All human beings in this world deserve a better physical and social well-being particularly the quality of life. By having proper well-being and quality of life, the advancement of individual's physical and mental aspect can be assured. This balanced individual will form a stable family unit and later on contribute to a dynamic community in a bigger social entity. However, in order to enhance both physical well-being (PWB) and social well-being (SWB) as well as to attain a good quality of life (QoL), a social disease called poverty must be eliminated. In Indonesia, Islamic Financial Cooperative which is known as Baitul Maal wat Tamwil (BMT) has been influential in enhancing the participants' socio-economic status by providing small scale financial services and social development programs to the poor and low income households. Moreover, this paper purports to show that Islamic Microfinance Institution (IsMFIs) particularly BMT has contributed towards improving the participants' well-being and quality of life. As such, it becomes interesting to firstly find out whether the participants have significantly increased their physical and social well-being after joining BMT for several years. Secondly, having joined BMT, are there any improvement with their quality of life (measured by satisfaction with life).

All human beings in this world deserve a better physical and social well-being particularly the quality of life. By having proper quality of life, the advancement of individual's physical and mental aspect can be assured. As such, the chronic social disease called poverty must be expelled. In Indonesia, Islamic Financial Cooperative which is known as Baitul Maal wat Tamwil (BMT) has been influential in alleviating poverty by providing financing access and social development programs to the poor, low income and the un-bankable. This paper purports to show that Islamic Microfinance Institution (IsMFI) particularly BMT has contributed towards poverty alleviation as well as enhancement of members' well-being and quality of life. As such, it becomes interesting to firstly find out whether the members have significantly increased their income after gaining financing access from BMT. Secondly, are they satisfied in terms of their physical well-being (PWB) and social well-being (SWB). Data from 750 respondents were analyzed using SPSS software. The study found that the members' Income after joining BMT has significantly increased. It also showed that majority of the members were satisfied with their PWB and SWB after joining BMT for several years.

All the human beings in this world deserve to have a better quality of life. In order to achieve the noble notion, the chronic social disease called poverty must be expelled. It is a multidimensional phenomenon that has defied the social, economic and political landscape of every nation and society in various parts of the world. Thus, there is an urgent need to combat poverty and empowering the poor in order to develop both the physical and social well-being as well as to enhance the quality life of the people. One of the effective and powerful tools to combat poverty is by providing microfinance access to the poor ...