• Economics
  • Published 2013

Towards Adopting Zero Interest Financing (ZIF) and Profit and Loss Sharing (PLS) Principle in Islamic Microfinance: The Case of Amanah Ikhtiar Malaysia

@inproceedings{Saad2013TowardsAZ,
  title={Towards Adopting Zero Interest Financing (ZIF) and Profit and Loss Sharing (PLS) Principle in Islamic Microfinance: The Case of Amanah Ikhtiar Malaysia},
  author={Norma Saad and Mustafa Omar Mohamed and Mohamed Aslam},
  year={2013}
}
Microfinance institutions evolved to alleviate poverty by providing micro-credit to the poor. Islamic microfinance evolved to provide alternative to the interest based conventional microfinance. However, the financing modes being used by the Islamic micro-finance institutions (IMFIs) are mostly debt based, which have resemblance to the interest based conventional modes. IMFs shun away from using the PLS scheme, which they consider risky. Theoretically, it is argued that PLS mobilizes factors of… CONTINUE READING

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References

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