islamic micro-finance on the religious, ethical and social well-being of participants: A case study of Pakistan
description	Poverty is considered one of the basic problems confronted by the developing and underdeveloped countries of the world including Muslim majority countries like Pakistan. During the last two decades, microfinance institutions have been rapidly established all around the world on the premise that they can alleviate poverty. These institutions open new horizons of economic development. But majority of Muslim populace yearn for Islamic products over conventional microfinance products on account of religious injunctions against paying interest. This paper attempts to analyze the multilevel impact of Islamic microfinance on two Pakistani cities (Multan and Lahore) poor population. This has three dimensions at (i) household level, (ii) enterprise level and (iii) religious, social & ethical levels. Primary data has been collected from the program participants of microfinance institutions in Pakistan, Akhuwat and Wasil Foundations, by employing cross-sectional design with stratified random sampling method. Pearson’s Chi-Square χ2, Yates Continuity Correction, Cramer’s V (φ) and Odds Ratio are used to quantify the difference between established clients (more than one year) and new clients (less than one year). The results of the study support the wide literature on a belief that microfinance can significantly improve the socio-economic and religious status of the participants.
format	Article
author	Ahmad, Khaliq Abideen Adeyemi, Adewale Nauman Khan, Mohamad
author_facet	Ahmad, Khaliq Abideen Adeyemi, Adewale Nauman Khan, Mohamad
author_sort	Ahmad, Khaliq
title	Impact assessment of Islamic micro-finance on the religious, ethical and social well-being of participants: A case study of Pakistan
title_short	Impact assessment of Islamic micro-finance on the religious, ethical and social well-being of participants: A case study of Pakistan
title_full	Impact assessment of Islamic micro-finance on the religious, ethical and social well-being of participants: A case study of Pakistan
title_fullStr	Impact assessment of Islamic micro-finance on the religious, ethical and social well-being of participants: A case study of Pakistan
title_full_unstemmed	Impact assessment of Islamic micro-finance on the religious, ethical and social well-being of participants: A case study of Pakistan
title_sort	impact assessment of islamic micro-finance on the religious, ethical and social well-being of participants: a case study of pakistan
publisher	IIUM Press
publishDate	2017
url	http://irep.iium.edu.my/59945/ http://irep.iium.edu.my/59945/ http://irep.iium.edu.my/59945/1/Prof.%20Khaliq-AsShajarah%20%28SI%20-%20IIBF%29.pdf http://irep.iium.edu.my/59945/7/59945_Impact%20assessment%20of%20Islamic%20microfinance_scopus.pdf
first_indexed	2023-09-18T21:24:58Z
last_indexed	2023-09-18T21:24:58Z
_version_	1777412130342961152

Impact assessment of Islamic micro-finance on the religious, ethical and social well-being of participants: A case study of Pakistan

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