The perception of micro-entrepreneurs and petty traders towards conventional and Islamic microfinance : a case study of Pakistan

Microfinance is a general term that entails the provision of financial services to micro- entrepreneurs or to those who do not have access to banking facilities. The current issues faced by micro-entrepreneurs are difficulties in seeking financing from financial institutions due to lack of sufficien...

Full description

Bibliographic Details
Main Authors: Abbas, kausar, Abdul Razak, Dzuljastri, Md Saad, Norma
Format: Conference or Workshop Item
Language:English
Published: 2012
Subjects:
Online Access:http://irep.iium.edu.my/25900/
http://irep.iium.edu.my/25900/
http://irep.iium.edu.my/25900/1/%28C_-11%29_-__ISRA_Conference_-_27.11.12.pdf
id iium-25900
recordtype eprints
spelling iium-259002012-12-17T07:56:44Z http://irep.iium.edu.my/25900/ The perception of micro-entrepreneurs and petty traders towards conventional and Islamic microfinance : a case study of Pakistan Abbas, kausar Abdul Razak, Dzuljastri Md Saad, Norma HG Finance Microfinance is a general term that entails the provision of financial services to micro- entrepreneurs or to those who do not have access to banking facilities. The current issues faced by micro-entrepreneurs are difficulties in seeking financing from financial institutions due to lack of sufficient collateral, no credit history, irregular or uneasily verified sources of income. Consequently, they often rely on relatives or local moneylenders who charge high interest rates. Thus, on grounds of equity and justice, Islamic microfinance seems to provide an alternative needed by them. This research deals with the perceptions of micro-entrepreneurs and petty traders towards conventional and Islamic microfinance in Pakistan. It further investigates the intention to use Islamic microfinance and challenges for the micro-entrepreneurs. A total of 270 people were surveyed by means of self- administered questionnaire. The sample comprises 81.3 percent males and 18.7 percent females in three major cities; Rawalpindi, Lahore and Peshawar. Results of this study indicate that Islamic microfinance is a preferred choice as compared to conventional microfinance and best answer to poverty eradication. Although, Islamic microfinance is a new concept but majority of respondents had some understanding of this concept. However, the respondents also expressed their dissatisfaction to the management of Islamic banks. Key words: Conventional microfinance, Islamic microfinance, poverty and Pakistan 2012-11-27 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/25900/1/%28C_-11%29_-__ISRA_Conference_-_27.11.12.pdf Abbas, kausar and Abdul Razak, Dzuljastri and Md Saad, Norma (2012) The perception of micro-entrepreneurs and petty traders towards conventional and Islamic microfinance : a case study of Pakistan. In: Islamic Finance in a Challenging Economy : Moving Forward, 27 November 2012, Kualal Lumpur. (Unpublished) http://www.islamicfinance.de/?q=node/4127
repository_type Digital Repository
institution_category Local University
institution International Islamic University Malaysia
building IIUM Repository
collection Online Access
language English
topic HG Finance
spellingShingle HG Finance
Abbas, kausar
Abdul Razak, Dzuljastri
Md Saad, Norma
The perception of micro-entrepreneurs and petty traders towards conventional and Islamic microfinance : a case study of Pakistan
description Microfinance is a general term that entails the provision of financial services to micro- entrepreneurs or to those who do not have access to banking facilities. The current issues faced by micro-entrepreneurs are difficulties in seeking financing from financial institutions due to lack of sufficient collateral, no credit history, irregular or uneasily verified sources of income. Consequently, they often rely on relatives or local moneylenders who charge high interest rates. Thus, on grounds of equity and justice, Islamic microfinance seems to provide an alternative needed by them. This research deals with the perceptions of micro-entrepreneurs and petty traders towards conventional and Islamic microfinance in Pakistan. It further investigates the intention to use Islamic microfinance and challenges for the micro-entrepreneurs. A total of 270 people were surveyed by means of self- administered questionnaire. The sample comprises 81.3 percent males and 18.7 percent females in three major cities; Rawalpindi, Lahore and Peshawar. Results of this study indicate that Islamic microfinance is a preferred choice as compared to conventional microfinance and best answer to poverty eradication. Although, Islamic microfinance is a new concept but majority of respondents had some understanding of this concept. However, the respondents also expressed their dissatisfaction to the management of Islamic banks. Key words: Conventional microfinance, Islamic microfinance, poverty and Pakistan
format Conference or Workshop Item
author Abbas, kausar
Abdul Razak, Dzuljastri
Md Saad, Norma
author_facet Abbas, kausar
Abdul Razak, Dzuljastri
Md Saad, Norma
author_sort Abbas, kausar
title The perception of micro-entrepreneurs and petty traders towards conventional and Islamic microfinance : a case study of Pakistan
title_short The perception of micro-entrepreneurs and petty traders towards conventional and Islamic microfinance : a case study of Pakistan
title_full The perception of micro-entrepreneurs and petty traders towards conventional and Islamic microfinance : a case study of Pakistan
title_fullStr The perception of micro-entrepreneurs and petty traders towards conventional and Islamic microfinance : a case study of Pakistan
title_full_unstemmed The perception of micro-entrepreneurs and petty traders towards conventional and Islamic microfinance : a case study of Pakistan
title_sort perception of micro-entrepreneurs and petty traders towards conventional and islamic microfinance : a case study of pakistan
publishDate 2012
url http://irep.iium.edu.my/25900/
http://irep.iium.edu.my/25900/
http://irep.iium.edu.my/25900/1/%28C_-11%29_-__ISRA_Conference_-_27.11.12.pdf
first_indexed 2023-09-18T20:38:36Z
last_indexed 2023-09-18T20:38:36Z
_version_ 1777409213348184064