An investigation into the financial sustainability of Islamic Saving, Credit Cooperative Society (SACCOS) in Tanzania

The purpose of this paper is to assess the financial sustainability of Islamic Saving Credit Corporative Society (SACCOS) and the factor(s) affecting their financial sustainability in the Tanzanian context.The data set used in this study comes from four SACCOS audited financial reports from the year...

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Main Authors:	Said, Mariam Swalehe, Annuar, Hairul Azlan, Hamdan, Hamdino
Format:	Article
Language:	English
Published:	Emerald Group Publishing Limited 2019
Subjects:	HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/73341/ http://irep.iium.edu.my/73341/ http://irep.iium.edu.my/73341/ http://irep.iium.edu.my/73341/8/73341%20An%20investigation%20into%20the%20financial%20sustainability.pdf

id	iium-73341
recordtype	eprints
spelling	iium-733412020-02-07T03:05:43Z http://irep.iium.edu.my/73341/ An investigation into the financial sustainability of Islamic Saving, Credit Cooperative Society (SACCOS) in Tanzania Said, Mariam Swalehe Annuar, Hairul Azlan Hamdan, Hamdino HG3368 Islamic Banking and Finance The purpose of this paper is to assess the financial sustainability of Islamic Saving Credit Corporative Society (SACCOS) and the factor(s) affecting their financial sustainability in the Tanzanian context.The data set used in this study comes from four SACCOS audited financial reports from the year 2010 to 2014 and from interviews with SACCOS’s management.The study found that the IMFIs in Tanzania are not financially sustainable. Additionally, having responsible staff members, regular review of financial guidelines, education to members, cooperation between employees and management and staff training are found to be highly contributing factors towards SACCOS’s financial sustainability. Moreover, the findings reveal that depending on the single source of income, i.e., charges on members contributed much in these SACCOS’s not being financially sustainable.Only two available registered Islamic SACCOS was used. Additionally, conventional SACCOS have been in service provision for a long time as compared to Islamic ones; hence, caution must be taken for comparison purposes. Based on these findings, the Islamic SACCOS needs to initiate productive projects that can enable them to have other income sources apart from charges on members. This study traces the financial trend of Islamic SACCOS in Tanzania since its establishment in 2010. Such trace enables Islamic SACCOS and other stakeholders to be aware on the financial progress of Islamic SACCOS and act accordingly to ensure sustainability. Emerald Group Publishing Limited 2019-05-07 Article PeerReviewed application/pdf en http://irep.iium.edu.my/73341/8/73341%20An%20investigation%20into%20the%20financial%20sustainability.pdf Said, Mariam Swalehe and Annuar, Hairul Azlan and Hamdan, Hamdino (2019) An investigation into the financial sustainability of Islamic Saving, Credit Cooperative Society (SACCOS) in Tanzania. International Journal of Ethics and Systems, 35 (2). pp. 242-259. ISSN 2514-9369 https://www.emerald.com/insight/content/doi/10.1108/IJOES-11-2018-0159/full/html 10.1108/IJOES-11-2018-0159
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG3368 Islamic Banking and Finance
spellingShingle	HG3368 Islamic Banking and Finance Said, Mariam Swalehe Annuar, Hairul Azlan Hamdan, Hamdino An investigation into the financial sustainability of Islamic Saving, Credit Cooperative Society (SACCOS) in Tanzania
description	The purpose of this paper is to assess the financial sustainability of Islamic Saving Credit Corporative Society (SACCOS) and the factor(s) affecting their financial sustainability in the Tanzanian context.The data set used in this study comes from four SACCOS audited financial reports from the year 2010 to 2014 and from interviews with SACCOS’s management.The study found that the IMFIs in Tanzania are not financially sustainable. Additionally, having responsible staff members, regular review of financial guidelines, education to members, cooperation between employees and management and staff training are found to be highly contributing factors towards SACCOS’s financial sustainability. Moreover, the findings reveal that depending on the single source of income, i.e., charges on members contributed much in these SACCOS’s not being financially sustainable.Only two available registered Islamic SACCOS was used. Additionally, conventional SACCOS have been in service provision for a long time as compared to Islamic ones; hence, caution must be taken for comparison purposes. Based on these findings, the Islamic SACCOS needs to initiate productive projects that can enable them to have other income sources apart from charges on members. This study traces the financial trend of Islamic SACCOS in Tanzania since its establishment in 2010. Such trace enables Islamic SACCOS and other stakeholders to be aware on the financial progress of Islamic SACCOS and act accordingly to ensure sustainability.
format	Article
author	Said, Mariam Swalehe Annuar, Hairul Azlan Hamdan, Hamdino
author_facet	Said, Mariam Swalehe Annuar, Hairul Azlan Hamdan, Hamdino
author_sort	Said, Mariam Swalehe
title	An investigation into the financial sustainability of Islamic Saving, Credit Cooperative Society (SACCOS) in Tanzania
title_short	An investigation into the financial sustainability of Islamic Saving, Credit Cooperative Society (SACCOS) in Tanzania
title_full	An investigation into the financial sustainability of Islamic Saving, Credit Cooperative Society (SACCOS) in Tanzania
title_fullStr	An investigation into the financial sustainability of Islamic Saving, Credit Cooperative Society (SACCOS) in Tanzania
title_full_unstemmed	An investigation into the financial sustainability of Islamic Saving, Credit Cooperative Society (SACCOS) in Tanzania
title_sort	investigation into the financial sustainability of islamic saving, credit cooperative society (saccos) in tanzania
publisher	Emerald Group Publishing Limited
publishDate	2019
url	http://irep.iium.edu.my/73341/ http://irep.iium.edu.my/73341/ http://irep.iium.edu.my/73341/ http://irep.iium.edu.my/73341/8/73341%20An%20investigation%20into%20the%20financial%20sustainability.pdf
first_indexed	2023-09-18T21:43:58Z
last_indexed	2023-09-18T21:43:58Z
_version_	1777413325890519040

An investigation into the financial sustainability of Islamic Saving, Credit Cooperative Society (SACCOS) in Tanzania

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