Publication: Leveraging financial inclusion through Islamic microfinance: A new model proposal for participation banks in Turkiye
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Özdemir, Mücahit
Savaşan, Fatih
Ulev, Salih
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Elsevier
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Abstract
This study provides a tailor-made microfinance model for participation banks (PBs) in Turkiye, benefiting from the global practices and comments of the key stakeholders collected in 40 depth interviews. We find that PBs have significant potential with respect to the source of funds, financing instruments, and risk management tools. The stakeholders have a broad consensus that if PBs are to play their development role, they should integrate microfinance into their activities. The study provides the most comprehensive research on Islamic microfinance in Turkiye, incorporating the opinions of participation bankers, managers of Islamic microfinance institutions (MFIs), regulatory authority representatives, and academics, including shari'ah scholars. The proposed model contributes to the limited literature on Islamic microfinance in Turkiye and offers practical implications for PBs through which they can strengthen their social responsibility role and contribute to the financial inclusion of people with a low income.Copyright & COPY; 2023 Borsa Istanbul Anonim S, irketi. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
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Islamic microfinance, Microfinance, Participation banks, Social sciences, Business, finance, Economics, Business & economics