The Necessity of Taking a Loan, and the Necessity of Not Doing So: Islamic Finance among Muslim Minorities in Denmark and Norway

Borchgrevink, Kaja; Erdal, Marta Bivand

doi:10.18261/njrs.34.2.4

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K Islamic Finance In Denmark1

Hypotheses Development: Student Loans Shari'ah Scholars and ...1

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2022

2024

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Cited by 2 publications

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“…The demand for such products and services is growing, and many financial institutions are beginning to explore how they can meet this need. In the meantime, Muslims in Denmark can only take advantage of online Islamic banks or foreign banks that offer these products (Borchgrevink & Erdal, 2021).…”

Section: K Islamic Finance In Denmarkmentioning

confidence: 99%

The state of Islamic finance in Europe

Baig,

Muneeza,

Hassan

et al. 2024

Islamic Finance in Eurasia

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Section: K Islamic Finance In Denmarkmentioning

confidence: 99%

The state of Islamic finance in Europe

Baig,

Muneeza,

Hassan

et al. 2024

Islamic Finance in Eurasia

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“…For example, Demirguc-Kunt et al (2017) find little use of Shari'ah-compliant banking products, although there is evidence of a hypothetical preference for Shari'ah-compliant products among a plurality of respondents despite the higher costs. Similarly, the study of the demand for halal mortgages in the UK explores the role of religion to determine the consumer preferences for alternative mortgages (Tameme & Asutay, 2012) or loans (Borchgrevink & Erdal, 2022).…”

Section: Hypotheses Development: Student Loans Shari'ah Scholars and ...mentioning

confidence: 99%

Religion as a barrier to the use of student loans for higher education: A community‐based participatory study with Somalis living in England

Avdukić

Khaleel

Abdullah

et al. 2022

British Educational Res J

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The unwillingness of the Somali community to finance higher education has largely gone unnoticed within the academic literature and government policy documents. This study explores the role of religion and the influence of Shari'ah scholars on the use of interest-bearing student loans within the Somali community. In the absence of any theoretical framework on this topic, we explore the multiple socioeconomic factors that may influence the attitude, perception of need, motivation and action of using student loans for higher education, by proposing the UK Somali Muslims Acceptance of Interest-bearing Student Loan Model. This is also a community-based participatory study that actively involved Somali community members in exploring and interpreting the results. This was achieved through regular consultations with the sampled Somali Muslim communities within the UK. Our results contribute to the broader debate on the effect of cultural, religious and social values of marginalised communities on inclusion and widening access policies for higher education. The findings reemphasise that people sharing the same location do not necessarily share the same level of opportunities for higher education because of the intersectionality of race, religion, gender and class.

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The Necessity of Taking a Loan, and the Necessity of Not Doing So: Islamic Finance among Muslim Minorities in Denmark and Norway

Cited by 2 publications

References 22 publications

The state of Islamic finance in Europe

The state of Islamic finance in Europe

Religion as a barrier to the use of student loans for higher education: A community‐based participatory study with Somalis living in England

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