Poverty alleviation in Mogadishu, Somalia: the role of Islamic microfinance
The objective of this paper is to empirically examine the role of Islamic microfinance in poverty alleviation in Mogadishu, Somalia. The study basically concerns on two objectives which are; to observe the current practice of Islamic microfinance in Mogadishu, Somalia, and to investigate the effe...
| Main Authors: | , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
International Research Centre of Islamic Economics and Finance (IRCIEF)
2018
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/55142/ http://irep.iium.edu.my/55142/ http://irep.iium.edu.my/55142/1/55142_Poverty%20Alleviation%20in%20Mogadishu.pdf |
| Summary: | The objective of this paper is to empirically examine the role of Islamic microfinance in poverty
alleviation in Mogadishu, Somalia. The study basically concerns on two objectives which are; to
observe the current practice of Islamic microfinance in Mogadishu, Somalia, and to investigate the
effectiveness of Islamic microfinance institutions in this country towards poverty reduction. To
achieve the research objectives, quantitative methodology is adopted and primary data is relied on
for analysis. Based on survey questionnaire, the sample of this research were microfinance
recipients in Mogadishu, Somalia. Via descriptive analysis, it is revealed that the current practice of
Islamic microfinance activities in Mogadishu, Somalia is serving the poor people, but these
microfinance activities are not effective in terms of the procedure of obtaining loans, enhancement
of standard living, usefulness of the system, and the awareness level of the people. In addition, the
findings of this study will be beneficial for the Islamic microfinance institutions, Islamic banks who
involve microfinance services, enterprises, academicians and researchers who interest in this area. |
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