IDEAS home Printed from https://ideas.repec.org/h/spr/prbchp/978-981-97-5400-7_20.html
   My bibliography  Save this book chapter

The Challenges and Opportunities of COVID-19 for Islamic Microfinance Institutions in Bangladesh

In: Contemporary Business Research in the Islamic World

Author

Listed:
  • Md Nazim Uddin

    (Ankara University
    International Islamic University)

  • Ahasanul Haque

    (International Islamic University)

  • Zohurul Anis

    (Rajshahi Univgrsity)

Abstract

This study focuses on the Urban Poor Development Scheme (UPDS) and the Rural Development Scheme (RDS), both of which are types of Islamic Microfinance Institutions. It examines the effects of the COVID-19 pandemic on these two categories of Islamic Microfinance Institutions (IsMFIs). The significant decline in economic activity during the pandemic has significantly impacted the lives of several people, especially those who are debtors of multinational Islamic Microfinance Institutions (IsMFIs). A more robust understanding of the need for financial inclusion and increased demand for digital financial services are two instances of the potential that Bangladeshi IsMFIs have identified their challenges. The significance of this research lies in the pivotal role that IsMFIs assume in alleviating poverty at the national level, namely among marginalized populations. This study fills the knowledge gap about the opportunities and challenges that COVID-19 poses for IsMFIs operating in Bangladesh. The principle behind this methodology is library research, which entails gathering and assessing data from various sources. Yearly reports from UPDS, RDS, and the Bangladesh Bureau of Statistics supplement data gathering. The study process was underpinned by the use of robust quantitative research methodologies. Strategies for expanding foreign financial institutions in Bangladesh following the COVID-19 pandemic are formulated based on the study results, highlighting the potential for significant growth and expansion in this sector. Due to the COVID-19 pandemic's impact on the microfinance sector, this study examines the current scholarly discourse on the obstacles and prospects that IsMFIs in Bangladesh encounter. Furthermore, it will furnish astute insights concerning these obstacles and prospects. This study's findings provide practical guidance for policymakers and other stakeholders in advocating for IsMFIs, thereby mitigating the disease's impact on Bangladesh's impoverished population.

Suggested Citation

  • Md Nazim Uddin & Ahasanul Haque & Zohurul Anis, 2024. "The Challenges and Opportunities of COVID-19 for Islamic Microfinance Institutions in Bangladesh," Springer Proceedings in Business and Economics, in: John Fraedrich & Marina Pirtskalava & Tornike Khoshtaria & Hasan Terzi & Mehmet Bayirli & Baker Al S (ed.), Contemporary Business Research in the Islamic World, pages 365-383, Springer.
    • Handle: RePEc:spr:prbchp:978-981-97-5400-7_20
    DOI: 10.1007/978-981-97-5400-7_20
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:prbchp:978-981-97-5400-7_20. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.