Research Article Open Access

The Approaches of Islamic and Conventional Microfinancing for Poverty Alleviation and Sustainable Livelihood

Abul Bashar Bhuiyan1, Chamhuri Siwar1, Aminul Islam1 and Mamunur Rashid1
  • 1 University Kebangsaan Malaysia, Malaysia
American Journal of Applied Sciences
Volume 9 No. 9, 2012, 1385-1389

DOI: https://doi.org/10.3844/ajassp.2012.1385.1389

Submitted On: 10 November 2011 Published On: 17 July 2012

How to Cite: Bhuiyan, A. B., Siwar, C., Islam, A. & Rashid, M. (2012). The Approaches of Islamic and Conventional Microfinancing for Poverty Alleviation and Sustainable Livelihood. American Journal of Applied Sciences, 9(9), 1385-1389. https://doi.org/10.3844/ajassp.2012.1385.1389

Abstract

Poverty is the main illness for sustainable livelihood because it destroyed human basic rights for surviving with minimum opportunities especially political, social stability and economic processes, literature and environment. The aims of this study are to discuss about existing approaches of poverty alleviation and sustainable livelihood. The study found throughout the discussion of the theoretical sources i.e., participatory approaches have determined as a good way of poverty alleviation and sustainable livelihood especially zakat based Islamic mode of financing and Qard-al-Hasan on the basis of spiritual values as an alternative model for poverty alleviation and ensuring sustainable livelihood.

  • 1,209 Views
  • 2,387 Downloads
  • 3 Citations

Download

Keywords

  • Microcredit and microfinance
  • poverty
  • sustainable livelihood and Qard-Al-Hasan