Empowering Womenpreneurs Through Islamic Social Finance: Examining The Impacts On Power And Agency In Brunei Darussalam

Abstract

This study delves into the impact of Islamic social finance, specifically Zakat and Charity, on the economic empowerment of 18 women entrepreneurs (referred to as womenpreneurs) in Brunei Darussalam. By offering marginalised womenpreneurs alternative sources of capital, Islamic social finance helps overcome barriers to financial inclusion by providing capital assistance for launching or expanding their businesses. Using a qualitative case study approach, the research focuses on six key areas of women's power and agency: control over assets, decision-making, autonomy and mobility, self-confidence, gender norms, and gender roles. Data was gathered from womenpreneurs in all four districts of Brunei through semi-structured interviews to examine their experiences following assistance from Zakat and Charity. The interviews were examined using content analysis with NVIVO to uncover patterns and themes within the six dimensions of power and agency. The findings reveal that the womenpreneurs are able to generate their own income, have increased ownership of business assets, allocate a portion of their income for themselves and their children, and experience improved psychological well-being and self-confidence. This study adds to the expanding literature on Islamic social finance and women’s empowerment, highlighting the financial and psychological advantages for womenpreneurs and highlighting the role of Islamic social finance in promoting empowerment among women in Brunei Darussalam.