Financial Inclusion for Poverty Alleviation: The Role of Islamic Finance in Bangladesh

M. Mizanur Rahman ()
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M. Mizanur Rahman: Islami Bank Training and Research Academy, IBBL

Chapter Chapter 2 in Enhancing Financial Inclusion through Islamic Finance, Volume II, 2020, pp 17-50 from Palgrave Macmillan

Abstract: Abstract Despite the role of Financial Inclusion in the progress of efficiency and equality in society, 2.7 billion people (70% of the adult population) in emerging markets have no access to basic financial services—many from countries with a predominantly Muslim population. Bangladesh hosts the third largest Muslim population in the world whose current level of inclusion is 40%. Since the establishment of the Islamic bank in 1983, there are now 57 banks, 8 fully fledged Islamic banks and 15 offering Islamic banking services through branches/windows. The collective market share of Islamic banks in the country is around 25% which is making a remarkable contribution to the GDP and sustainable development of the country. If Bangladesh is to become a middle-income country by 2021, it needs to exploit fully this un-tapped market and enhance financial inclusion. This chapter reviews the Bangladesh financial sector placing special emphasis on the contribution to financial inclusion.

Keywords: Financial inclusion; Islamic bank; Islamic microfinance; Poverty alleviation; Bangladesh (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_2

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DOI: 10.1007/978-3-030-39939-9_2

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