Regulatory framework for Member-owned Islamic Microfinance Institutions (MIMIS) In Sub-Saharan Africa (SSA)

Member-owned Islamic microfinance institutions have been toasted to be the alternative means of financial inclusion among the Muslims who are voluntarily excluded from participating in the traditional member-owned microfinance institutions because of the interest they charge. This novel idea is sti...

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Main Authors:	Owolabi Yusuf, Muhammad-Bashir, Shirazi, Nasim Shah, Abdullah, Moha Asri
Format:	Article
Language:	English
Published:	Islami Bank Training and Research Academy (IBTRA) 2016
Subjects:	H Social Sciences (General) HG Finance HG1501 Banking HJ Public Finance HJ8003 Public credit. Debts. Loans. Claims
Online Access:	http://irep.iium.edu.my/54688/ http://irep.iium.edu.my/54688/ http://irep.iium.edu.my/54688/1/Journal%20of%20Islamic%20Economics%20banking%20and%20Finance%20Mar%202016.pdf

id	iium-54688
recordtype	eprints
spelling	iium-546882017-02-01T02:11:02Z http://irep.iium.edu.my/54688/ Regulatory framework for Member-owned Islamic Microfinance Institutions (MIMIS) In Sub-Saharan Africa (SSA) Owolabi Yusuf, Muhammad-Bashir Shirazi, Nasim Shah Abdullah, Moha Asri H Social Sciences (General) HG Finance HG1501 Banking HJ Public Finance HJ8003 Public credit. Debts. Loans. Claims Member-owned Islamic microfinance institutions have been toasted to be the alternative means of financial inclusion among the Muslims who are voluntarily excluded from participating in the traditional member-owned microfinance institutions because of the interest they charge. This novel idea is still new and little is known about its operations and regulations guiding its operations. This paper surveys the practices of the common member-owned Islamic microfinance in Sub-Saharan Africa with a view of recommending a regulatory framework for its operations based on these practices. This paper, thus, proposes a number of regulations for the operation of both Islamic Saving Groups and Financial Cooperative. It is hoped that these proposed regulations will assist the operators, policy makers and donor agencies to chat a way of improving the financial inclusiveness of the poor who are excluded from benefiting from the available member-owned microfinance institutions with a view to lift them out of poverty. Islami Bank Training and Research Academy (IBTRA) 2016-01 Article PeerReviewed application/pdf en http://irep.iium.edu.my/54688/1/Journal%20of%20Islamic%20Economics%20banking%20and%20Finance%20Mar%202016.pdf Owolabi Yusuf, Muhammad-Bashir and Shirazi, Nasim Shah and Abdullah, Moha Asri (2016) Regulatory framework for Member-owned Islamic Microfinance Institutions (MIMIS) In Sub-Saharan Africa (SSA). Journal of Islamic Economics, Banking and Finance (JIEBF), 12 (1 (Jan-March)). pp. 120-136. ISSN 2070-4658 http://ibtra.com/pdf/journal/v12_n1_article7.pdf
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	H Social Sciences (General) HG Finance HG1501 Banking HJ Public Finance HJ8003 Public credit. Debts. Loans. Claims
spellingShingle	H Social Sciences (General) HG Finance HG1501 Banking HJ Public Finance HJ8003 Public credit. Debts. Loans. Claims Owolabi Yusuf, Muhammad-Bashir Shirazi, Nasim Shah Abdullah, Moha Asri Regulatory framework for Member-owned Islamic Microfinance Institutions (MIMIS) In Sub-Saharan Africa (SSA)
description	Member-owned Islamic microfinance institutions have been toasted to be the alternative means of financial inclusion among the Muslims who are voluntarily excluded from participating in the traditional member-owned microfinance institutions because of the interest they charge. This novel idea is still new and little is known about its operations and regulations guiding its operations. This paper surveys the practices of the common member-owned Islamic microfinance in Sub-Saharan Africa with a view of recommending a regulatory framework for its operations based on these practices. This paper, thus, proposes a number of regulations for the operation of both Islamic Saving Groups and Financial Cooperative. It is hoped that these proposed regulations will assist the operators, policy makers and donor agencies to chat a way of improving the financial inclusiveness of the poor who are excluded from benefiting from the available member-owned microfinance institutions with a view to lift them out of poverty.
format	Article
author	Owolabi Yusuf, Muhammad-Bashir Shirazi, Nasim Shah Abdullah, Moha Asri
author_facet	Owolabi Yusuf, Muhammad-Bashir Shirazi, Nasim Shah Abdullah, Moha Asri
author_sort	Owolabi Yusuf, Muhammad-Bashir
title	Regulatory framework for Member-owned Islamic Microfinance Institutions (MIMIS) In Sub-Saharan Africa (SSA)
title_short	Regulatory framework for Member-owned Islamic Microfinance Institutions (MIMIS) In Sub-Saharan Africa (SSA)
title_full	Regulatory framework for Member-owned Islamic Microfinance Institutions (MIMIS) In Sub-Saharan Africa (SSA)
title_fullStr	Regulatory framework for Member-owned Islamic Microfinance Institutions (MIMIS) In Sub-Saharan Africa (SSA)
title_full_unstemmed	Regulatory framework for Member-owned Islamic Microfinance Institutions (MIMIS) In Sub-Saharan Africa (SSA)
title_sort	regulatory framework for member-owned islamic microfinance institutions (mimis) in sub-saharan africa (ssa)
publisher	Islami Bank Training and Research Academy (IBTRA)
publishDate	2016
url	http://irep.iium.edu.my/54688/ http://irep.iium.edu.my/54688/ http://irep.iium.edu.my/54688/1/Journal%20of%20Islamic%20Economics%20banking%20and%20Finance%20Mar%202016.pdf
first_indexed	2023-09-18T21:17:21Z
last_indexed	2023-09-18T21:17:21Z
_version_	1777411650874245120

Regulatory framework for Member-owned Islamic Microfinance Institutions (MIMIS) In Sub-Saharan Africa (SSA)

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