An aspirational hope of a ShariMODIFIER LETTER LEFT HALF RINGah-based microfinance model to alleviate extreme poverty
Document Type
Article
Publication Date
10-1-2023
Abstract
PurposeThis study aims to propose a ShariMODIFIER LETTER LEFT HALF RINGah-based and information and communication technology-driven microfinance model (SIMM) to reduce extreme poverty in rural areas. Existing microfinance models run by microfinance institutions exclude severely poor individuals from their activities. Design/methodology/approachThis study uses an exploratory sequential mixed-method design structured as Studies 1 and 2. Study 1 uses the grounded theory methodology to develop the emergent SIMM through interviews and focus group discussions with the participants (12 rich, 6 rural elites and 18 poor) of the target village. Study 2 uses a survey of 421 household members in the target village to evaluate their attitudes (ATT), subjective norms (SN) and perceived behavioural control (PBC) related to SIMM. Partial least squares-based structural equation modelling is used to evaluate relationships between constructs. FindingsStudy 1 identifies seven themes, in which aspirational hope is recognised as a core theme. Study 2 indicates significant relationships between ATT and PBC and between SN and PBC. Thus, the SIMM can alleviate poverty in rural communities. Practical implicationsThe application of the SIMM in the pilot study provides aspirational hope for eradicating extreme poverty. Social implicationsOther rural communities should be encouraged to apply the SIMM to alleviate extreme poverty in their villages. Originality/valueThis study contributes to the development of an innovative microfinance model (SIMM) to eradicate extreme poverty in rural areas.
Keywords
Microfinance, Sharah, Microfinance model, Poverty alleviation, Mixed-method
Divisions
DeptofSyariahEconomics,Computer
Publication Title
International Journal of Islamic and Middle Eastern Finance and Management
Volume
16
Issue
6
Publisher
Emerald
Publisher Location
Floor 5, Northspring 21-23 Wellington Street, Leeds, W YORKSHIRE, ENGLAND