Islamic Microfinance and Sustainable Development Goals in Bangladesh
Date
2018
Journal Title
Journal ISSN
Volume Title
Publisher
Centre for Research on Islamic Banking & Finance and Business
Abstract
The main objective of this study is to explore the Islamic Microfinance Instruments in achieving the Sustainable
Development Goals (SDGs) in Bangladesh. The methodology of this study is based on secondary data including
existing relevant literature, and annual reports of different financial institutions. The findings of this study show
that Islamic microfinance institutions have a broader scope to attain SDGs through their various investment
modes.The study categorizes the Islamic microfinance instruments into four broadly parts which are profit and
loss sharing financing, non-profit & loss sharing financing, Islamic social enterprise based financing and charity
based financing which have a positive effect to the real sector of the sustainable economy that will lead towards
achieving SDGs. The Islamic Microfinance institutions are continuing their efforts in attaining SDGs through
their various products. With growing the potentiality, Islamic microfinance has both direct and indirect impacts
on ensuring economic development, environmental sustainability, and social inclusion by creating employment
opportunity, spreading knowledge and skills, making self-dependent, protecting from adverse effects. The paper
also tries to put recommendations to reduce the challenges of Islamic microfinance acting as impediments to
achieving the SDGs.
Description
Keywords
Islamic Microfinance (IMF), Islamic Microfinance Institutions (IMFIs), Sustainable Development Goals (SDGs), Bangladesh
Citation
Volume 2; Number 1; 2018; Page: 67-80