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The purpose of this study is to establish whether religion (interest) is an impediment to Nigeria’s financial inclusion targets to be achieved by the year 2020.

The data were collected through semi-structured interviews and documentary evidence. Thematic analysis was used to analyze the interview responses.

It was found that all the Central Bank of Nigeria (CBN) programs that contribute toward achieving financial inclusion are interest-based ones. Further, none of them provides a non-interest window except Commercial Agricultural Credit Schemes (CACS). Even the CACS is not fully Shari’a-compliant, as it requires further modification. Despite the fact that interest is condemned in Islam, a majority of Muslims have been found to be accessing interest-based funds. Hence, interest is not a factor that hinders the achievement of reducing Nigeria’s financial exclusion rate to 20 per cent by the year 2020.

This study inquired into the programs under the Development Finance Department of the CBN by using semi-structured interviews and documentary evidence. Other programs of the federal government, state governments, NGOs and other private organizations and individuals are not considered. The findings have pointed out the areas to conduct future studies on religion and financial inclusion.

Although Muslims who complained about interest are a minority, there is the need to provide non-interest windows in the programs before they start shunning these programs, as a lot influential Muslim scholars are currently preaching against the interest.

The paper is one of the few studies that support the view that interest does not hinder the achievement of financial inclusion in a Muslim majority country.

The purpose of this study is to extend the extant literature on the relationship between financial risk tolerance (FRT), awareness of Islamic financial principles (AWIF) and positive financial behaviour (FB) on financial satisfaction (FS) of micro, small and medium enterprise (MSME) owners by principally investigating the mediating effect of access to Islamic financing (AIF) on these relationships.

A quantitative survey method of data collection through a self-administered questionnaire. The sample of 384 MSME owners was selected in which 208 questionnaires were retrieved and analysed using the partial least square structural equation modelling (SEM).

The result shows that the relationships between FRT and AIF as well as FB and AIF are not significant. However, the AWIF–AIF relationship was found to be positively significant. Moreover, only the mediating effect of AIF on the AWIF–FS relationship was established.

The result implies that AIF could strongly influence the FS of MSME owners, and the AWIF–FS relationship is better explained with sufficient AIF. However, AIF could not mediate the relationships between FRT–FS and FB–FS. Therefore, policymakers and MSME owners should emphasize on AWIF and AIF to enhance FS.

This study pioneers the examination of the mediating influence of AIF on FRT, AWIF, FB and FS of MSME owners in a single framework. Despite the importance of MSME owners on economic sustainability, literature on MSME owners' FS is lacking expressly among developing countries, particularly in Nigeria. This study also revealed new theoretical and practical knowledge by illuminating the mediating effect of AIF on AWIF–FS relationship.

This study aims to establish whether the corporate social responsibilities (CSR) practices of Islamic banks are compatible with the sustainable development goals (SDGs) of the United Nations.

A documentary research method was applied by examining the annual reports of selected Islamic banks from Bangladesh, Indonesia, Pakistan, the UAE and Malaysia for 2020, which coincided with the COVID-19 pandemic.

The results indicate that Islamic banks discharged various CSR activities and contributed huge funds toward achieving the SDGs of the United Nations. Specifically, the banks prioritized the following CSR sectors: education, health, environmental protection and disaster relief and management. Besides, they provided support to micro and small businesses toward poverty alleviation.

This study examined only CSR reports of the selected Islamic banks for 2020.

The findings have practical implications that may enable Islamic banks across the globe to improve their CSR initiatives, activities and reporting toward realizing the SDGs. They are also helpful to policymakers and regulators for the provisions of policies and regulations to motivate or mandate Islamic banks to effectively improve their CSR practices.

CSR practices of Islamic banks can significantly support the SDGs toward mitigating many economic and social problems.

This study applied a relevant but rarely used method to explore the role of CSR practices of Islamic banks in achieving the SDGs.

The purpose of this paper is to augment the present literature on the relationship between relative financial deprivation (RFD), financial anxiety (FA), access to Islamic financing (AIF) and financial satisfaction (FS) of micro, small and medium enterprise (MSME) owners. Principally, the study examines the moderating role of AIF on the RFD–FS and FA–FS relationships.

Quantitative survey approach was used to collect data through self-administered questionnaires from MSME owners. Partial least square (PLS) structural equation modelling (SEM) version 3.2.7 was used to analyse 208 retrieved questionnaires.

The results confirm that the RFD–FS relationship is negatively significant, but the FA–FS relationship is not significant. However, the direct relationship between AIF and FS is positively significant. Conversely, AIF failed to moderate the RFD–FS and FA–FS relationships.

The study specifies that the existence of RFD will decrease the FS of MSME owners, and therefore, RFD should be eliminated at all costs. However, the greater the AIF, the stronger will be the FS of MSME owners. Thus, policymakers and owners of MSMEs should emphasize on AIF to foster FS. Nevertheless, AIF could not redirect the negative impact of RFD and FA on MSME owners’ FS.

This study, to the best of the authors’ knowledge, is the first to examine the moderating role of AIF on the RFD–FS and FA–FS relationships among MSME owners. Notwithstanding the importance of small business owners for economic development, the literature on MSME entrepreneurs FS has been neglected. This study also uncovers new theoretical knowledge by revealing the inability of AIF to alter the RFD–FS and FA–FS relationships.

This paper aims to explore the potential of the awareness and knowledge of Islamic social finance (zakat, waqf and Islamic microfinance) to alleviate poverty during the COVID-19 pandemic with the moderating effect of ethical orientation.

The data were collected through the administration of paper-based and electronic questionnaires to 400 respondents out of which only 277 were found valid for analysis.

The study showed that by direct relationship, the awareness and knowledge of Islamic social finance instruments have a potentially significant positive contribution to poverty alleviation during the COVID-19 pandemic except for zakat that has an insignificant positive contribution. Ethical oriental has also a significant positive contribution. Contrary to expectation, the moderating effect of ethical orientation has changed zakat and waqf to have significant negative and insignificant positive contributions, respectively. Only Islamic microfinance has endured the moderating effect to continue contributing significantly and positively to the reduction of poverty.

The study explored only the potential impact of the awareness and knowledge of Islamic social finance to mitigate the extreme poverty caused by the COVID-19 pandemic in Nigeria.

This study clearly showed the need to create enabling laws and policies to support the operations of zakat and waqf institutions to achieve their objectives effectively and efficiently. These two institutions should be integrated with Islamic microfinance for the possibility of getting better outcomes.

There should be massive campaigns to restore religious, social and political ethics to enhance the socio-economic development of Nigerians based on the principles of brotherhood.

This study provides unexpected and unusual results showing the inability of zakat and waqf institutions to alleviate poverty due to poor ethical orientation.

This study explores the benefits of business financial inclusion from the Islamic perspective in Nigeria by selecting Kano state as a case study.

Primary data were generated through semi-structured interviews with experts who comprised professional accountants/consultants and experienced traders. Thematic analysis was applied to examine the data collected. In addition, observations were made in some selected stores and shops to complement the interview results.

The study finds that the benefits of business financial inclusion include recordkeeping improvement, reduction of the risks of bad debts, reduction of the risks associated with cash, enhancing business zakāh for poverty alleviation, sales improvement and business growth, getting supports from government and other development organizations and the provision of employment opportunities.

This study is purely qualitative, and, as such, it has some limitations in terms of generalization.

The practical implication of this study is that the use of electronic payment methods, especially point of sales, enhances the business financial inclusion, which consequently maximizes their wealth and contributes to the reduction of poverty to the barest minimum in the society.

The social implication of the findings is that businesses that are financially included are in a better position to discharge religious, philanthropic and other benevolent activities, such as zakāh, qard hasan, waqf and sadaqah, for the welfare of the ummah.

The study points out the benefits of financial inclusion not only to businesses but also to other members of the society at large.