Islamic Microfinance: An Emerging Market Niche
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چکیده
Muslim-majority countries do not use formal financial services (Honohon 2007).1 Even when financial services are available, some people view conventional products as incompatible with the financial principles set forth in Islamic law. In recent years, some microfinance institutions (MFIs) have stepped in to service low-income Muslim clients who demand products consistent with Islamic financial principles—leading to the emergence of Islamic microfinance as a new market niche.
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