Enhancing Poverty Alleviation Strategies with Sharia-compliant Microfinance: A Farmer Group Case Study
Abstract
This article evaluates sharia microfinance's contribution in poverty alleviation, focusing on rural farmer organisations. The methodology includes literature study, case studies, and data on sharia microfinance programmes and associated subjects. The analysis compared production, income, and farmer welfare before and after sharia microfinance. The examination of sharia microfinance organisations is expected to improve farmer groups' economic and social situations and increase their functions. Various literatures highlight the role of microfinance organisations in agricultural productivity, farmers' income, and education and health services. This talk also shows how sharia microfinance can help rural small and medium-sized firms thrive, create jobs, and increase economic independence. Therefore, sharia microfinance in agriculture must be improved and expanded immediately. This includes educating and teaching on the principles and benefits of sharia microfinance and encouraging the government and international institutions to improve its infrastructure and capabilities. Access to sharia financial services has also expanded. Thus, Islamic microfinance can effectively fight poverty and improve rural communities' economies.
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DOI: https://doi.org/10.30596/miceb.v2i0.736
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