Challenges and Difficulties facing Islamic Financial Inclusion in Women's Economic Empowerment in Yemen: Qualitative Approach
PDF

Keywords

Islamic Financial Inclusion, Women, Economic Empowerment, challenges and difficulties, Yemen.

How to Cite

Abdo Alaghbari, L. M. ., Abdullah Othman, A. H. and Mohd. Noor, A. B. (2021) “Challenges and Difficulties facing Islamic Financial Inclusion in Women’s Economic Empowerment in Yemen: Qualitative Approach”, International Journal of Business Ethics and Governance, 4(3), pp. 91-114. doi: 10.51325/ijbeg.v4i3.80.

Abstract

The study aimed to explore the challenges and difficulties faced by Islamic financial inclusion through Islamic financial institutions (banks, microfinance, insurance) in women's economic empowerment in Yemen. This will lead to enhance women's place in economic development when finding appropriate solutions to these challenges. This study applied the qualitative approach by conducting in-depth interviews with the experts comprising eighteen respondents in Islamic financial institutions. The result of respondents showed that there are a number of challenges and difficulties associated with the environment that have implications for overall institutional action and directly or indirectly contribute to women's economic empowerment. Where customs and traditions constitute the biggest external challenge facing Islamic financial institutions, as well as women's financial illiteracy, and the unstable political conditions that Yemen is going through. In addition to internal topics associated with the policies of those institutions themselves, they are ultimately subject to the impact of external problems and challenges. Furthermore, the results of the study will help decision-makers to activate the role of compulsory in society and implement effective plans and strategies to empower women economically. 

https://doi.org/10.51325/ijbeg.v4i3.80
PDF

References

Ahmed, H. (2002). Financing microenterprises: An analytical study of Islamic microfinance institutions. Islamic economic studies, 9(2). 27–64.

Ali, A. E., (2019). Empowering women through financial inclusion: Some evidence from Comoros. International Journal of Asian Social Science, 9(2), 256-270. https://doi.org/10.18488/journal.1.2019.92.256.270

Alshebami, A. S., & Khandare, D. M. (2014). Microfinance in Yemen “Challenges and Opportunities. International Journal in Management and Social Science, 2(12), 400-413. https://doi.org/10.5296/ijsw.v2i2.7937

Alshebami, A. S., & Khandare, D. M. (2015). The role of microfinance for the empowerment of poor women in Yemen. International Journal of Social Work, 2(1), 36-44. https://doi.org/10.5296/ijsw.v2i1.7752

Alshebami, A. S., & Rengarajan, V. (2017). Microfinance Institutions in Yemen “Hurdles and Remedies”. International Journal of Social Work, 4(1), 10. https://doi.org/10.5296/ijsw.v4i1.10695

Braun, V. & Clarke, V. (2012) Thematic Analysis. In H. Cooper, P. M. Camic, D. L. Long, A. T. Panter, D. Rindskopf, & K. J. Sher (Eds), APA handbook of research methods in psychology, Vol. 2: Research designs: Quantitative, qualitative, neuropsychological, and biological (pp. 57-71). Washington, DC: American Psychological Association. https://doi.org/10.1191/1478088706qp063oa

Braun, V., & Clarke, V. (2006). Using thematic analysis in psychology. Qualitative research in psychology, 3(2), 77-101.

CGAP,(2017). Humanitarian Crises: Financial Services Can Improve Resilience. https://bit.ly/2Uasn48

Demirguc-Kunt, A., Klapper, L., & Randall, D. (2013). Islamic finance and financial inclusion: measuring use of and demand for formal financial services among Muslim adults. Policy Research Working Paper 6642. https://doi.org/10.1596/1813-9450-6642

Demirguc-Kunt, A., Klapper, L., Singer, D., Ansar, S., & Hess, J. (2018). The Global Findex Database 2017: Measuring financial inclusion and the fintech revolution. The World Bank.. Washington, DC: World Bank. https://doi.org/10.1596/978-1-4648-1259-0

Fareed, F., Gabriel, M., Lenain, P., & Reynaud, J. (2017). Financial inclusion and women entrepreneurship: Evidence from Mexico. https://doi.org/10.1787/2fbd0f35-en

Guest, G., Bunce, A., & Johnson, L. (2006). How many interviews are enough? An experiment with data saturation and variability. Field methods, 18(1), 59-82. https://doi.org/10.1177/1525822X05279903

Hassan, A. (2015). Financial inclusion of the poor: from microcredit to Islamic micro financial services. Humanomics. 31(3), 354–71. https://doi.org/10.1108/H-07-2014-0051

Hassan, A., & Saleem, S. (2017). An Islamic microfinance business model in Bangladesh: Its Role in Alleviation of Poverty and Socio-Economic Well-Being of Women’. Humanomics, 33(1), 15–37. https://doi.org/10.1108/H-08-2016-0066

Hassan, M. K., Rabbani, M. R., & Abdulla, Y. (2021). Socioeconomic Impact of COVID-19 in MENA region and the Role of Islamic Finance. International Journal of Islamic Economics and Finance (IJIEF), 4(1), 51-78. https://doi.org/10.18196/ijief.v4i1.10466

Holloway, K., Niazi, Z., & Rouse, R. (2017). Women’s economic empowerment through financial inclusion: A review of existing evidence and remaining knowledge gaps. New Haven, CT: Innovations for Poverty Action.

I-FIKR,(2018). Islamic finance body IFSB to develop financial inclusion guidance. https://bit.ly/3dm5JwK

Isaac, J.(2014). ‘’Expanding Women’s Access to Financial Services” February 26, 2014. The world bank. https://bit.ly/3hf8r9H

Islam, M. S. (2014). Microcredit, financial inclusion, and women empowerment Nexus in Bangladesh. Stud, 3(2). 6–15.

Jouti, A. T. (2018). Islamic finance: financial inclusion or migration. ISRA International Journal of Islamic Finance, 277–88. https://doi.org/10.1108/IJIF-07-2018-0074

Kabeer, N. (2012). Women’s economic empowerment and inclusive growth: labour markets and enterprise development. International Development Research Centre, 44(10), 1-70.

Malterud, K., Siersma, V. D., & Guassora, A. D. (2015). Sample size in qualitative interview studies: guided by information power. Qualitative health research, 26(13), 1753-1760. https://doi.org/10.1177/1049732315617444

Mero-Jaffe, I. (2011). Is that what I said? ‘Interview transcript approval by participants: an aspect of ethics in qualitative research. International journal of qualitative methods, 10(3), 231-247. https://doi.org/10.1177/160940691101000304

Miles, M. B., & Huberman, A. M. (1994). Qualitative data analysis: An expanded sourcebook. Edition 3. Sage.

Muhammad, S., Bhatti, M. N., & Awan, M. W. (2019). Money, Politics and Gender Equality: An Analysis of Assets of Women Legislators in Pakistan (2002-13). Global Regional Review, 4(1), 292-302. https://doi.org/10.31703/grr.2019(IV-I).31

Nascimento, L. D. S., & Steinbruch, F. K. (2019). The interviews were transcribed, but how Reflections on management research. RAUSP Management Journal, 54(4), 413-429. https://doi.org/10.1108/RAUSP-05-2019-0092

Onwuegbuzie, A. J., & Collins, K. M. (2007). A typology of mixed methods sampling designs in social science research. Qualitative Report, 12(2), 281-316.

Qu, S. Q., & Dumay, J. (2011). The qualitative research interview. Qualitative research in accounting & management. 8(3), 238-264. https://doi.org/10.1108/11766091111162070

Sayed, M. N., & Shusha, A. (2019). Determinants of Financial Inclusion in Egypt. Asian Economic and Financial Review, 9(12), 1383-1404. https://doi.org/10.18488/journal.aefr.2019.912.1383.1404

Subramanian, R. (2014). Financial Inclusion-Micro Finance a Sustainable Model. International Journal of Research, 1(6), 566-574.

The Global Findex Database, (2017). Measuring Financial Inclusion and the Fintech Revolution. Washington, DC: World Bank. doi:10.1596/978-1-4648-1259-0. License: Creative Commons Attribution CC BY 3.0 IGO.

Ulfi, I. (2018). Empowering Women through Islamic Microfinance: Experience of BMT Beringharjo. Jurnal Ekonomi dan Bisnis Islam, 3(1), 89-101. https://doi.org/10.15548/jebi.v3i1.147

UNHLP, (2016). Leave no one behind: a call to action for gender equality and women’s economic empowerment. Report of the UN- secretary-general’s high-level panel on women’s economic empowerment. https://www.unscn.org/uploads/web/news/UNSG-HLP-WEE-2nd-Report-.pdf.

United Nations, (2014). Impact of Access to Financial Services, Including by Highlighting Remittances on Development: Economic Empowerment of Women and Youth’. In United Nations Conference on Trade and Development, United Nations, Geneva.

United Nations. (1995), Beijing declaration, Beijing.

United Nations. (2018), Strategies for advancing women’s economic empowerment in the context of the Sustainable Development Goals. Economic and Social Commission for Asia and the Pacific. Committee on Social Development. Bangkok. ESCAP/CSD/2018/1.

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Copyright (c) 2021 Array

Downloads

Download data is not yet available.