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Interest-Free Microfinance Arrangements and Its Impact on the Livelihood of Women in India

Author

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  • Faizan Khan Sherwani

    (Jamia Hamdard University New Delhi, India Author-2-Name: Sanaa Zafar Shaikh Author-2-Workplace-Name: University of Houston Taxas, U.S.A Author-3-Name: Zoya Zafar Shaikh Author-3-Workplace-Name: University of Houston Taxas, U.S.A Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)

Abstract

" Objective - The purpose of this study is to examine the impact of interest-free microfinance arrangements on the livelihood of women in India. Studies reveal that the existence of interest-free microfinance, as well as its outcome on the livelihood of weaker sections of society (particularly women), overall improved their well-being. Methodology � Exploratory and cross-section analysis is used to understand the satisfaction level among non-conventional microfinance arrangements. Survey of non-conventional microfinance beneficiaries exposes the status of women's' earnings, financial literacy, skills development, employment generation, household savings and poverty alleviation. Findings � Interest-free microfinance products like Zakat, Sadaqah, and KarzeHasna will successfully meet micro-financing core objectives of poverty alleviation, women empowerment, gender equality, prosperity, and employment. The analysis showed that the performance of interest-free microfinance consumers is better than conventional microfinance consumers. Novelty � This study is an original which is based on the demographic, sociocultural and regulatory framework of interest-free micro finance systems to identify the acceptability in the Indian financial system. The discussions in the study are mainly concerned with the empirical review of the impact and effect of interest-free microfinance on the lifestyle of female microfinance users after obtaining a loan i.e., their income, expenditure, saving, entrepreneurship, consumption, and women participation in earning income in India. Type of Paper - Empirical"

Suggested Citation

  • Faizan Khan Sherwani, 2021. "Interest-Free Microfinance Arrangements and Its Impact on the Livelihood of Women in India," GATR Journals jfbr188, Global Academy of Training and Research (GATR) Enterprise.
    • Handle: RePEc:gtr:gatrjs:jfbr188
    DOI: https://doi.org/10.35609/jfbr.2021.6.2(3)
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    References listed on IDEAS

    as
    1. Mohieldin , Mahmoud & Rostom , Ahmed & Fu, Xiaochen & Iqbal, Zamir, 2012. "The Role of Islamic Finance in Enhancing Financial Inclusion in Organization of Islamic Cooperation (OIC) Countries," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 20, pages 55-120.
    2. Barua, Abheek & Kathuria, Rajat & Malik, Neha, 2016. "The Status of Financial Inclusion, Regulation, and Education in India," ADBI Working Papers 568, Asian Development Bank Institute.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Entrepreneurship; Livelihood; Education Development; Living Standards; Women Empowerment;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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