LA FINANCE INCLUSIVE ET LA MICROFINANCE ISLAMIQUE : QUELLES CONVERGENCES ?

Abstract

The exclusion of the poor from the conventional banking system was the starting point for the creation and development of microfinance institutions (MFIs).The latter aimed at suggesting local financial and non-financial services to people in the informal sector and to people excluded from the banking sector, because of their low income and lack of payment guarantees. However, conventional microfinance faces several challenges that seem to displace it from microfinance goals. It is in this point of view that Islamic microfinance presents itself as a union of two non-traditional forms of finance to create real economic and social development in society. It is in this context that this article is written, which aims to examine deeply the effectiveness of the application of the principles of Islamic finance in the field of microfinance to give birth to new financial products as wellas developing a description of the microfinance model and analyzing the development prospects of this industry and the obstacles that prevent its evolution.