Title: Muslims and non-Muslims attitude towards the potential of Islamic micro credit: an empirical study

Authors: Irfan Ahmed Sheikh; Raminder Kaur Sira

Addresses: Department of Management Studies, Punjabi University, Patiala (Punjab), India ' Department of Management Studies, Punjabi University, Patiala (Punjab), India

Abstract: This paper investigates the determinants of attitude from religious point of view among identified poor towards Islamic micro credit financing in India. As interest-based micro credit has emerged as a small solution towards poverty and has been identified as poverty alleviating tool particularly for ignored segment of society regardless the faith he/she believes. However, criticised on grounds of high interest rates in general, interest allergic by practicing Muslims and by general exclusion of hard core poor. Therefore people restricted themselves in entering credit market either due to non-availability of Islamic products or unbearable interest rates. Hence, financial exclusion still stands. The current investigation restricts towards interest-free micro finance or Islamic micro credit from attitude point of view from potential Indian customers including both Muslims as well as non-Muslim. The result reveals religion plays key role while opting services once implemented.

Keywords: Islamic finance; Muslim; non-Muslim; attitude; interest; micro credit; poor.

DOI: 10.1504/IJCA.2020.112866

International Journal of Critical Accounting, 2020 Vol.11 No.6, pp.487 - 502

Received: 22 Mar 2020
Accepted: 08 Jul 2020
Published online: 07 Feb 2021 *

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