A survey on awareness and knowledge of Islamic microfinance in India

Microfinance provides financial services to small businesses and poor individuals who lack access to conventional banking. Conventional microfinance institutions have expanded their operations in the last two decades. Among the many factors that were responsible for the microfinance crisis in In...

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Main Authors:	Hassan, Rusni, Syed Ahmed, Salman
Format:	Article
Language:	English
Published:	International Journals of Multidisciplinary Research Academy 2019
Subjects:	HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/75399/ http://irep.iium.edu.my/75399/ http://irep.iium.edu.my/75399/1/75399%20-a%20Survey%20on%20Awareness%20and%20Knowledge%20of%20islamic%20microfonance%20in%20india.pdf

id	iium-75399
recordtype	eprints
spelling	iium-753992020-02-21T02:46:33Z http://irep.iium.edu.my/75399/ A survey on awareness and knowledge of Islamic microfinance in India Hassan, Rusni Syed Ahmed, Salman HG3368 Islamic Banking and Finance Microfinance provides financial services to small businesses and poor individuals who lack access to conventional banking. Conventional microfinance institutions have expanded their operations in the last two decades. Among the many factors that were responsible for the microfinance crisis in India, one major factor was the high interest rate which still continues to exist. The giants of Microfinance in India until today are known to be charging high interest rates. Approximately 77% of India‟s population continues to be below poverty line. Moreover, on looking into the population of the financially excluded, the majority of them are Muslims who are of the belief that giving or taking of interest is not permissible. Hence, study on interest free or Islamic microfinance in India can help eradicate poverty not just among Muslims but in India as a whole. This study aims to gauge the awareness and knowledge of Islamic microfinance among the general public of India. The results of this study will help translate into actions in areas needed for in depth penetration and acceptance of Islamic microfinance in India. The paper adopts a Quantitative approach where Questionnaire is distributed online by way of random sampling and 303 responses were received. Data is analyzed using SPSS22 software. The findings show that in general the public is aware of the term Islamic microfinance but with regards to the products and services offered by Islamic microfinance institutes, the level of awareness is very low. This gives an insight to in which direction the attention and efforts are currently needed to raise public awareness of Islamic microfinance. International Journals of Multidisciplinary Research Academy 2019-10 Article PeerReviewed application/pdf en http://irep.iium.edu.my/75399/1/75399%20-a%20Survey%20on%20Awareness%20and%20Knowledge%20of%20islamic%20microfonance%20in%20india.pdf Hassan, Rusni and Syed Ahmed, Salman (2019) A survey on awareness and knowledge of Islamic microfinance in India. International Journal of Physical and Social Science, 9 (10). pp. 1-11. ISSN 2249-5894 http://www.ijmra.us/2019ijpss_october.php
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG3368 Islamic Banking and Finance
spellingShingle	HG3368 Islamic Banking and Finance Hassan, Rusni Syed Ahmed, Salman A survey on awareness and knowledge of Islamic microfinance in India
description	Microfinance provides financial services to small businesses and poor individuals who lack access to conventional banking. Conventional microfinance institutions have expanded their operations in the last two decades. Among the many factors that were responsible for the microfinance crisis in India, one major factor was the high interest rate which still continues to exist. The giants of Microfinance in India until today are known to be charging high interest rates. Approximately 77% of India‟s population continues to be below poverty line. Moreover, on looking into the population of the financially excluded, the majority of them are Muslims who are of the belief that giving or taking of interest is not permissible. Hence, study on interest free or Islamic microfinance in India can help eradicate poverty not just among Muslims but in India as a whole. This study aims to gauge the awareness and knowledge of Islamic microfinance among the general public of India. The results of this study will help translate into actions in areas needed for in depth penetration and acceptance of Islamic microfinance in India. The paper adopts a Quantitative approach where Questionnaire is distributed online by way of random sampling and 303 responses were received. Data is analyzed using SPSS22 software. The findings show that in general the public is aware of the term Islamic microfinance but with regards to the products and services offered by Islamic microfinance institutes, the level of awareness is very low. This gives an insight to in which direction the attention and efforts are currently needed to raise public awareness of Islamic microfinance.
format	Article
author	Hassan, Rusni Syed Ahmed, Salman
author_facet	Hassan, Rusni Syed Ahmed, Salman
author_sort	Hassan, Rusni
title	A survey on awareness and knowledge of Islamic microfinance in India
title_short	A survey on awareness and knowledge of Islamic microfinance in India
title_full	A survey on awareness and knowledge of Islamic microfinance in India
title_fullStr	A survey on awareness and knowledge of Islamic microfinance in India
title_full_unstemmed	A survey on awareness and knowledge of Islamic microfinance in India
title_sort	survey on awareness and knowledge of islamic microfinance in india
publisher	International Journals of Multidisciplinary Research Academy
publishDate	2019
url	http://irep.iium.edu.my/75399/ http://irep.iium.edu.my/75399/ http://irep.iium.edu.my/75399/1/75399%20-a%20Survey%20on%20Awareness%20and%20Knowledge%20of%20islamic%20microfonance%20in%20india.pdf
first_indexed	2023-09-18T21:46:41Z
last_indexed	2023-09-18T21:46:41Z
_version_	1777413496589254656

A survey on awareness and knowledge of Islamic microfinance in India

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