Islamic Microfinance Enterpise: Untapped Potential
The world economic system is in standstill and humanity is in crisis and has to look for structural changes. A plausible option is Islamic microfinance based on profit and loss sharing (PLS) system that has funded innovation and new business ventures around the world. This book is the latest in Dr. Saad's series on Islamic Microfinance. More
The world economic system is in standstill and humanity is in crisis and has to look for structural changes. A plausible option is Islamic microfinance based on profit and loss sharing (PLS) system that funded innovation and new business ventures and has rewarded small entrepreneurs in Africa, Asia and the Middle East who create wealth and share it responsibly in the community. In doing so we will see wealth be distributed in the community and cooperation will merge among people of different cultural backgrounds and they will live in peace and harmony with others.
This research is divided into two parts. Part one is the theoretical background about current practices of microfinance institutions and what went wrong and why Islamic microfinance should be considered as an alternative system based on profit and loss sharing. In part two we undertook an applied research in Brunei Darussalam that has brought out some interesting findings that need to be examined thoroughly by the policy makers in the country and the rest of Muslim world that facing many challenges ahead.
The research also focuses on the application of Islamic microfinance instruments in small medium enterprises in Brunei Darussalam that will help to analyse and tackle the question ‘Why Islamic Microfinance is important to the rural farming sector in the country in order to attract youth to go back to rural areas utilising their lands to enable them to be successful entrepreneurs.