Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions
This paper aims to explore the role of Islamic social finance and financial institutions in contributing towards improving financial inclusion through financial education among the poor. While there have been a lot of efforts undertaken by financial institutions, especially microfinance institutions, to a...
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| Format: | Article |
| Language: | English |
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Universiti Sultan Agung, Semarang
2016
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| Online Access: | http://irep.iium.edu.my/52253/1/52253_Improving%20financial%20education%20to%20the%20poor.pdf |
| _version_ | 1825649894061244416 |
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| author | Arsyianti, Laily Dwi Kassim, Salina |
| author_facet | Arsyianti, Laily Dwi Kassim, Salina |
| author_sort | Arsyianti, Laily Dwi |
| collection | IIUM |
| description | This paper aims to explore the role of Islamic social finance and financial institutions in contributing towards improving financial inclusion through financial education among the poor. While there have been a lot of efforts undertaken by financial institutions, especially microfinance institutions, to achieve the financial inclusion agenda, the financial inclusion programs would normally require high operational costs which many financial institutions would consider them as not commercially viable. The costs then are transferred back to the customers, resulting in the financing/ credit cost higher than commercial financial institutions. As a result, incidences of bankruptcyincrease when the cost of credit is higher. Thus, financial education is essential for average family in managing their day to day financial resources. While financial institutions keep busy with financial inclusion agenda and trying to find the best way without disturbing their core business agenda, Islam offers social finance institution (amil and nadzir) as the solution to this problem. |
| first_indexed | 2024-03-05T23:54:20Z |
| format | Article |
| id | oai:generic.eprints.org:52253 |
| institution | International Islamic University Malaysia |
| language | English |
| last_indexed | 2024-03-05T23:54:20Z |
| publishDate | 2016 |
| publisher | Universiti Sultan Agung, Semarang |
| record_format | dspace |
| spelling | oai:generic.eprints.org:522532018-05-22T01:08:13Z http://irep.iium.edu.my/52253/ Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions Arsyianti, Laily Dwi Kassim, Salina HG Finance HG179 Personal finance HT101 Urban groups. The city. Urban sociology This paper aims to explore the role of Islamic social finance and financial institutions in contributing towards improving financial inclusion through financial education among the poor. While there have been a lot of efforts undertaken by financial institutions, especially microfinance institutions, to achieve the financial inclusion agenda, the financial inclusion programs would normally require high operational costs which many financial institutions would consider them as not commercially viable. The costs then are transferred back to the customers, resulting in the financing/ credit cost higher than commercial financial institutions. As a result, incidences of bankruptcyincrease when the cost of credit is higher. Thus, financial education is essential for average family in managing their day to day financial resources. While financial institutions keep busy with financial inclusion agenda and trying to find the best way without disturbing their core business agenda, Islam offers social finance institution (amil and nadzir) as the solution to this problem. Universiti Sultan Agung, Semarang 2016-07 Article PeerReviewed application/pdf en http://irep.iium.edu.my/52253/1/52253_Improving%20financial%20education%20to%20the%20poor.pdf Arsyianti, Laily Dwi and Kassim, Salina (2016) Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions. International Journal of Islamic Business Ethics, 1 (1). pp. 44-52. http://jurnal.unissula.ac.id/index.php/index/search/authors/view?firstName=Laily&middleName=Dwi&lastName=Arsyianti&affiliation=PhD%20Candidate%2C%20Institute%0D%0Aof%20Islamic%20Banking%20and%0D%0AFinance%2C%20International%0D%0AIslamic%20University%20Malaysia%0D%0Aand%20Lecturer%2C%20Department%20of%0D%0AEconomics%2C%0D%0ABogor%20Agricultural%0D%0AUniversity&country= |
| spellingShingle | HG Finance HG179 Personal finance HT101 Urban groups. The city. Urban sociology Arsyianti, Laily Dwi Kassim, Salina Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions |
| title | Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions |
| title_full | Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions |
| title_fullStr | Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions |
| title_full_unstemmed | Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions |
| title_short | Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions |
| title_sort | improving financial education to the poor at the bottom of pyramid the role of social finance vis a vis financial institutions |
| topic | HG Finance HG179 Personal finance HT101 Urban groups. The city. Urban sociology |
| url | http://irep.iium.edu.my/52253/1/52253_Improving%20financial%20education%20to%20the%20poor.pdf |
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