Contribution of Islamic Microfinance Studies in Achieving Sustainable Development Goals

Mukhlisin, Murniati; Ismail, Nurizal; Azid, Toseef; Mustafida, Rifka

doi:10.1007/978-3-030-39935-1_4

Cited by 5 publications

(6 citation statements)

References 8 publications

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“…Given the above background, it is very essential that there is a need to compose special accounting presentation to highlight the attention on Zero Waste Accounting by Islamic financial institutions (IFIs). It is due to the motivation that comes from Maqashid ul-Shariah, which is to promote protection of the environment (hifdzul bi'ah or hifdzul 'alam ) (Mukhlisin et al, 2020). However, there is no so far a specific accounting on this issue.…”

Section: Resultsmentioning

confidence: 99%

Zero Waste Accounting for Islamic Financial Institutions in Indonesia and Its Role in Achieving Sustainable Development Goals

Syamlan

Mukhlisin

2020

Etikonomi

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This study aims to propose a model of Zero Waste Accounting in Islamic Financial Institutions in Indonesia and how it is relevant to the achievement of SDGs. Due to the nature of the research which is exploration thus the research adopts interpretative approach which is essential to validate the research with “convincingness” approach rather than positivist measures of the reliability, validity of data and the generalization of results. The finding documents that Zero Waste Accounting is in vein with the spirit of Maqashid ul-Shariah that has been embedded as a part of the purpose of Islamic financial institution establishment. Statement of Sources and Uses of Zero Waste Accounting should become one of the additional disclosures. The paper sheds a light the need on Zero Waste Accounting for the accounting standard setters in Indonesia and the world.

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Section: Resultsmentioning

confidence: 99%

Zero Waste Accounting for Islamic Financial Institutions in Indonesia and Its Role in Achieving Sustainable Development Goals

Syamlan

Mukhlisin

2020

Etikonomi

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“…It is a significant industry in the nation. The journey began with the idea of microcredit, presented by Nobel Peace Laureate Professor Muhammad Yunus via MFB almost forty years ago [13]. The microfinance industry is made up of hundreds of different financial institutions that are active all across the nation.…”

Section: Literature Reviewmentioning

confidence: 99%

“…The primary interest in transparency that can be found in MFIs relates to financial reporting and control (Fig. 1), both of which are often lacking in other types of financial institutions [13]. It is widely held that microfinance clients undergo solid growth due to their involvement with the service.…”

Section: Transparency and Financial Accountabilitymentioning

confidence: 99%

The Governance Structure of Microfinance Institutions: A Comparison of Models of Sustainability and their Implication on Outreach

Uddin

Hamdan

Saad

et al. 2022

AJEBA

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Purpose: This research aims to discover whether or not there is a connection between the governance structure of microfinance institutions (MFIs) and the outreach these organisations provide. The research looks at how the different kinds of MFIs, like Microfinance Banks (MFB) or Self-Help Groups (SHG), Microcredit Programme (MCP), and Rural Development Scheme (RDS), affect the number of people who can use MFIs' services. Design: In the process of the discussions and analysis, one microfinance institution from each of the three models will be considered. The country of Bangladesh will serve as the primary source of empirical study. The questionnaire was sent to the top managers or directors of MFIs to obtain the data for the research. The study relied on secondary data for the most part, which was mainly collected from the annual reports of these MFIs. Findings: The research discovered a connection between the governance structure of MFI outreach and the institution's capacity to maintain its operations. The three models all use the same method of operation, but they are pretty different in terms of the interest rate and the amount of time it takes to repay the debt. Research Limitations: The research is restricted to the materials (annual reports) made accessible by each MFI. Practical Implications: The results of this study are significant for understanding how microfinance will change in the future, as defined by the global development discourse and the public policy decisions that go along with it. Social Implications: The reduction of poverty, the empowerment of the poor, and improved access to financial services all contribute favourably to financial inclusion. It contributes to sustainable economic development. MFIs that have greater outreach and are more sustainable also have a good effect. Originality: The governing structure of MFIs hasn't been extensively studied, which influences the MFIs' outreach.

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“…A notable sharia financial institution offering micro-finance services is Baitul Maal Wat Tamwil (BMT) which is reputed to provide an amalgam of financial, social, and spiritual inclusion for the Indonesian populace. Recent studies have however highlighted the need to engage in more capacity building for the BMT to be able to improve its level of financial inclusion disclosure and enhance its size [ 50 – 54 ]. The above notwithstanding, BMT presents a model to be emulated by Muslim majority countries in providing suitable variants of financial services and intermediation for the grass root to enhance their productivity and bring them out of poverty and deprivation, which is the objectives of the financial inclusion movement, the Sustainable Development Goals (SDGs) and the Shariah.…”

Section: Financial Inclusion In the D-8 Countriesmentioning

confidence: 99%

Expanding the Financial Inclusion Frontiers: An Assessment of the Roles of Developing Eight (D-8) Countries Financial Regulators

Akosile

Sharofiddin

2021

The Importance of New Technologies and Entrepreneurship in Business Development: In the Context of Economic Diversity in Develo

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This study's objective is to embark on an exploratory study to compare the roles played by the several regulators of each of the D-8 countries towards engendering financial inclusion through the Islamic finance offerings in their domain and lessons that can be deduced by their counterparts for adoption and implementation. The study relies on secondary data sourced from official publications, working papers, articles, e-books, websites, and online resources on how the roles played by the financial regulators of the D-8 countries impact on financial inclusion. Content analysis was carried out on the collated data to determine the status of each of the D-8 countries . The study found that while the regulators of some D-8 member countries had maximized the Islamic social finance offerings to combat financial exclusion within their domain, other regulators are yet to maximize same due to factors that include weak political and or administrative will, social peculiarities among others. The study concludes by recommending the adoption of the Islamic social finance instruments in climes where same has yet to be implemented or fully adopted, to shore up the shortfalls of government expenditure, more appositely in this era of shrinking public expenditure and post Covid-19 that has exacerbated the predicament of the financially excluded.

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Contribution of Islamic Microfinance Studies in Achieving Sustainable Development Goals

Cited by 5 publications

References 8 publications

Zero Waste Accounting for Islamic Financial Institutions in Indonesia and Its Role in Achieving Sustainable Development Goals

Zero Waste Accounting for Islamic Financial Institutions in Indonesia and Its Role in Achieving Sustainable Development Goals

The Governance Structure of Microfinance Institutions: A Comparison of Models of Sustainability and their Implication on Outreach

Expanding the Financial Inclusion Frontiers: An Assessment of the Roles of Developing Eight (D-8) Countries Financial Regulators

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