Microfinance through pawnshops: commercial sustainability and impact evaluation
This article examines the pawnshop as a vehicle of microfinance. In East Asia, the mainstream financial sector has grown quickly over the past few decades in tandem with rapid economic growth. In this environment pawnshops continue to play a significant role, especially in serving the lower-income segment of the population, whose access to mainstream financial institutions is very limited. Despite the absence of governmental assistance and donor support and the existence, in some countries, of restrictive regulations, the pawnshop has survived for decades and has in fact expanded consistently. This article considers the ways in which the pawnshop, as a microfinance institution, manages to overcome the problems of commercialization that similar institutions face around the world. In addition, using pawnshop data from Singapore, which is the only country in Asia where aggregated statistics on pawnshops are available, and examining qualitative data from interviews with pawnshop owners, an impact assessment of this institution is conducted.Campion, A. (2002) ‘Challenges to microfinance commercialization’, Journal of Microfinance 4(2); 57-65.
Dolye, K. and Black, J. (2001) ‘Performance measures for microfinance enterprises in the United States’, Journal of Microfinance 3(1): 19-43.
Glackin, C. E. (2002) ‘What does it take to borrow? A framework for analysis’, Journal of Microfinance 4(1): 115-135.
Schreiner, M. (2001) ‘Seven aspects of loan size’, Journal of Microfinance 3(2): 27-47.
Waldron, D. G. (1995) ‘Informal finance and the East Asian economic miracle’, Multinational Business Review 3(2): 46-55.
Woller, G. (2002) ‘From market failure to marketing failure: Market orientation as the key to deep outreach in microfinance’, Journal of International Development 14(3): 305-324.
Campion, A. (2002) ‘Challenges to microfinance commercialization’, Journal of Microfinance 4(2); 57-65.
Dolye, K. and Black, J. (2001) ‘Performance measures for microfinance enterprises in the United States’, Journal of Microfinance 3(1): 19-43.
Glackin, C. E. (2002) ‘What does it take to borrow? A framework for analysis’, Journal of Microfinance 4(1): 115-135.
Schreiner, M. (2001) ‘Seven aspects of loan size’, Journal of Microfinance 3(2): 27-47.
Waldron, D. G. (1995) ‘Informal finance and the East Asian economic miracle’, Multinational Business Review 3(2): 46-55.
Woller, G. (2002) ‘From market failure to marketing failure: Market orientation as the key to deep outreach in microfinance’, Journal of International Development 14(3): 305-324.
Campion, A. (2002) ‘Challenges to microfinance commercialization’, Journal of Microfinance 4(2); 57-65.
Dolye, K. and Black, J. (2001) ‘Performance measures for microfinance enterprises in the United States’, Journal of Microfinance 3(1): 19-43.
Glackin, C. E. (2002) ‘What does it take to borrow? A framework for analysis’, Journal of Microfinance 4(1): 115-135.
Schreiner, M. (2001) ‘Seven aspects of loan size’, Journal of Microfinance 3(2): 27-47.
Waldron, D. G. (1995) ‘Informal finance and the East Asian economic miracle’, Multinational Business Review 3(2): 46-55.
Woller, G. (2002) ‘From market failure to marketing failure: Market orientation as the key to deep outreach in microfinance’, Journal of International Development 14(3): 305-324.
Campion, A. (2002) ‘Challenges to microfinance commercialization’, Journal of Microfinance 4(2); 57-65.
Dolye, K. and Black, J. (2001) ‘Performance measures for microfinance enterprises in the United States’, Journal of Microfinance 3(1): 19-43.
Glackin, C. E. (2002) ‘What does it take to borrow? A framework for analysis’, Journal of Microfinance 4(1): 115-135.
Schreiner, M. (2001) ‘Seven aspects of loan size’, Journal of Microfinance 3(2): 27-47.
Waldron, D. G. (1995) ‘Informal finance and the East Asian economic miracle’, Multinational Business Review 3(2): 46-55.
Woller, G. (2002) ‘From market failure to marketing failure: Market orientation as the key to deep outreach in microfinance’, Journal of International Development 14(3): 305-324.
Analysing ar-rahnu in the context of informal credit market theory
Nik Azman, Nik Hadiyan
Kassim, Salina
Adeyemi, Adewalee Abideen
ISRA International Journal of Islamic Finance, Vol. 10 (2018), Iss. 2 P.237
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