Open AccessFinancial and Social Performances of Islamic Microfinance Service Provider With Mobile Banking
Author(s) -
Afifa Malina Amran,
Intan Salwani Mohamed,
Sharifah Norzehan Syed Yusuf,
Nabilah Rozzani
Publication year - 2019
Publication title -
international journal of financial research
Language(s) - English
Resource type - Journals
eISSN - 1923-4031
pISSN - 1923-4023
DOI - 10.5430/ijfr.v10n5p181
Subject(s) - microfinance , islam , business , accounting , context (archaeology) , loan , accountability , financial services , qualitative research , mobile banking , financial institution , service (business) , qualitative property , institution , finance , financial system , marketing , economics , economic growth , political science , sociology , social science , paleontology , philosophy , theology , law , biology , machine learning , computer science
In Malaysia, Islamic microfinance institutions (IMFIs) are part of Islamic financial institutions and have been established to provide Islamic microfinance products (interest free loans). Their aim is to promote trade activities among Islamic microfinance recipients in improving their standard of living. Information and data gathered can be used as evidence to prove that Islamic microfinance has traits that provide a support system for the poorest of the poor. This study hence intends to investigate the application of technology by Islamic microfinance institutions within a context of its accounting information system through the usage of mobile banking. This study is conducted using qualitative approaches via interviews to obtain in depth understanding of mobile banking usage at an Islamic microfinance institution. Financial data, as well as data on the total number of loan recipients (sahabats) is referred by the study in investigating another aspect of social performance in terms of vicegerency and accountability of the IMFI. Extensive application of vicegerency concept in explaining the findings is parallel to Shari'ah Foundation for Accountants in outlining characteristics of Muslim accountants in preventing them from doing prohibited actions.