Financial Inclusion through Islamic Banking

Nazar, Mumna

doi:10.21013/jmss.v6.n2.p17

IRAJMSS

2017

DOI: 10.21013/jmss.v6.n2.p17

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Financial Inclusion through Islamic Banking

Mumna Nazar¹

Abstract: Financial inclusion is a buzz word today. It plays an important role in driving away

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2024

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Reducing Financial Exclusion and Enhancing Contribution of Non-Interest (Islamic) Banks in Nigeria

Abdullahi,

Sharofiddin,

Kasim

2024

IJEMA

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Financial exclusion denies people access to useful and affordable financial products and services including transactions, payment, savings, credit and insurance. Thus, Nigeria launched its National Financial Inclusion Strategy in October 2012 to reduce financial exclusion to 20.0% by end 2020 from 46.3% in 2010; and the licensed Islamic banks are stakeholders in this declaration. Thus, the study adopts an exploratory approach to discuss the contribution of Non-Interest (Islamic) Banks in achieving the set target from the supply-side. The study found that Islamic banks in Nigeria have contributed to reducing the exclusion rate from the supply-side to 35.9% in 2020 by financing customer centric Shari’ah compliant products; growth in branch network and other touch points; agent banking operations; and participation in the Central Bank of Nigeria non-interest intervention schemes. The study recommends the spread of their financial touch points to the unbanked rural populace in other states; while it encourages the government, the Central Bank of Nigeria, and all other stakeholders to sustain efforts in reducing financial exclusion.

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Reducing Financial Exclusion and Enhancing Contribution of Non-Interest (Islamic) Banks in Nigeria

Abdullahi,

Sharofiddin,

Kasim

2024

IJEMA

View full text Add to dashboard Cite

show abstract

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Financial Inclusion through Islamic Banking

Abstract: Financial inclusion is a buzz word today. It plays an important role in driving away

Cited by 1 publication

References 0 publications

Reducing Financial Exclusion and Enhancing Contribution of Non-Interest (Islamic) Banks in Nigeria

Reducing Financial Exclusion and Enhancing Contribution of Non-Interest (Islamic) Banks in Nigeria

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