Micro-Enterprise Development Using Islamic Financing and Organizational Instruments: Modality and Practicum

The paper posits a micro-enterprise modeled on Islamic Law. The case study is specifically for Bangladesh, with the intent that the reader will be able to see the solutions as answers to current microfinance problems globally. Various organizational features of this micro-enterprise model are explained in detail, with an emphasis on the human resource component. The author develops the various features of a grassroots development program, focusing on its financial, organizational, and socio-economic elements. The first part, which lays out the microfinance Islamic philosophy, establishes the fact that the two are compatible. The second posits a micro-enterprise development project. The paper concludes with planning for the implementation of such a project.