Realising financial inclusion in Islamic finance

Abstract

Purpose

The purpose of this paper is to evolve a theoretical account that highlights the determinations for achieving financial inclusion in Islamic finance.

Design/methodology/approach

The methodology used is a library approach where the existing and relevant document remains the sources of concern.

Findings

The outcome of the study designates that robust technology; microcredit and microfinance services; legal and regulatory commitment of the regulators and policymakers of the Islamic financial institutions; extensive public awareness of Islamic financial services and products; financial proficiency and literacy; and financial infrastructure are some of the imperative drives for realising financial inclusion particularly for women, low income earners and rural poor.

Research limitations/implications

The paper limited itself to realising financial inclusion in Islamic finance. Thus, anything beyond the stated limitation is outside the scope of our objective. The paper has an inference for the concerned professional bodies, regulators, policymakers, stakeholders and practitioners of Islamic financial institutions.

Originality/value

The paper is original in its nature, it is also a pearl and a reference to those who may conceive and cherish the relevance of its capacity.

Citation

Shinkafi, A.A., Yahaya, S. and Sani, T.A. (2020), "Realising financial inclusion in Islamic finance", Journal of Islamic Marketing, Vol. 11 No. 1, pp. 143-160. https://doi.org/10.1108/JIMA-02-2017-0020