A review on literature of Islamic microfinance from 2010-2020: lesson for practitioners and future directions

Pupun Saepul Rohman; Bayu Arie Fianto; Syed Alamdar Ali Shah; Umar Nawaz Kayani; Noven Suprayogi; Indri Supriani

doi:10.1016/j.heliyon.2021.e08549

A review on literature of Islamic microfinance from 2010-2020: lesson for practitioners and future directions

Heliyon. 2021 Dec 4;7(12):e08549. doi: 10.1016/j.heliyon.2021.e08549. eCollection 2021 Dec.

Authors

Pupun Saepul Rohman^{1

2}, Bayu Arie Fianto², Syed Alamdar Ali Shah², Umar Nawaz Kayani³, Noven Suprayogi², Indri Supriani²

Affiliations

¹ Department of Sharia Accounting, Mayasari Business Polytechnic, Mayasari Plaza Complex No. 1-4, Argasari, Cihideung District, Tasikmalaya, 46122, Indonesia.
² Department of Islamic Economics, Faculty of Economics and Business, Universitas Airlangga, Jl. Airlangga No. 4, Surabaya, 60286, Indonesia.
³ College of Business Administration, Al Falah University, Dubai, United Arab Emirates.

Abstract

This study reviews the literature related to Islamic microfinance institutions (IMFI) published in reputable international journals. The manuscripts that have been collected consist of 71 papers that are classified into several study topics. The most researched topic is Poverty alleviation with as many as 25 papers (35%). Next are the papers with the topic of Waqf-based microfinance as many as 12 papers (17%). This follows with 11 papers on the topic of Marketing & Fintech (15%), and 10 papers on the topic of Sustainability & Outreach (14%). Meanwhile, the paper with the theme Maqashid Shariah ranks fifth with a total of 7 papers (10%). Finally, there are 6 papers with the theme of Risk management & Governance (8%). At the end of each topic, the essence of research is presented for future research, which will be useful for academics and practitioners.

Keywords: Future directions; Islamic microfinance; Literature review; Poverty.