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1 – 10 of 15Wasiullah Shaik Mohammed and Khalid Waheed
The purpose of this paper is to understand interest-free microfinance practices in India, identify issues and recommend possible solutions.
Abstract
Purpose
The purpose of this paper is to understand interest-free microfinance practices in India, identify issues and recommend possible solutions.
Design/methodology/approach
To achieve the proposed objectives, Bait-un-Nasr (BuN) Urban Cooperative Credit Society, located in Mumbai, India, is considered for the case study. The study is based on both primary and secondary data. The primary data are collected through questionnaires and secondary data from various sources. Performance of the institution is assessed in terms of growth and sustainability indicators.
Findings
It is found that BuN has been successful in providing interest-free microfinance services in India. A few operational issues have been highlighted and possible solutions are recommended. Moreover, it is found that in comparison to the microfinance industry standards, the performance of BuN has been lower.
Research limitations/implications
BuN is evaluated from only growth and sustainability aspects and not from the aspect of the socio-economic impacts of its services on the lives of customers.
Practical implications
This study would become a documented source of interest-free microfinance practices in India. Moreover, the recommendations provided, if implemented, would help BuN in further growth and development.
Social implications
This study would help create awareness in the society about the practices of interest-free microfinance.
Originality/value
This paper highlights the interest-free microfinance practices in India that have not received the needed attention. The paper also attempts to identify key issues pertaining to interest-free microfinance with possible solutions.
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Shagufta Tariq Khan, Mohd Abass Bhat and Mohi-Ud-Din Sangmi
This study investigates the effectiveness of microfinance-backed entrepreneurship as a mechanism for the holistic empowerment of women.
Abstract
Purpose
This study investigates the effectiveness of microfinance-backed entrepreneurship as a mechanism for the holistic empowerment of women.
Design/methodology/approach
This study employs a mixed-method research-design consisting of quasi-experimental design (quantitative approach) involving women, both entrepreneurs (132) and non-entrepreneurs (238), as well as in-depth semi-structured interviews (qualitative approach).
Findings
Quantitative analysis revealed that female entrepreneurs are better off than female non-entrepreneurs in terms of economic, social, political and psychological indicators of empowerment. However, relatively lesser impact was found in terms of political, and to an even smaller extent, social empowerment of women. Analysis of in-depth interviews corroborated these findings confirming that entrepreneurship serves as an effective tool for the holistic empowerment of women. However, non-entrepreneurs also exhibit social empowerment.
Research limitations/implications
Given the restricted geographical ambit of the study, prudence ought to be exercised in drawing inferences applied to alternate contexts. That the vast majority of questionnaire respondents are illiterate presented a notable impediment in the process of collection of accurate responses.
Practical implications
Microfinance intervention ought to be specifically directed to cultivating entrepreneurship among women; in particular, to achieve the full benefits of empowerment, women availing microfinance ought to exert full control over their own business ventures.
Originality/value
In analyzing holistic empowerment through microfinance supported businesses set up by women, the study adds to the existing literature on women entrepreneurship and empowerment.
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Puteri Nur Farah Naadia Mohd Fauzi and Mohamad Akram Laldin
This study aims to assess the availability of micro-takāful (micro-Islamic insurance) schemes for the protection of houses belonging to low-income groups in Malaysia.
Abstract
Purpose
This study aims to assess the availability of micro-takāful (micro-Islamic insurance) schemes for the protection of houses belonging to low-income groups in Malaysia.
Design/methodology/approach
The study is conducted via desk research and interview discussions with representatives from takāful operators and key stakeholders.
Findings
Findings of the study confirm the importance of micro-takāful as a scheme for the protection of low-income groups. Micro-takāful schemes in Malaysia are, however, skewed towards the protection of health, life and family. The study finds little industry interest in the provision of micro-takāful schemes for the protection of houses for low-income groups. This represents another important area that takāful operators should take into consideration in their planning.
Research limitations/implications
The paper will help the Majlis Agama Islam Negeri-Negeri (MAINs), the regulator, takāful operators and government agencies such as Jabatan Wakaf, Zakat dan Haji (JAWHAR) to generate awareness and promote the offering of micro-takāful schemes for the protection of houses belonging to low-income groups in Malaysia.
Practical implications
In light of the limited availability of micro-takāful schemes for the protection of houses for low-income groups, this study argues that takāful operators should offer and promote them.
Social implications
The study is significant for fulfilling the need of low-income groups in Malaysia to protect their houses in the event of catastrophes so that they will not suffer significant losses. Rather, micro-takāful will assist them in improving their standard of living.
Originality/value
This study promotes the idea that it is essential to facilitate the low-income groups with appropriate coverage made available to them; micro-takāful schemes in protecting their houses and home contents, should any defined calamities occur. The outcomes are necessary for further development of micro-takāful models, specifically for the protection of properties. The developed model shall be proposed for application in the Malaysian takāful and housing industry to facilitate low-income groups to obtain protection for their household and home contents.
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Murallitharan Munisamy, Tharini Thanapalan, Pattaraporn Piwong, Alessio Panza and Sathirakorn Pongpanich
Out-of-pocket (OOP) payments continue to be a major method of financing healthcare in many low- and middle-income countries including Malaysia. Although macro-level data show that…
Abstract
Purpose
Out-of-pocket (OOP) payments continue to be a major method of financing healthcare in many low- and middle-income countries including Malaysia. Although macro-level data show that this is a substantial percentage of national health expenditure, at the grassroots level, the amount spent on health by households remains unknown in Malaysia. The purpose of this paper is to assess the validity and reliability of an adapted-for-purpose questionnaire designed to capture urban household health expenditures (HHEs) among Malaysian households.
Design/methodology/approach
This two-part study assessed content validity of the questionnaire using three experts and the reliability of the questionnaire through a test-retest study among 50 OOP-paying patients followed up at one private primary care clinic in Kuala Lumpur. This study was approved by the Malaysian Research Ethics Committee (NMRR-16-172-29311-IIR).
Findings
The validity of the 83-item questionnaire was high, with an item content validity index of 1.00 and a scale content validity index average score of 1.0 agreed to among the evaluating experts. In the test-retest reliability study, the majority of the categorical questionnaire items had perfect agreement values (k=0.81-1.00). Continuous questionnaire items were also found to be highly reliable with no significant differences between the test-retest segments and high correlation coefficient values (intra-class correlation coefficient>0.7).
Originality/value
The HHE questionnaire had excellent content validity and very high test-retest reliability. The results of this study suggest that this questionnaire could be used in Malaysian studies to determine actual urban HHE which is a first step toward developing universal health coverage for all.
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André Nijhof, Gilbert Lenssen, Ludwig Roger and Henk Kievit
The purpose of this study is to find out the awareness, attitude and career preference of commerce students (undergraduate (UG) and post-graduate (PG)) for the insurance industry…
Abstract
Purpose
The purpose of this study is to find out the awareness, attitude and career preference of commerce students (undergraduate (UG) and post-graduate (PG)) for the insurance industry in India.
Design/methodology/approach
The data were collected from 800 commerce students (400 male students and 400 female students) through a structured questionnaire. The questionnaire had 18 items related to awareness, attitude and career preference for insurance. The reliability of the tool was assessed by Cronbach’s alpha. To establish the relationship between variables, cross-tabulation techniques that involved Chi-square tests were used. The conclusion was drawn based on probability values (p-value) taking the critical as 0.05 (Bivariate). The data was analyzed using SPSS.
Findings
The results revealed that commerce students-UG and PG were aware of the basics of insurance, irrespective of their gender and family income. The students have a positive attitude toward insurance, but lack awareness regarding career options in the insurance industry.
Research limitations/implications
This study included only UG and PG commerce students of Allahabad University and its constituent colleges, hence its findings cannot be generalized for the entire country.
Practical implications
This study can be beneficial to insurance companies in framing their policies as India has a huge young population. There is a need to make the students in higher education aware of the benefits of insurance to cover any unforeseen economic loss and also to make them aware of the career options in the insurance industry.
Originality/value
The present study bridges the gap between existing studies regarding awareness, attitude and career preference of students with gender and family income. To date, no study has been done to find the awareness and attitude of students toward the insurance industry, neither in terms of their becoming prospective customers nor in terms of career preference.
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This research aims to review literature on development finance and its challenge and to examine blended learning and insurance as a catalysts of development finance. In…
Abstract
Purpose
This research aims to review literature on development finance and its challenge and to examine blended learning and insurance as a catalysts of development finance. In particular, this paper provides new insights and practical examples of blended finance and insurance.
Design/methodology/approach
This research basically relies on literature review and case study to show the value of the emerging methods of blended learning in development finance and insurance system.
Findings
Basic finding in this paper includes new insight of blended finance and insurance as a partnership between public and private sector, which offers new arena for academic research and practice.
Originality/value
As the research relies on literature review and authors' insight, originality may not be valued so much, but if may be introducing or creating new ideas or thinking about development finance or international development cooperation where relevant data or experience is still lacking.
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