Islamic Financial Inclusion for Agriculture Development: The Case of South Al-Dweim Agricultural Microfinance Projects in the White Nile State, Sudan (2016–2018)

Elkhidir Elamin Mohammed Abdelrasoul ()

Chapter Chapter 7 in Enhancing Financial Inclusion through Islamic Finance, Volume II, 2020, pp 177-199 from Palgrave Macmillan

Abstract: Abstract Without integration and adaptation of financial inclusion services agricultural projects will not prosper. This chapter evaluates the role of adaptation and integration of Islamic financial inclusion services in improving and developing the agricultural projects, a topic barely studied in the literature. Hypothesis was tested using ten observations based on quantitative and qualitative information of farmers of White Nile State. The findings indicate that Alfal Microfinance through Mudaraba, Murabaha, Mugawala, mobile networks, and relationship-driven information does enhance financial inclusion that decreases default rates. The chapter recommends Islamic microfinance institutions to diversify and adopt Islamic financial innovations in the agricultural sector. Microfinance institutions do well if areas of concern where weaknesses arise that limit the attainment of reduced default rates for institutions and farmers are identified. Alfal Microfinance Institution also needs to ensure that their employees and customers attain the necessary skills required to enhance its performance.

Keywords: Islamic financial inclusion; Islamic microfinance institution; Agricultural development; Sudan; Alfal Microfinance (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psibcp:978-3-030-39939-9_7

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DOI: 10.1007/978-3-030-39939-9_7

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