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...
| Main Authors: | , |
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| Format: | Proceeding Paper |
| Language: | English English |
| Published: |
2015
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/46108/ http://irep.iium.edu.my/46108/1/Laily_AICIF_2015_notification_for_paper.pdf http://irep.iium.edu.my/46108/2/Semarang_Paper_Laily_30.10.2015_%281%29.pdf |
| _version_ | 1848782908054044672 |
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| author | Arsyianti, Laily Dwi Kassim, Salina |
| author_facet | Arsyianti, Laily Dwi Kassim, Salina |
| author_sort | Arsyianti, Laily Dwi |
| building | IIUM Repository |
| collection | Online Access |
| 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 bankruptcy increase 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 | 2025-11-14T16:12:55Z |
| format | Proceeding Paper |
| id | iium-46108 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T16:12:55Z |
| publishDate | 2015 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-461082015-12-17T08:00:27Z http://irep.iium.edu.my/46108/ 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 HB522 Income. Factor shares.Interest.Profit.Entrepreneurship HN Social history and conditions. Social problems. Social reform 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 bankruptcy increase 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. 2015 Proceeding Paper NonPeerReviewed application/pdf en http://irep.iium.edu.my/46108/1/Laily_AICIF_2015_notification_for_paper.pdf application/pdf en http://irep.iium.edu.my/46108/2/Semarang_Paper_Laily_30.10.2015_%281%29.pdf Arsyianti, Laily Dwi and Kassim, Salina (2015) Improving financial education to the poor at the bottom-of-pyramid: the role of social finance vis a vis financial institutions. In: 3rd Asean Islamic Finance Conference (AICIF 2015), 18th-19th November 2015, Semarang, Indonesia. (Unpublished) http://aicif2015.unissula.ac.id/event/ |
| spellingShingle | HB522 Income. Factor shares.Interest.Profit.Entrepreneurship HN Social history and conditions. Social problems. Social reform 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 | HB522 Income. Factor shares.Interest.Profit.Entrepreneurship HN Social history and conditions. Social problems. Social reform |
| url | http://irep.iium.edu.my/46108/ http://irep.iium.edu.my/46108/ http://irep.iium.edu.my/46108/1/Laily_AICIF_2015_notification_for_paper.pdf http://irep.iium.edu.my/46108/2/Semarang_Paper_Laily_30.10.2015_%281%29.pdf |