A Market-Based Financing Model for Islamic Housing Microfinance Market
For many years, microfinance (MF) was considered an appropriate tool to accomplish social and financial goals simultaneously. Over time, microfinance has become more commercialized, transforming into a financially efficient industry, allowing customers to have access to more sophisticated banking products (e.g. small housing loans). Despite interest from the commercial sector, the industry has yet to find a workable market-based solution to fund microfinance. Microfinance in the member states of the Organization of Islamic Cooperation (OIC) faces two challenges: 1.