Microfinance institutions play a great role for small businesses activities, deposits, and loans to improve households and constrained people who are not reached by formal financial institutions. This study aimed to i...Microfinance institutions play a great role for small businesses activities, deposits, and loans to improve households and constrained people who are not reached by formal financial institutions. This study aimed to investigate on the microfinance services and economic growth of households in Lubumbashi. The study applied descriptive and correlation design. Questionnaire was administered to 125 respondents and simple random sampling technique was used to select them. With the use of statistical techniques applied for data analysis, it was concluded that there is a significant relationship between microfinance services and economic growth of households. From the results, it was recommended that microfinance services should not only be considered as credit and lending activities, but also include insurance, savings, and transactional services for money transfer.展开更多
Micro-finance is providing financial services to poor people, who traditionally lack access to banking and related services. In India, the population of Muslims is about 180 million and the majority of them live below...Micro-finance is providing financial services to poor people, who traditionally lack access to banking and related services. In India, the population of Muslims is about 180 million and the majority of them live below poverty line. The regions where poor Muslims are in majority are marked as negative for providing loans by the banks. Study on interest-free （Islamic） micro-finance for implementation in a country like India can be very helpful in eradicating poverty and developing micro-enterprises together with sustainable development of poor and country as a whole. The primary aim of Islamic teachings （economics） is social justice to all irrespective of caste, creed, race, colour, and religion. Due to this reason, interest （riba） is prohibited not only in Islam but also in Christianity. This paper studies an Islamic micro-finance institution （Anjuman Islahul Muslemeen） situated in Bhopal （Madhya Pradesh）, India. The institution was registered in 1918 by a group of Muslims to help the poor. Today, about 98 years have passed by and all group members have changed but the organization is still growing with the aim of the well-being of poor people, not only Muslims but non-Muslims as well and is serving the humanity.展开更多
文摘Microfinance institutions play a great role for small businesses activities, deposits, and loans to improve households and constrained people who are not reached by formal financial institutions. This study aimed to investigate on the microfinance services and economic growth of households in Lubumbashi. The study applied descriptive and correlation design. Questionnaire was administered to 125 respondents and simple random sampling technique was used to select them. With the use of statistical techniques applied for data analysis, it was concluded that there is a significant relationship between microfinance services and economic growth of households. From the results, it was recommended that microfinance services should not only be considered as credit and lending activities, but also include insurance, savings, and transactional services for money transfer.
文摘Micro-finance is providing financial services to poor people, who traditionally lack access to banking and related services. In India, the population of Muslims is about 180 million and the majority of them live below poverty line. The regions where poor Muslims are in majority are marked as negative for providing loans by the banks. Study on interest-free （Islamic） micro-finance for implementation in a country like India can be very helpful in eradicating poverty and developing micro-enterprises together with sustainable development of poor and country as a whole. The primary aim of Islamic teachings （economics） is social justice to all irrespective of caste, creed, race, colour, and religion. Due to this reason, interest （riba） is prohibited not only in Islam but also in Christianity. This paper studies an Islamic micro-finance institution （Anjuman Islahul Muslemeen） situated in Bhopal （Madhya Pradesh）, India. The institution was registered in 1918 by a group of Muslims to help the poor. Today, about 98 years have passed by and all group members have changed but the organization is still growing with the aim of the well-being of poor people, not only Muslims but non-Muslims as well and is serving the humanity.
