Sumaira Siddiky, Randi Swandaru and Aishath Muneeza
Micro-enterprises, like any other business entity, face financing challenges. However, micro-enterprises often cannot access financial institutions as they cannot fulfill the…
Abstract
Purpose
Micro-enterprises, like any other business entity, face financing challenges. However, micro-enterprises often cannot access financial institutions as they cannot fulfill the conditions to obtain financing facilities from a formal financial institution. As such, they have to rely on family or friends for financing needs. The most critical challenge faced in this regard to Muslim micro-enterprises is finding out a way in which family and friends could give a financial helping hand without the involvement of riba (interest). At the same time, the person giving the financing can enjoy a profit. This paper aims to propose the Tawarruq Fardi Financing (TFF) model that Islamic micro-enterprises could use to fulfill their financial needs. It becomes a solution when obtaining financing from friends and family or any other third party who could be a private investor who does not want to engage in an equity relationship.
Design/methodology/approach
This study adopts a qualitative research methodology, combining descriptive and content analysis using the inductive reasoning approach.
Findings
The paper's outcome shows that the proposed TFF could assist Islamic micro-enterprises in obtaining Shariah-compliant financing without engaging in an equity partnership. It allows them to fulfill their financing needs bearing in mind the interest of both parties involved in the transaction.
Originality/value
This research will assist Islamic micro-enterprises to find out a Shariah-compliant financing facility from family, friends and any other private investors without entering into an equity relationship. The proposed model would be a Shariah-compliant alternative to interest-free loans and engaging in an equity relationship for the sake of getting benefits for both parties involved in the transaction.
Details
Keywords
Danladi Chiroma Husaini, Orish Ebere Orisakwe, David Ditaba Mphuthi, Sani Maaji Garba, Cecilia Nwadiuto Obasi and Innocent Ejiofor Nwachukwu
This review aims to provide synoptic documentation on acclaimed anecdotal plant-based remedies used by Latin America and the Caribbean (LAC) communities to manage COVID-19. The…
Abstract
Purpose
This review aims to provide synoptic documentation on acclaimed anecdotal plant-based remedies used by Latin America and the Caribbean (LAC) communities to manage COVID-19. The theoretical approaches that form the basis for using the anecdotally claimed phytotherapies were reviewed against current scientific evidence.
Design/methodology/approach
In this paper plant-based remedies for managing COVID-19 were searched on social and print media to identify testimonies of people from different communities in LAC countries. Information was extracted, evaluated and reviewed against current scientific evidence based on a literature search from databases such as Journal Storage (JSTOR), Excerpta Medica Database (EMBASE), SpringerLink, Scopus, ScienceDirect, PubMed, Google Scholar and Medline to explore the scientific basis for anecdotal claims.
Findings
A total of 23 medicinal plants belonging to 15 families were identified as phytotherapies used in managing COVID-19 in LAC communities.
Originality/value
The plant-based remedies contained valuable phytochemicals scientifically reported for their anti-inflammatory, antiviral, antioxidant and anticancer effects. Anecdotal information helps researchers investigate disease patterns, management and new drug discoveries. The identified acclaimed plant-based remedies are potential candidates for pharmacological evaluations for possible drug discovery for future pandemics.