Role of Ar-Rahnu as micro-credit instrument in achieving financial self-sufficiency among women micro-entrepreneurs
Compared to conventional pawnbroking, Islamic pawnbroking (or ar-rahnu) is relatively a recent product in the financial market. More recently, however, ar-rahnu-based microcredit facility has grown in importance over the past few years due to the increased awareness on Islamic finance in Malaysia an...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English English |
| Published: |
IIUM Press
2016
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/55540/ http://irep.iium.edu.my/55540/ http://irep.iium.edu.my/55540/1/014%20ID%20Nik%20Hadiyan.pdf http://irep.iium.edu.my/55540/2/55540_Role%20of%20ar-rahnu%20as%20micro-credit_Scopus.pdf |
| Summary: | Compared to conventional pawnbroking, Islamic pawnbroking (or ar-rahnu) is relatively a recent product in the financial market. More recently, however, ar-rahnu-based microcredit facility has grown in importance over the past few years due to the increased awareness on Islamic finance in Malaysia and is increasingly a popular financing option, particularly among women micro-entrepreneurs. This study examines the role of ar-rahnu as a micro-credit instrument among women micro-entrepreneurs and aims to understand how the use of ar-rahnu could help them to achieve financial self-sufficiency. In achieving these objectives, the study conducts a survey on women micro-entrepreneurs in the Siti Khadijah market in Kelantan. Findings of the study are useful for the relevant authorities to take initiatives to promote Islamic-based micro-credit instruments, especially among women micro-entrepreneurs. |
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