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EMPOWERING STRATEGIES OF SMES IN WEST AFRICA BY THE ISLAMIC DEVELOPMENT BANK FOR SUSTAINABLE DEVELOPMENT AND POVERTY REDUCTION Sackor, Muhammed
Journal of Economic and Economic Policy Vol. 2 No. 1 (2025): Journal of Economics and Economic Policy
Publisher : PT ANTIS INTERNATIONAL PUBLISHER

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijecep.v2i1.54

Abstract

Objective: This study examines the challenges and competitiveness of small and medium-sized enterprises (SMEs) in West Africa, focusing on the funding support provided by the Islamic Development Bank (IsDB) to address critical socio-economic issues such as poverty and unemployment in the region. Method: The research utilizes empirical evidence from previous studies conducted by the World Bank and other multilateral institutions, analyzing key obstacles to the successful implementation and sustainability of SMEs in West African countries. Results: The findings reveal significant challenges that hinder the growth and sustainability of SMEs in the region, including limited access to financing, inadequate infrastructure, and regulatory barriers. However, the support provided by IsDB plays a crucial role in overcoming some of these challenges, promoting the success of SMEs in the region. Novelty: This study contributes new insights into the role of the IsDB in supporting SME growth in West Africa, offering practical recommendations to enhance the success and prosperity of SMEs in the region. The paper emphasizes the importance of addressing structural barriers to ensure the long-term sustainability of SMEs in the context of West Africa's socio-economic challenges.
STUDENT LOANS IN THE SCALE OF SHARI’AH Sackor, Muhammed
International Journal Multidisciplinary (IJMI) Vol. 2 No. 2 (2025): International Journal Multidisciplinary
Publisher : Antis-Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijmi.v2i2.321

Abstract

Objective: This study investigates the socio-economic challenges faced by Muslim families in the U.S. due to the interest-based student loan system, which conflicts with Islamic principles that explicitly prohibit riba (interest). Method: A comprehensive analysis of the student loan crisis in the U.S. is conducted, incorporating recent data and examining contemporary Islamic scholarly views on the permissibility of student loans. Results: The findings reveal that the existing student loan system imposes significant financial burdens on Muslim families and graduates, highlighting the growing dilemma of balancing religious principles with educational and economic needs. The paper also identifies alternative financial models that align with Islamic teachings. Novelty: This research contributes to the ongoing discourse on Islamic finance by providing a critical examination of the student loan system in the U.S. through the lens of Islamic law, offering practical recommendations for Muslim communities to address this issue in the future.
EMPOWERING STRATEGIES OF SMES IN WEST AFRICA BY THE ISLAMIC DEVELOPMENT BANK FOR SUSTAINABLE DEVELOPMENT AND POVERTY REDUCTION Sackor, Muhammed
Journal of Economic and Economic Policy Vol. 2 No. 1 (2025): Journal of Economics and Economic Policy
Publisher : PT. Antis International Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijecep.v2i1.54

Abstract

Objective: This study examines the challenges and competitiveness of small and medium-sized enterprises (SMEs) in West Africa, focusing on the funding support provided by the Islamic Development Bank (IsDB) to address critical socio-economic issues such as poverty and unemployment in the region. Method: The research utilizes empirical evidence from previous studies conducted by the World Bank and other multilateral institutions, analyzing key obstacles to the successful implementation and sustainability of SMEs in West African countries. Results: The findings reveal significant challenges that hinder the growth and sustainability of SMEs in the region, including limited access to financing, inadequate infrastructure, and regulatory barriers. However, the support provided by IsDB plays a crucial role in overcoming some of these challenges, promoting the success of SMEs in the region. Novelty: This study contributes new insights into the role of the IsDB in supporting SME growth in West Africa, offering practical recommendations to enhance the success and prosperity of SMEs in the region. The paper emphasizes the importance of addressing structural barriers to ensure the long-term sustainability of SMEs in the context of West Africa's socio-economic challenges.
INTRODUCING ISLAMIC ACCOUNTING STANDARDS AT ISLAMIC BANKS IN GUINEA Sackor, Muhammed
International Journal of Accounting Innovation Vol. 1 No. 1 (2025): February
Publisher : PT ANTIS INTERNATIONAL PUBLISHER

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijai.v1i1.8

Abstract

Objective: This study investigates the feasibility and necessity of implementing Islamic accounting standards within the Islamic financial services sector in Guinea, aiming to enhance trust, transparency, and compliance with Shariah principles. Method: A qualitative approach was employed, involving document analysis and expert interviews with Islamic finance practitioners in Guinea to assess the current accounting practices and identify gaps in Shariah-compliant standards. Results: The findings reveal that Islamic banks in Guinea face significant limitations due to the absence of standardized Islamic accounting frameworks, which hinders credibility and operational alignment with Islamic financial principles. Nevertheless, the study identifies considerable opportunities for adopting frameworks such as those proposed by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), provided there is institutional support and capacity-building initiatives. Novelty: This paper contributes to the limited literature on Islamic accounting implementation in West Africa by offering a contextual analysis of Guinea’s Islamic banking sector and proposing a practical roadmap for integrating Shariah-compliant financial reporting standards.