Empowering women through Islamic microfinance-based on al-musraful Islamic institution in Sammanthurai

Abstract

Islamic Microfinance is an authoritative part in a growing and manifold body of microfinance literature. Islamic microfinance is a new area within Islamic finance. Through which Islamic banks and Institutions distribute financing to financially embargo individuals. Islamic microfinance fits into the asset-based economic prototype and equity aspiration of Islamic moral economy as well as consummates all other social presuppositions. On the other hand Islamic microfinance plays a vital role in empowering women. It provides the fund to upgrade the women's effective life. This study focused on the women participant efficiency on Islamic microfinance activities. The main Objective of this study is, to find out the how Islamic micro finance empower women in Sammanthurai The secondary objectives were Determine the women customers in Islamic micro finance, Classify their earlier and present economic position and Identify their living standard through Islamic microfinance. The study was conducted based on qualitative and primary data was collected through semi structured questionnaires. Which were distributed to selected women participants in Al-Musraful Islamiu Institution in Sammanthurai, Sri Lanka. The data was analysed using correlation, simple linear regression analysis and hypothesis testing by SPSS 20.0 software, and also using descriptive statistical tool such as means, standard deviation percentages and frequency distribution tables and graphs. The findings revealed that although the Islamic microfinance Institution of Al-Musraful Islamiu considers their women participants, there is a significant relationship between Islamic Microfinance and women empowerment This study also showed that the Islamic microfinance had a significant impact on women empowerment, which is considered as successful, they sustain the success by proper use of their participants and development.