Risk Mitigation and Financing Constraints: Towards the Development of Sustainable Islamic Microfinance Institutions in Bangladesh

Abstract

Studies on Islamic microfinance sustainability and its development are an important contribution to thought in the Islamic finance arena. The concept of Islamic microfinance is relevant given the global socioeconomic problems which have negatively impacted the Muslim ummah (community) and society in general and widened the gap between the poor and the rich. The Muslim ummah is in need of an economy that will bridge the gap between the various strata of society. Islamic microfinance is considered an alternative Sharīʿah-compliant tool for Muslims to redistribute their wealth in a way that will make the nation productive.