Islamic finance: financial inclusion or migration?

 78
ISBN/ISSN: 0128-1976 (Printed) | E-ISSN 2289-4365
Author: Ahmed Tahiri Jouti
Pages: 12
Year: 2018


This publication is part of the journal (2018-2)


Purpose - This paper aims to define a methodology to assess the impact of introducing Islamic finance on financial inclusion.
Design/methodology/approach - The paper is based on a literature review to understand the link between Islamic finance and financial inclusion. The second part of the paper presents a conceptual framework to assess the impact of introducing Islamic finance on financial inclusion in a defined context based on the profiling of people interested in Islamic finance.
Findings - The paper brings an insight on the impact of introducing Islamic finance. Indeed, it could cause a financial migration to Islamic banks that can take many forms and depends on many factors that call for deep analysis.
Research limitations/implications - The paper would help financial authorities and financial institutions to measure the impact of introducing Islamic finance on their businesses and the stability of the whole system.
Practical implications - Islamic finance can not only enhance financial inclusion but also create financial migration. The two implications can vary from one context to another.
Social implications - Islamic finance can contribute in the effort of including “self-excluded” people with religious concerns as well as people without access to financial services.
Originality/value - This paper promotes the idea that Islamic finance is not exclusively a way to enhance financial inclusion.

Keywords: Islamic finance, Financial inclusion, Financial migration, Unbanked people, Self-exclusion, Lack of access


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