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Debt-Based Versus Equity-Based Financing: A Comparative Analysis on Efficiency of Islamic Financial System Maikabara, Abdullateef Abdulqadir; Maulida, Sri; Aderemi, Abdulmajeed M
Ihtifaz: Journal of Islamic Economics, Finance, and Banking Vol 4, No 1 (2021)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/ijiefb.v4i1.3171

Abstract

Introduction to The Problem: The financial system, as a subset of economics, plays a prominent role in solidifying the socio-economic development and wellbeing of people of a society. However, debt-based and equity-based financing are the main models employed by Islamic financial institutions to help small and medium enterprises (SMEs) that need funding to facilitate their businesses' projects. Operationally, debt-based financing seems to be the prominent financing model than equity-based financing, which only accounts for either zero or small scale in Islamic financial institutions.Objective Study: This study explores the rightful financing model that can contribute much better to the efficiency of the Islamic financial system in achieving socio-economic development.Methodology: To achieve the study's purpose, a literature-based method and secondary data collection technique are adopted as related previous studies from articles, books, conferences, and working papers are reviewed and analyzed.Findings: Equity-based model as a partnership model is somewhat more productive in contributing to socio-economic development than debt-based financing, but not being widely applied due to specific issues such as high risk, agency problem, costumer’s awareness, and sensitivity, and others more. It is recommended that researchers empirically investigate the suitable financing model between debt-based and equity-based financing models to ensure the achievement of sustainable socio-economic development.
Prospects and Challenges of Crowdfunding as an Alternative Funding Option in Nigeria Aderemi, Abdulmajeed M.R.; Maulida, Sri; Maikabara, Abdullateef Abdulqadir
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 12, No 1 (2021): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v12i1.17-31

Abstract

This study aims to review the concept, prospects, and challenges of crowdfunding in Nigeria. Furthermore, it adopts a library-based concept in which secondary sources are relied on data collection using descriptive and deductive approaches of analysis. The results showed that Nigeria has the potential of becoming the hub center of crowdfunding in Africa. However, various challenges are facing the growth of this platform as a means of financing. These include the issues of regulation, lack of adequate awareness, as well as fraud and corruption. Furthermore, this study recommends the need for adequate awareness about crowdfunding and the regulation to ensure its functionality. It also offers additional literature as a means of financing, especially from the Nigerian context.
Investigating the Viability of the Charity Based Model of Islamic Microfinance for Eradicating the Impact of Covid-19 on Social Wellbeing in Nigeria: A Discriptive Analysis Maikabara, Abdullateef Abdulqadir; Aderemi, Abdulmajeed M.R.; Maulida, Sri
Journal of Islamic Economics Perspectives Vol. 2 No. 1 (2020): September (2020) Journal of Islamic Economics Perspectives
Publisher : Faculty of Islamic Economics and Business, State Islamic University of  Kiai Haji Achmad Siddiq Jember, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35719/jiep.v2i1.28

Abstract

The coronavirus known as (Covid-19) pandemic has posed a significant impact on social and economic sectors as many institutions and individuals face difficulties in meeting their needs. Over the years, Islamic microfinance has shown positively significant effects on socio-economic development. Recently, it is gaining strong momentum in the financial ground in Nigeria. The research aims to examine the perception of Islamic microfinance on social wellbeing as a relief measure to eradicate the impact of Covid-19. A total of 100 respondents were involved, and descriptive statistical analysis was used to measure the perception. The findings revealed that the charity-based model is viable for relieving the people' social wellbeing. The paper recommended proactive and constructive measures in implementing the model to generate fund for fighting against the outbreak and ensure social stability.
Demographics Differences in the Microfinance Clients' Perception Towards Islamic Microfinance: The Case Of Nigeria Maikabara, Abdullateef Abdulqadir; Aderemi, Abdulmajeed M.R; Maulida, Sri
Li Falah: Journal of Islamic Economics and Business Vol. 5 No. 2 (2020): December 2020
Publisher : Institut Agama Islam Negeri Kendari

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31332/lifalah.v5i2.2260

Abstract

This paper investigates the different perceptions of microfinance clients' demographic characteristics towards Islamic microfinance. The convenience sampling technique was adopted to select the study sample to collect data from the microfinance clients' beneficiaries in Kwara state. Four hundred data were obtained and analyzed on SPSS Version 25 using descriptive analysis, independent sample t-test, and one-way ANOVA. The findings indicate a statistically significant difference in the microfinance beneficiaries' perception of their demographic region, age, marital status, religion, and education level. 
Applicability of Islamic microfinance as an alternative tool for Poverty Eradication in Nigeria Maikabara, Abdullateef Abdulqadir
Li Falah: Journal of Islamic Economics and Business Vol. 8 No. 1 (2023): June 2023
Publisher : Institut Agama Islam Negeri Kendari

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31332/lifalah.v8i1.6496

Abstract

The microfinance system is one of the governmental and non-governmental initiatives to eradicate poverty, even though conventional microfinance does not satisfactorily serve the needs of underprivileged households in Nigeria. However, Islamic microfinance has great potential to facilitate its roles in providing financial services per Islamic values. This research examines Islamic microfinance's perception of poverty eradication in the Kwara State of Nigeria. The 364 responses from microfinance clients in Ilorin, Kwara State of Nigeria, were analyzed through SPSS using descriptive and Pearson coefficient moment correlation (PPMC). The findings indicated a positive statistically significant correlation between Islamic microfinance and household income (PEHI), healthcare (PEHC), education(PEED), and employment(PEEM). This study is significant as it presents the applicability of Islamic microfinance for eradicating poverty in the study area. Policymakers should widely institutionalize Islamic microfinance institutions nationwide and take necessary and exclusive measures to ensure their effectiveness for poverty eradication and achieving sustainable socioeconomic development.