Cooperative Finance and Sustainability After the Financial Crisis

Azmi, Rania A.

doi:10.1108/s2043-9059(2011)0000002017

Cited by 5 publications

(7 citation statements)

References 2 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…En este sentido, las cooperativas de crédito como entidades ligadas a la Economía Social se posicionan como un elemento esencial en el freno de la despoblación (Carchano y Carrasco, 2020), ya que actúan como agentes dinamizadores de los recursos y activos locales (Eversole et al, 2013), favoreciendo el desarrollo de las zonas rurales (Mozas y Bernal, 2006), a través de la creación de puestos de trabajo estables y de calidad (Calderón y Calderón, 2012), el apoyo a otras empresas basadas principalmente en la agricultura, distribución comercial, vivienda o trabajo asociado (Chaves y Monzón, 2007) y la generación de actividad económica en general (Tomás et al, 1998). De esta forma, las cooperativas de crédito contribuyen a la dinamización económica de las regiones (Giagnocavo et al, 2012), al mismo tiempo que contribuyen al bienestar social (Azmi, 2015). Igualmente, Ureña et al (2013), destacan el papel clave que tienen las cooperativas de crédito en el logro de la completa inclusión financiera.…”

Section: Características Socioeconómicas De La España Vaciadaunclassified

El papel de las cooperativas de crédito en el sostenimiento de la España vaciada a través del capital social

Carchano

Monteagudo

Tormo

2021

REVE

View full text Add to dashboard Cite

El sistema bancario viene experimentando grandes transformaciones, marcadas por la disminución del número de entidades y la concentración del negocio. Las cooperativas de crédito han logrado mantenerse relativamente aisladas de las turbulencias financieras de la pasada crisis gracias a políticas de inversión prudentes y la clara vocación territorial y de proximidad con el entorno, características que, junto con su carácter cooperativo, se han convertido en las principales fortalezas de este tipo de entidades de crédito. Por otra parte, la creciente desatención del sistema bancario hacia los territorios en retroceso demográfico ha propiciado la exclusión financiera de sus habitantes. En este contexto, el objetivo de este trabajo consiste en presentar la importancia de las cooperativas de crédito en España, sobre todo en aquellas provincias de menor densidad de población. Para ello, se presenta un estudio que pone de manifiesto la estrecha relación existente entre las cooperativas de crédito y la financiación del desarrollo regional. Las cooperativas de crédito, a costa de su menor rentabilidad económica, se ponen al servicio de las necesidades de su entorno, vinculándose con el mismo e integrándose en su entramado asociativo, lo que acentúa el papel fundamental que juegan en la lucha contra la exclusión financiera por medio de la formación de capital social.

show abstract

Section: Características Socioeconómicas De La España Vaciadaunclassified

El papel de las cooperativas de crédito en el sostenimiento de la España vaciada a través del capital social

Carchano

Monteagudo

Tormo

2021

REVE

View full text Add to dashboard Cite

show abstract

“…Their reluctance may be caused by concerns on the ability to mitigate the risk profile usually associated with these unbankables’ uncertainty in monthly incomes and the relatively high cost of making smaller IHFs (Chiquier and Lea, 2009). Apart from that, ICB also tends to distribute economic returns to shareholders that spread out across a large economic area or around the world and not necessarily to those who are a part of the ICB’s immediate community (Azmi, 2011).…”

Section: Literature Reviewmentioning

confidence: 99%

“…On the other hand, should a member-customer finds him/herself in a financial difficulty in servicing the monthly installments, he/she may negotiate for lower rental rates, or buying his/her house at a comparatively cheaper location, they might be able to enjoy lower monthly IHF installments. Table VIII also shows that financial cooperative is usually geographically focused (Azmi, 2011) and, therefore, will respond better to the specificities of MM home financing’s operationalization.…”

Section: Islamic Home Financing Modes and Its Impact On The Repayment Affordabilitymentioning

confidence: 99%

A comparative analysis of financial affordability in Islamic home financing instrumentsin Malaysia

Zabri

Haron

2019

IJHMA

View full text Add to dashboard Cite

Purpose This study aims to compare and contrast the financial affordability of Islamic home financing instruments such as bay’ bithaman ajil and musharakah mutanaqisah (MM) offered by various home financing institutions in Malaysia. Design/methodology/approach Mathematical simulations were carried out in examining the financial affordability (or lack thereof) of various Islamic home financing by both Islamic commercial banks (ICB) and financial cooperatives (FC). Findings This study has shown that MM by FC is a workable, more financially affordable option to potential homeowners. Unlike ICB, MM by FC uses rental rates as a benchmarking tool because of its inherent nature of flexibility. Research limitations/implications MM by FC has the potential to reduce the cost of home acquisition (purchase affordability) and the amount of monthly installments (repayment affordability) of homeowners in Malaysia. Originality/value This study shows the financial implication of unaffordable Islamic home financing instruments may have on the Malaysian households, which were derived from using official data from various government agencies.

show abstract

“…Islamic cooperatives are non-banking financial institutes set up to increase its members' economic and social welfare, reduce interest, help the unaffordable income earners to accumulate funds and reduce unaffordability of high initial down payment among the low-income borrowers. An Islamic cooperative home mortgage provides a mutual fund to the cooperative members based on their savings (Azmi, 2011) and prioritises its members' interest (Balmer and Gerber, 2017). The existing Shari'ah Governance Framework for Islamic cooperatives was explored by Itam@ Ismail et al (2016) using a qualitative legal method.…”

Section: Previous Studies On Islamic and Cooperative Home Financingmentioning

confidence: 99%

A new model for Islamic cooperative mortgage of housing finance

Nasir

Abdullah

2019

IJHMA

View full text Add to dashboard Cite

Purpose This study aims to propose a new model of Islamic cooperative mortgage of housing finance (ICOM) to provide a lower monthly initial amount with a longer tenure for the low- and middle-income members. This model is developed to ease the burden on borrowers concerning the high initial down payment (ID). Design/methodology/approach The ICOM model is a no-interest mortgage and is developed based on the cooperative home mortgage model by Ebrahim (2009). The model is verified using numerical examples to ensure its feasibility to produce lower monthly initial amounts and compared to the cooperative home mortgage. Findings From the numerical example, the ICOM model shows a lower monthly initial amount with a longer tenure compared to the cooperative home mortgage. The monthly payment is also lower than the cooperative home mortgage. Research limitations/implications The authors compare their model with Ebrahim’s (2009) cooperative home mortgage because of a constraint of limited previous studies on housing finance. Therefore, this model is developed by considering the unaffordability of the initial down payment among low-income borrowers. As this model introduces a lower monthly initial amount, the authors expect it can reduce the unaffordability problem of high initial down payment. Practical implications The authors also expect that a lower monthly initial amount with a longer tenure can ease the burden among the low-income borrowers by reducing their consumption on housing. Originality/value This paper provides a non-interest Islamic cooperative mortgage and lower monthly initial amount with a longer tenure for the low- and middle-income borrowers.

show abstract

Cooperative Finance and Sustainability After the Financial Crisis

Cited by 5 publications

References 2 publications

El papel de las cooperativas de crédito en el sostenimiento de la España vaciada a través del capital social

El papel de las cooperativas de crédito en el sostenimiento de la España vaciada a través del capital social

A comparative analysis of financial affordability in Islamic home financing instrumentsin Malaysia

A new model for Islamic cooperative mortgage of housing finance

Contact Info

Product

Resources

About