Publication:
Waqf and Microfinance Integration for Enabling Sustainable Financial Inclusion: Analysis of Shari'ah Compliance
| DC Field | Value | |
|---|---|---|
| dc.contributor.author | Sa'id Adekunle Mikail | |
| dc.contributor.author | Fares Djafri | |
| dc.contributor.author | Mahadi Ahmad | |
| dc.date.accessioned | 2024-10-11T02:05:56Z | |
| dc.date.available | 2024-10-11T02:05:56Z | |
| dc.date.issued | 2024 | |
| dc.description.abstract | Purpose — Sustainability has remained one of the most significant challenges facing the microfinance industry, and Islamic microfinance is no exception. The need for Sharīʿah compliance poses an additional challenge for the Islamic microfinance industry. Many practitioners have argued that, in practice, social missions should be sacrificed for profitability so that microfinance institutions (MFIs) could achieve sustainability and competitiveness in the finance market. This paper investigates the potential of integrating waqf and microfinance to allay the challenge of balancing social responsibility (outreach) and financial sustainability within Islamic MFIs. Additionally, it analyses the Sharīʿah compliance requirements underpinning this integration. Design/Methodology/Approach — This study adopts a qualitative method of inquiry, utilising an inductive approach to understand the conceptual framework of waqf and financial inclusion and in discussing Sharīʿah compliance aspects of socially-oriented instruments in socio-economic development. Findings — The research finds some historical antecedents to evidence the inherent social mission of waqf which, if integrated with microfinance, ensures the sustainability of Islamic MFIs. This affirms that outreach and sustainability may not be mutually exclusive under waqf and Islamic microfinance integration. Originality/Value — This study, through historical antecedents and contemporary practices, establishes that waqf and microfinance integration can address the sustainability of the Islamic microfinance industry and preserve its social mission. | en_US |
| dc.identifier.citation | Mikail, S. A., Djafri, F. ., & Ahmad, M. (2024). Waqf and Microfinance Integration for Enabling Sustainable Financial Inclusion: Analysis of Shari'ah Compliance. International Journal of Islamic Finance and Sustainable Development, 16(3), 43 | en_US |
| dc.identifier.doi | https://doi.org/10.55188/ijifsd.v16i3.901 | |
| dc.identifier.issn | 3030-6442 | |
| dc.identifier.uri | https://ikr.inceif.edu.my/handle/INCEIF/4104 | |
| dc.language | English | |
| dc.language.iso | eng | en_US |
| dc.publisher | International Shari'ah Research Academy for Islamic Finance (ISRA) | en_US |
| dc.rights | 2024. International Shari'ah Research Academy for Islamic Finance (ISRA) | |
| dc.source | SEDONA | |
| dc.subject | Financial inclusion | en_US |
| dc.subject | Islamic microfinance | en_US |
| dc.subject | Shar'ah compliance | en_US |
| dc.subject | Shar'ah objective | en_US |
| dc.subject | Sustainability | en_US |
| dc.subject | Waqf | en_US |
| dc.title | Waqf and Microfinance Integration for Enabling Sustainable Financial Inclusion: Analysis of Shari'ah Compliance | en_US |
| dc.type | Journal Article | en_US |
| dspace.entity.type | Publication | |
| ikr.doctype | Scholarly Works | |
| ikr.topic.maintopic | Waqf | en_US |
| relation.isAuthorOfPublication | 54ea4ea3-9539-4669-a97e-4c903fc80129 | |
| relation.isAuthorOfPublication | d897eeb7-8ae6-4576-9fab-a5da414b5b8e | |
| relation.isAuthorOfPublication | 538802b4-db52-486b-8c50-6dd4dcdf6433 | |
| relation.isAuthorOfPublication.latestForDiscovery | 54ea4ea3-9539-4669-a97e-4c903fc80129 | |
| Appears in Collections |
Files
Original bundle
1 - 1 of 1
waqf_microfinance_integration_enabling_sustainable_financial_inclusion_analysis sharaih_compliance_faris_adekunle_mahadi.pdf
Size: 588.72 KB Format: Adobe Portable Document Format
Views: 3 Downloads: 5