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KREDİ YARDIMI VE MİKRO FİNANS: PAKİSTAN’DA ANANEVİ VE İSLAMİ MİKRO FİNANS KONUSUNDA İNSANLARIN ALGISINI BELİRLEYENLER HAKKINDA BİR SAHA ÇALIŞMASI

Year 2016, Volume: 3 Issue: 1, 37 - 61, 16.02.2016

Muhammad Meraj

Abstract

Bu makale Pakistan’daki insanların ananevi (faizli) ve İslami mikro finans (faizsiz) konusundaki algılarını araştıran bir saha çalışmasına dayanarak kredi yardımı ve mikro finansın rolünü incelemektedir. Ananevi mikro finans fakirliği azaltma konusunda kusursuz değildir ve Pakistan gibi fakirliğin vurduğu ülkelerdeki başarısı derinlemesine incelenmelidir. Pakistan’da nüfusun ekseriyeti yıllardır fakirlik eşiğinin altında yaşadığından mikro finans ile fakirliği azaltma hedefleri tam anlamıyla gerçekleşmemiştir. Temel veri seti, Temmuz-Ekim 2014 arasında Pakistan’in Karaçi şehrinde rassal yüzyüze anket metoduyla toplanmıştır. 

Anahtar Kelimeler: Kredi yardımı, faizsiz mikro kredi, fakirliği azaltma, şeriat

References

  • Abdul-Rahman, A.R. 2007. Islamic Microfinance: A Missing Component in Islamic Banking. Kyoto Bulletin of Islamic Area Studies, 1-2.pp. 38-53.
  • Abdouli, A.H. 1991. Access to Finance and Collaterals: Islamic Versus Western Banking. JKAU. Islamic Econ. Vol. 2. pp. 55-62.
  • Ahmad, A. U. F., and Ahmad, A. R. 2008. Islamic microfinance: A case study of Australia. Journal of Islamic Economics, Banking and Finance, 4(2), 59-80.
  • Ahmed, H. 2002. Financing microenterprises: An analytical study of Islamic microfinance institutions. Islamic Economic Studies, 9(2), 27-64.
  • Ali K. (2013, May 17). Islamic Microfinance in Pakistan: The Experience so Far. [web log comment]. Retrieved from http://www.cgap.org/blog/islamic-microfinance-pakistan-experience-so-far.
  • Armendariz-de-Aghion, Beatriz and Morduch, Jonathan. 2005. The Economics of Microfinance. The MIT Press, Cambridge, Massachusetts, London, England.
  • Basharat, A., Arshad, A. and Khan, R. 2014. Efficiency, Productivity, Risk and Profitability of Microfinance Industry in Pakistan: A Statistical Analysis. Micro note 2: pp. 1-12.
  • Conroy, J. D. 2003. The challenges of micro financing in Southeast Asia. Foundation for Development Cooperation. Singapore.
  • Dhumale, R., and Sapcanin, A. 1999. An application of Islamic banking principles to microfinance. Technical Note, A study by the Regional Bureau for Arab States, UNDP, in cooperation with the Middle East and North Africa Region, World Bank.
  • Drake, D., and Rhyne, E. 2002. Commercialization of Microfinance: balancing business and development. Accion International (Organization), Stylus Pub Llc.
  • Ghosh, J. 2013. Microfinance and the challenge of financial inclusion for development. Cambridge journal of economics, bet042.
  • Global Financial Development Report (2014). source: http://econ.worldbank.org/WBSITE/EXTERNAL/EXTDEC/EXTGLOBALFINREPORT/0,,contentMDK:23492074~pagePK:64168182~piPK:64168060~theSitePK:8816097,00.html (accessed on October 15, 2014).
  • Hassan, M. K. 2010. An integrated poverty alleviation model combining zakat, awqaf and microfinance. In Seventh International Conference-The Tawhidi Epistemology: Zakat and Waqf Economy, Bangi, Malaysia.
  • Hudon, M. 2011. Ethics in Microfinance. In Beatriz Armendariz and Marc Labie (ed.). The Handbook of Microfinance. (pp. 123-141), Singapore, World Scientific Publishing Co. Pte. Ltd.
  • Iqbal, M., Ahmad, M., and Abbas, K. 2003. The Impact of Institutional Credit on Agricultural Production in Pakistan. The Pakistan Development Review 42:4(2): pp. 469–485.
  • Karim, N., Tarazi, M., and Reille, X. 2008. Islamic Microfinance: An Emerging Market Niche. CGAP Focus Note 49. Washington, D.C.
  • Khan, A. 2008. Tackling the failure of microfinance efforts through amalgamating microfinance with charity: two viable alternatives in the context of Pakistan. Australasian Accounting Business and Finance Journal, 2(2), 2.
  • Ledgerwood, Joanna, with Julie Earne and Candace Nelson, eds. 2013. The New Microfinance Handbook: A Financial Market System Perspective. Washington, DC: World Bank. doi: 10.1596/978-0-8213-8927-0.
  • Munir, K. 2012. Akhuwat: Making Microfinance Work. Standford SOCIAL INNOVATION REVIEW. Source: http://www.ssireview.org/blog/entry/akhuwat_making_microfinance_ work (accessed on February 1, 2015).
  • Navajas, S., Schreiner, M., Meyer, R. L., Gonzalez-Vega, C., & Rodriguez-Meza, J. 2000. Microcredit and the Poorest of the Poor: Theory and Evidence from Bolivia. World development, 28(2), 333-346.
  • Onakoya, A.B., and Onakoya, A.O. 2013. Islamic microfinance as a poverty alleviation tool: Expectations from Ogun State, Nigeria. Scholarly Journal of Business Administration vol. 3(2) pp. 36-43.
  • Orangi Pilot Project. 1995. Environment and Urbanization 7(2) pp. 227-236.
  • Pakistan Microfinance Review. 2013. Annual Assessment of the microfinance industry. Source: http://www.microfinanceconnect.info/assets/articles/5cfb122011df790b3f0a13791b75373d.pdf (accessed on November 6, 2014).
  • Pakistan & Gulf Economist. 2014. Source: http://www.pakistaneconomist.com/database2/pakbanks.asp (accessed on January 22, 2015).
  • Pollard, J., and Samers, M. 2007. Islamic banking and finance: postcolonial political economy and the decentering of economic geography. Transactions of the Institute of British Geographers, 32(3): 313-330.
  • Rahman, A-R-A. 2007. Islamic Microfinance: A Missing Component in Islamic Banking. Kyoto Bulletin of Islamic Area Studies, 1-2(2007): pp. 38-53.
  • Rapaport, C.B.R. 2007. Israeli Financial Gemachs: Interest-free Loan Associations, Proquest Inc.
  • Rosenberg, R., Gongalez, A, and Narain, S. 2009. Are Microfinance Interest Rates Excessive? CGAP.
  • Rosenberg, R. 1996. Microcredit Interest Rates. CGAP Occasional Paper 1.
  • Rosenberg, R. 2009. Does Microcredit Really Help Poor People. CGAP.
  • Saad, N.M. 2012. Microfinance and Prospect for Islamic Microfinance Products: The Case of Amanah Ikhtiar Malaysia. Advances in Asian Social Sciences 1(1): pp 27-33.
  • Sarker, D. 2013. Pressure on Loan Officers in Microfinance Institutions: An Ethical Perspective. Journal of Economics and Sustainable Development 4(12), 84-88.
  • Schwarz, E. 2003. His Word Our Guide. Biblical origins of Christian Beliefs and Practices. IUniverse Inc. USA.
  • State Bank of Pakistan, KAP Study report. 2014. Source: http://www.sbp.org.pk/press/2014/Kap-Study-03-Oct-14.pdf (accessed on February 9, 2015).
  • State Bank of Pakistan, Islamic Banking Bulletin. 2014. Source: http://www.sbp.org.pk/ibd/bulletin/2014/IBB-Jun-2014.pdf (accessed on February 27, 2015).
  • State Bank of Pakistan, Microfinance Department. Strategic Framework for Sustainable Microfinance in Pakistan. 2011. Source: http://www.sbp.org.pk/MFD/Strategic-Framework-SM-24-Jan-2011.pdf (accessed on November 8, 2014).
  • The Punjab Agriculturists’ Loans Act, 1958 (West Pakistan Act XVII of 1958. Source: http://punjablaws.gov.pk/laws/81.html (accessed on November 6, 2014).
  • The World Bank Group, Independent Evaluation Group. 2014. Source: http://lnweb90.worldbank.org/oed/oeddoclib.nsf/DocUNIDViewForJavaSearch/13E9C77C195A1136852567F5005D8177 (accessed on November 6, 2014).
  • Ul Hassan, M. 2007. People’s Perceptions towards the Islamic Banking: A Fieldwork Study on Bank Account Holders’ Behaviour in Pakistan. OIKONOMIKA 3, 153-176.
  • World Islamic Banking Competitiveness Report 2013-14. Source: http://www.ey.com/Publication/vwLUAssets/World_Islamic_Banking_Competitiveness_Report_201314/$FILE/World%20Islamic%20Banking %20Competitiveness%20Report%202013-14.pdf (accessed on November 6, 2014).

CREDIT COMFORTABILITY AND MICROFINANCE: A FIELD STUDY TO DETERMINE PEOPLES’ PERCEPTION ABOUT CONVENTIONAL AND ISLAMIC MICROFINANCE IN PAKISTAN

Year 2016, Volume: 3 Issue: 1, 37 - 61, 16.02.2016

Muhammad Meraj

Abstract

This paper examines credit comfortability and the role of microfinance, based on a field study which determines the perceptions of Pakistani people regarding conventional (interest based) and Islamic (interest free) microfinance. Conventional microfinance is not naïve in poverty alleviation but an in-depth analysis is needed to assess its success in poverty hit countries like Pakistan. The goals of poverty alleviation through microfinance in Pakistan have not fully achieved as majority of population have been living at below poverty line for many years. The primary data has collected through questionnaire with street intercept method during July’2014 to October’2014, in Karachi, Pakistan

Keywords: Credit comfortability, Riba free microfinance, Poverty alleviation, Shariah

References

  • Abdul-Rahman, A.R. 2007. Islamic Microfinance: A Missing Component in Islamic Banking. Kyoto Bulletin of Islamic Area Studies, 1-2.pp. 38-53.
  • Abdouli, A.H. 1991. Access to Finance and Collaterals: Islamic Versus Western Banking. JKAU. Islamic Econ. Vol. 2. pp. 55-62.
  • Ahmad, A. U. F., and Ahmad, A. R. 2008. Islamic microfinance: A case study of Australia. Journal of Islamic Economics, Banking and Finance, 4(2), 59-80.
  • Ahmed, H. 2002. Financing microenterprises: An analytical study of Islamic microfinance institutions. Islamic Economic Studies, 9(2), 27-64.
  • Ali K. (2013, May 17). Islamic Microfinance in Pakistan: The Experience so Far. [web log comment]. Retrieved from http://www.cgap.org/blog/islamic-microfinance-pakistan-experience-so-far.
  • Armendariz-de-Aghion, Beatriz and Morduch, Jonathan. 2005. The Economics of Microfinance. The MIT Press, Cambridge, Massachusetts, London, England.
  • Basharat, A., Arshad, A. and Khan, R. 2014. Efficiency, Productivity, Risk and Profitability of Microfinance Industry in Pakistan: A Statistical Analysis. Micro note 2: pp. 1-12.
  • Conroy, J. D. 2003. The challenges of micro financing in Southeast Asia. Foundation for Development Cooperation. Singapore.
  • Dhumale, R., and Sapcanin, A. 1999. An application of Islamic banking principles to microfinance. Technical Note, A study by the Regional Bureau for Arab States, UNDP, in cooperation with the Middle East and North Africa Region, World Bank.
  • Drake, D., and Rhyne, E. 2002. Commercialization of Microfinance: balancing business and development. Accion International (Organization), Stylus Pub Llc.
  • Ghosh, J. 2013. Microfinance and the challenge of financial inclusion for development. Cambridge journal of economics, bet042.
  • Global Financial Development Report (2014). source: http://econ.worldbank.org/WBSITE/EXTERNAL/EXTDEC/EXTGLOBALFINREPORT/0,,contentMDK:23492074~pagePK:64168182~piPK:64168060~theSitePK:8816097,00.html (accessed on October 15, 2014).
  • Hassan, M. K. 2010. An integrated poverty alleviation model combining zakat, awqaf and microfinance. In Seventh International Conference-The Tawhidi Epistemology: Zakat and Waqf Economy, Bangi, Malaysia.
  • Hudon, M. 2011. Ethics in Microfinance. In Beatriz Armendariz and Marc Labie (ed.). The Handbook of Microfinance. (pp. 123-141), Singapore, World Scientific Publishing Co. Pte. Ltd.
  • Iqbal, M., Ahmad, M., and Abbas, K. 2003. The Impact of Institutional Credit on Agricultural Production in Pakistan. The Pakistan Development Review 42:4(2): pp. 469–485.
  • Karim, N., Tarazi, M., and Reille, X. 2008. Islamic Microfinance: An Emerging Market Niche. CGAP Focus Note 49. Washington, D.C.
  • Khan, A. 2008. Tackling the failure of microfinance efforts through amalgamating microfinance with charity: two viable alternatives in the context of Pakistan. Australasian Accounting Business and Finance Journal, 2(2), 2.
  • Ledgerwood, Joanna, with Julie Earne and Candace Nelson, eds. 2013. The New Microfinance Handbook: A Financial Market System Perspective. Washington, DC: World Bank. doi: 10.1596/978-0-8213-8927-0.
  • Munir, K. 2012. Akhuwat: Making Microfinance Work. Standford SOCIAL INNOVATION REVIEW. Source: http://www.ssireview.org/blog/entry/akhuwat_making_microfinance_ work (accessed on February 1, 2015).
  • Navajas, S., Schreiner, M., Meyer, R. L., Gonzalez-Vega, C., & Rodriguez-Meza, J. 2000. Microcredit and the Poorest of the Poor: Theory and Evidence from Bolivia. World development, 28(2), 333-346.
  • Onakoya, A.B., and Onakoya, A.O. 2013. Islamic microfinance as a poverty alleviation tool: Expectations from Ogun State, Nigeria. Scholarly Journal of Business Administration vol. 3(2) pp. 36-43.
  • Orangi Pilot Project. 1995. Environment and Urbanization 7(2) pp. 227-236.
  • Pakistan Microfinance Review. 2013. Annual Assessment of the microfinance industry. Source: http://www.microfinanceconnect.info/assets/articles/5cfb122011df790b3f0a13791b75373d.pdf (accessed on November 6, 2014).
  • Pakistan & Gulf Economist. 2014. Source: http://www.pakistaneconomist.com/database2/pakbanks.asp (accessed on January 22, 2015).
  • Pollard, J., and Samers, M. 2007. Islamic banking and finance: postcolonial political economy and the decentering of economic geography. Transactions of the Institute of British Geographers, 32(3): 313-330.
  • Rahman, A-R-A. 2007. Islamic Microfinance: A Missing Component in Islamic Banking. Kyoto Bulletin of Islamic Area Studies, 1-2(2007): pp. 38-53.
  • Rapaport, C.B.R. 2007. Israeli Financial Gemachs: Interest-free Loan Associations, Proquest Inc.
  • Rosenberg, R., Gongalez, A, and Narain, S. 2009. Are Microfinance Interest Rates Excessive? CGAP.
  • Rosenberg, R. 1996. Microcredit Interest Rates. CGAP Occasional Paper 1.
  • Rosenberg, R. 2009. Does Microcredit Really Help Poor People. CGAP.
  • Saad, N.M. 2012. Microfinance and Prospect for Islamic Microfinance Products: The Case of Amanah Ikhtiar Malaysia. Advances in Asian Social Sciences 1(1): pp 27-33.
  • Sarker, D. 2013. Pressure on Loan Officers in Microfinance Institutions: An Ethical Perspective. Journal of Economics and Sustainable Development 4(12), 84-88.
  • Schwarz, E. 2003. His Word Our Guide. Biblical origins of Christian Beliefs and Practices. IUniverse Inc. USA.
  • State Bank of Pakistan, KAP Study report. 2014. Source: http://www.sbp.org.pk/press/2014/Kap-Study-03-Oct-14.pdf (accessed on February 9, 2015).
  • State Bank of Pakistan, Islamic Banking Bulletin. 2014. Source: http://www.sbp.org.pk/ibd/bulletin/2014/IBB-Jun-2014.pdf (accessed on February 27, 2015).
  • State Bank of Pakistan, Microfinance Department. Strategic Framework for Sustainable Microfinance in Pakistan. 2011. Source: http://www.sbp.org.pk/MFD/Strategic-Framework-SM-24-Jan-2011.pdf (accessed on November 8, 2014).
  • The Punjab Agriculturists’ Loans Act, 1958 (West Pakistan Act XVII of 1958. Source: http://punjablaws.gov.pk/laws/81.html (accessed on November 6, 2014).
  • The World Bank Group, Independent Evaluation Group. 2014. Source: http://lnweb90.worldbank.org/oed/oeddoclib.nsf/DocUNIDViewForJavaSearch/13E9C77C195A1136852567F5005D8177 (accessed on November 6, 2014).
  • Ul Hassan, M. 2007. People’s Perceptions towards the Islamic Banking: A Fieldwork Study on Bank Account Holders’ Behaviour in Pakistan. OIKONOMIKA 3, 153-176.
  • World Islamic Banking Competitiveness Report 2013-14. Source: http://www.ey.com/Publication/vwLUAssets/World_Islamic_Banking_Competitiveness_Report_201314/$FILE/World%20Islamic%20Banking %20Competitiveness%20Report%202013-14.pdf (accessed on November 6, 2014).
There are 40 citations in total.

Details

Journal Section ARTICLES
Authors

Muhammad Meraj

Publication Date February 16, 2016
Published in Issue Year 2016 Volume: 3 Issue: 1

Cite

APA Meraj, M. (2016). CREDIT COMFORTABILITY AND MICROFINANCE: A FIELD STUDY TO DETERMINE PEOPLES’ PERCEPTION ABOUT CONVENTIONAL AND ISLAMIC MICROFINANCE IN PAKISTAN. Turkish Journal of Islamic Economics, 3(1), 37-61.
AMA Meraj M. CREDIT COMFORTABILITY AND MICROFINANCE: A FIELD STUDY TO DETERMINE PEOPLES’ PERCEPTION ABOUT CONVENTIONAL AND ISLAMIC MICROFINANCE IN PAKISTAN. TUJISE. February 2016;3(1):37-61.
Chicago Meraj, Muhammad. “CREDIT COMFORTABILITY AND MICROFINANCE: A FIELD STUDY TO DETERMINE PEOPLES’ PERCEPTION ABOUT CONVENTIONAL AND ISLAMIC MICROFINANCE IN PAKISTAN”. Turkish Journal of Islamic Economics 3, no. 1 (February 2016): 37-61.
EndNote Meraj M (February 1, 2016) CREDIT COMFORTABILITY AND MICROFINANCE: A FIELD STUDY TO DETERMINE PEOPLES’ PERCEPTION ABOUT CONVENTIONAL AND ISLAMIC MICROFINANCE IN PAKISTAN. Turkish Journal of Islamic Economics 3 1 37–61.
IEEE M. Meraj, “CREDIT COMFORTABILITY AND MICROFINANCE: A FIELD STUDY TO DETERMINE PEOPLES’ PERCEPTION ABOUT CONVENTIONAL AND ISLAMIC MICROFINANCE IN PAKISTAN”, TUJISE, vol. 3, no. 1, pp. 37–61, 2016.
ISNAD Meraj, Muhammad. “CREDIT COMFORTABILITY AND MICROFINANCE: A FIELD STUDY TO DETERMINE PEOPLES’ PERCEPTION ABOUT CONVENTIONAL AND ISLAMIC MICROFINANCE IN PAKISTAN”. Turkish Journal of Islamic Economics 3/1 (February 2016), 37-61.
JAMA Meraj M. CREDIT COMFORTABILITY AND MICROFINANCE: A FIELD STUDY TO DETERMINE PEOPLES’ PERCEPTION ABOUT CONVENTIONAL AND ISLAMIC MICROFINANCE IN PAKISTAN. TUJISE. 2016;3:37–61.
MLA Meraj, Muhammad. “CREDIT COMFORTABILITY AND MICROFINANCE: A FIELD STUDY TO DETERMINE PEOPLES’ PERCEPTION ABOUT CONVENTIONAL AND ISLAMIC MICROFINANCE IN PAKISTAN”. Turkish Journal of Islamic Economics, vol. 3, no. 1, 2016, pp. 37-61.
Vancouver Meraj M. CREDIT COMFORTABILITY AND MICROFINANCE: A FIELD STUDY TO DETERMINE PEOPLES’ PERCEPTION ABOUT CONVENTIONAL AND ISLAMIC MICROFINANCE IN PAKISTAN. TUJISE. 2016;3(1):37-61.