Practice of Islamic Microfinance by Different Non-Government Organization’s in Bangladesh: An Empirical Evidence

Abstract

Bangladesh is a populated country where most of the people are Muslims. Bangladesh is the birthplace and hub of microfinance. She is considered as a star performer in interest based conventional microfinance programs. Although most of the people are Muslims, she is lagging behind exploring full potentials of Islamic microfinance. Most of the Ngo’s do not practice Islamic microfinance here. The present paper shows how many NGO’s practice Islamic microfinance in Bangladesh. This paper suggests the NGO’s about the potentials of Islamic microfinance in Bangladesh. Looking at the role of Islamic NGOs in Bangladesh, the book investigates new forms of neoliberal govern mentality supported by international donors. It discusses how this form of social regulation produces and reproduces subjectivities, particularly Muslim women subjectivity, and has combined religious and economic rationality, further complicating the boundaries and the relationship between Islam, modernity, and development. The book argues that both secular and Islamic NGOs target women in the name of empowerment but more importantly as the most reliable partners to meet their debt obligations of micro-financing schemes, including shari’a-based financing. The targeted women, in turn, experience Islamic NGOs as less coercive and more sensitive to their religious environment in the rural village community than are secular NGOs.