Conferences

Islamic Finance and Microfinance: An Insurmountable Gap?

Submitted by Anonymous (not verified) on Thu, 08/22/2019 - 16:22

Based on observations and interviews with microfinance practitioners in Bangladesh, I explore problematic perceptions of traditional scholars of Islamic law and the Islamic finance sector that may obstruct cooperation with microfinance institutions. However, suspicion and misunderstanding flow both ways. Microfinance is poorly understood by the Islamic finance sector, and arguments against the activities of microfinance institutions often mischaracterize them and do not take into account ground realities.

Islamic Alternatives to Finance Poverty Focused Group-Based Microfinancing

Submitted by Anonymous (not verified) on Thu, 08/22/2019 - 16:22

This paper yields a theoretical framework for MFIs (Microfinance Institutions) to provide microfinance according to Islamic principles. The strengths and weaknesses of conventional MFIs are delineated with the typical group-based lending for the positives and moral questionability for the negatives. Because the transactions only involve the transfer of real assets and goods, the problem of the diversion of funds to non-productive uses is alleviated. Currently however, Islamic MFIs are dealing with very high costs of operations.

Toward A Model For Islamic Venture Capital

Submitted by Anonymous (not verified) on Thu, 08/22/2019 - 16:22

The aim of this paper is to demonstrate the fundamental requirements for building an Islamic Venture Capital. There is an extremely high youth unemployment rate in Islamic Countries. This is due to few numbers of SME companies and inability of governmental sector to offer jobs for all youth. Also Conventional banks finance big companies with long history of operation and refuse to finance new companies. So this new companies do not have any institution to support them.

Theory-Practice Dialectic in Islamic Finance: The Case of Product Development

Submitted by Anonymous (not verified) on Thu, 08/22/2019 - 16:22

Understanding the current structure and problems of Islamic finance (IF) requires an examination of how the contract types have evolved since first Islamic banks were founded in the mid-1970s. IF scholars have often turned to Islamic legal texts for alternatives to the interest-based system, suggesting working with contracts based in classical