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Micro‐finance institutions are critical to Africa's quest for solutions to the continent's development challenge. The area of their greatest potential impact, rural Africa, is not only home to the bulk of the continent's population, but also the vast majority of Africa's poor. This paper not only defines MFIs with examples from Zambia, South Africa, Mali and Zimbabwe, it also establishes a clear link between MFIs and both poverty eradication and the empowerment and equality of women, two of the major Millennium Development Goals. The paper concludes with some policy recommendations and a set of “best practices” for the future success of MFIs on the continent, including the need to ensure flexibility and careful government regulation and supervision of MFIs.

The purpose of this paper financial technology (FinTech) revolutions are promptly remodelling the worldwide financial industry and facilitating financial inclusion initiatives with the aid of micro-finance institutions. Such hi-tech modifications are anticipated to sell the stableness of the financial system and lessen its predominant actors’ risk-taking behaviour. However, there needs to be more practical proof to guide the effect of financial inclusion based on financial technology on the risky behaviour of South Asia micro-finance institutes.

Therefore, the authors industrialised a fresh index to calculate financial inclusion based on financial technology and empirically measure its position in decreasing the risk-taking approach of micro-finance institutes. The use of numerous robustness examinations endorsed the rationality of the authors’ outcomes.

Z-scoring or standard scoring outcomes of FinInc support the extant studies displaying its incredible connection with economic stability, which interprets as a terrible courting with risky behaviour of micro-finance institutes. Consequently, the authors highlighted the significance of the universality and openness of financial technology solutions in minimising risk of micro-finance institutes. Moreover, the authors concluded that financial technology is greater related to small-size micro-finance institutes.

This study currently focusing South Asia, which has not been explored before, and it is the first time to research financial inclusion with Fintech in this area.

This paper aims to investigate whether small finance banks (SFBs) in India are working towards financial inclusion through qualitative studies.

This paper uses a phenomenological approach in which semi-structured interviews were conducted with the employees of two SFBs in Mumbai with different specializations. Employee experience was captured to grasp, interpret and code data for the creation of different themes.

This research shows that the current literature on financial inclusion is inadequate to explain the behavior of the needy in India. Study found multiple themes of financial inclusion, namely, financial literacy, self-esteem, use of technology, prompt repayment, credit identity, cross-referencing and financial stability. Although overall results are positive, to generalize the results, SFBs need to spend some more time in business. The findings of this study can be of global benefit to micro-finance organizations of a similar scale to achieve financial inclusion and business improvement.

This qualitative study was performed at a single location and with a limited sample size, which underlines the need for repeated exercises at multiple locations with a larger sample size to establish a broader logical generality. It also points out the need for a study of employee themes to enhance the business processes of SFBs.

To the best of the authors’ knowledge, this qualitative study is first attempt to figure out the extent of work done by SFBs in India in promoting financial inclusion. Themes related to financial inclusion can provide further thought process for policymakers for financial inclusion and business improvement. Findings refer not only to Indian organizations but also to small banks around the world to recognize the underpinnings of financial inclusion and what small banks and micro-finance institutions can do to make it meaningful.

This study aims to explore the governance practices of profit and loss sharing (PLS) financing in connection to the socio-economic development objective of the Islamic financial institutions (IFIs).

The study context included IFIs from Yogyakarta, Indonesia. A two-stage research methodology was used. In the first stage, top ten IFIs – three Islamic commercial banks, three Islamic rural banks and four Islamic micro finance institutions – were considered for in-depth interviews. Formal interview protocol was followed to record and transcribe interviews. In the second stage, a questionnaire survey considered 26 IFIs. Unit of measurement was individuals working at the mid and top level from the selected organisations.

The governance process of providing and managing PLS financing involves several critical factors, such as the financing duration, instalment timing, contract approval and cost, basis of sharing, risk management, customer empowerment and Sharīʿah compliance. Contrary to the existing belief, the authors found that PLS financing is primarily available for shorter period of time (three years) and it is unavailable for start-ups. Also, newer IFIs rely less on PLS financing than the older IFIs. In addition to worrying about the higher risk of return, IFIs considered government regulation on PLS to be tighter in terms of provision and rescheduling.

This study is limited to investigating IFIs in Yogyakarta, Indonesia. This limitation is covered by taking samples from three types of IFIs.

For IFI practitioners, these findings are expected to improve their confidence in undertaking more progressive efforts in adopting governance policies that contribute to greater socio-economic justice.

If the governance good practices are implemented by all IFIs, a higher degree of social welfare and customer awareness can be achieved.

Across all types of IFIs, this study’s results confirm that PLS is less preferred for long-term and start-up financing. These findings should be the ingredients to push research on PLS further, as these findings grossly violate the theory. Fulfilling these gaps could strengthen the nexus between PLS and socio-economic justice.

Using system theory, this paper aims to interrogate the impact of Boko-Haram on bank administration. The paper explains how death, injury and property destruction caused by terrorism affect banking supervision and structures.

With the aid of a mixed research method, this paper conducted 47 interviews. It extracted secondary data from the Central Bank of Nigeria database, the National Deposit Insurance Corporation publications, Enhancing Financial Innovation and Access Survey, the World Bank database and the Global Terrorism Index. Descriptive, content and regression analysis was used in this research.

With a significant regression model (p-value < 0.05), the analysis shows that terrorism accounts for 84.02% variation in banking administration. The impact of Boko-Haram on banking administration is negatively significant, especially in the areas like on-site supervision of Money Deposit Banks/Micro-finance Institutions and citizens’ accessibility to financial systems.

This paper generates new knowledge in the thematic area, which is still grey. The influence of terrorism on financial institutions as an element of economic governance is less researched. Hence, the strategic linkage of the impact of Boko-Haram on banking administration as a component of financial institutions. Therefore, this paper contributes to the existing body of literature on terrorism and economic governance.

This study examines why low-wealth women entrepreneurs forgo mobile enabled money services and government supported micro finance for informal, community-based revolving loans in rural Nigeria.

Thematic analysis of 25 interviews with women in rural, south-west Nigeria. Entrepreneurial ecosystem theory, in the gendered context of micro finance and community-based lending, is employed.

This study explains the paradox of forgoing seemingly accessible mobile enabled credit, and formal credit schemes (e.g. micro-finance programs) for informal, one-on-one borrowing. Convenience and trust-based relationships with respected community members ease the burden of time scarcity and vulnerability associated with formal capital. Flexible terms, autonomy, self-reliance and knowing who one is dealing with make Esusu a preferred source of finance. Findings are discussed in the context of gendered entrepreneurial ecosystems in which participants conduct business.

The sample is not representative of women entrepreneurs in rural Nigeria. Survivorship bias is acknowledged. Further research is needed on the psychological risks of informal capital and the benefits of community-based lending.

Measures to scale mobile enabled credit, without commensurate interventions to address time management and other structural issues that confront women traders, limit their utility and impacts. Power differentials between women traders and lenders must also be considered in the design of lending products. Training of women traders and formal lenders should incorporate curricula about gender gaps in capital markets and systematic gender challenges to support entrepreneurs who seek to grow beyond subsistence enterprises.

This study documents decision criteria that motivate informal rural women traders to employ community-based revolving credit or Esusu. Findings inform measures to increase women entrepreneurs' access to capital in a rural sub-Saharan Africa contexts.

The purpose of this paper is to examine the role that social capital plays in the determination and distribution of business earnings of female entrepreneurs in selected rural communities of Ogun State, Nigeria.

The theoretical foundation of social capital and its relationship to informal finance was used in a modified Mincer's model to examine the distribution of earnings among a sample of members of informal self‐help groups. The study relied on a set of secondary data collected from a survey of 275 female micro‐entrepreneurs in five rural communities in Ogun State, Nigeria. The analysis of data was done with the use of SPSS computer software while the ordinary least squares regression technique was used in the models' estimation.

The findings show that though human capital variables contribute to earnings in the usual Mincer's parlance, social capital as well as neighbourhood effect variables appear much more important determinants.

The study quantified and applied five social capital variables in the estimated earnings function and three of these variables were found to be statistically significant in their effects on earnings distribution among the study sample. The study concluded by advocating a multi‐disciplinary approach to the study of enterprise development as well as a coordinated approach by the government to promote self‐help organisations among women in the rural areas.

This research aims to explore the theoretical nature of salam contract in depth, the extent of its use in the banking arena of Malaysia and to test the theoretical feasibility of its future application by the Islamic banks in Malaysia by suggesting an Islamic banking product structure based on salam contract.

This is a legal exploratory study primarily focused on library research.

Salam contract is more susceptible to risks than the rest of the Islamic commercial contracts used by the Islamic banks in Malaysia and none of the Islamic banks in the country utilize this type of contract as a mode of financing. However, the research indicates that a feasible banking product based on salam contract could be formulated to help poor farmers in the country. To prove this a new model product based on salam contract to help farmers is created by the authors and the pros and cons of the product with the risk mitigating ways are explored. It is found that theoretically, this product is workable.

This research will complement the knowledge based on practical applicability of salam and is targeted to the Islamic financial Institutions in Malaysia, who are the prospective beneficiaries.

To argue a case for a paradigm shift in the way urban cooperative banks (UCBs) are managed, governed, and regulated in India to enable them to enhance their contributions to achieving greater degree of financial inclusion, and more broad‐based growth.

The paper first surveys the quantitative importance of the UCBs in India, and their key performance indicators. Various official reports by the country's Central Bank, the Reserve Bank of India (RBI), and other relevant organizations are used extensively. The paper then identifies key areas of reforms, centering primarily on the current business model, governance and regulation practices, and capital adequacy. It then argues for a change in a paradigm shift by the UCBs, and how better governance and regulatory structure can assist this shift.

The paper finds that if the UCBs are to remain relevant and play a significant developmental role in India, they will require same quality of governance and regulation as well as professionalism and modernization as the mainstream commercial banks. The governance and regulatory structures need to be brought in conformity with India's current and prospective economic structure; and relevant laws modernized. This requires a paradigm shift in the role of UCBs.

The research has been based primarily on secondary sources, particularly various reports by the RBI, the country's Central Bank. Better understanding of the reasons for differences between well‐governed and financially sound UCBs on one hand, and those that are not, requires focused interviews and more searching examination of the operating environment and financial statements of a sample of the UCBs. This could be the next stage of research.

This paper represents a part of public debate on ways of integrating the UCBs into the mainstream banking sector. This is an important public policy issue as even though the UCBs represent relatively small proportion of the total banking assets, they still represent a systemic risk to India's financial system, and without reforming them, broad‐based economic growth would be difficult to achieve.

Today’s financial reporting inherits its origin in money, numbers and accounting dated back 7,000 years in Mesopotamia. The Italian Luca Pacioli, “first person to publish a work on double-entry bookkeeping”¹ is regarded as the father of accounting and bookkeeping. In USA, SEC issued its first Accounting Series Release which appeared to be Commission’s views on auditing and accounting, later, in 1982 has become known as Financial Reporting Releases. Today more than 100 countries permit publicly held companies to use International Financial Reporting Standards. This meteoric rise for use of financial reporting was due to a worldwide demand from regulators, lenders, trade partners, businesses, investors and policy makers. “The Companies Act of 1994 mandates requirement for financial reporting by all companies in Bangladesh.”² Banks’ reporting formats and disclosures in Bangladesh based on BAS 30 is similar to the requirements of the Companies Act of 1994. The research depicts how the two banking institutions of Bangladesh – Islami Bank Bangladesh Limited (IBBL) and Grameen Bank having two philosophical objectives – uniquely present their results of operation under a uniform financial reporting system and how they differ in their financial operations.