MICROFINANCE AND SUSTAINABLE DEVELOPMENT IN POVERTY ALLEVIATION INSIGHTS JAIZ BANK CUSTOMERS IN SOKOTO STATE, NIGERIA

Abdullahi Isah; Mohd Rizal Muwazir

doi:10.64757/alqanatir.2026.3509/1555

Authors

Abdullahi Isah Department of Islamic Management and Finance, Academy of Islamic Studies, Universiti Malaya
Mohd Rizal Muwazir Department of Islamic Management and Finance, Academy of Islamic Studies, Universiti Malaya

DOI:

https://doi.org/10.64757/alqanatir.2026.3509/1555

Keywords:

Poverty, Alleviation, Microfinance, Sustainable, Development

Abstract

The purpose of this paper is to explore and examine Islamic microfinance on sustainable development and poverty alleviation in Nigeria, insight customers of Jaiz bank. The paper adopts a qualitative approach using the customers of Jaiz bank with semi-structured interviews and purposive sampling method for the substantial of Islamic microfinance and poverty alleviation in Nigeria. Islamic microfinance is analytically applied in capacity building and entrepreneurial development of the poor in the society. Apparently, this will go a long way in reducing the rate of unemployment which is in higher rate, by creating and empowering potential of the rural communities and low-income segment in the Society. The paper differs from previous studies on poverty alleviation and sustainable development in Nigerian sub-Saharan African countries for which research in Islamic microfinance and sustainable development is sparse. The paper is unique in analysing how Islamic microfinance emerged as a tool of poverty alleviation. The study concludes that adapting this procedure of financing will go a long way to solve the challenges of poverty facing by so many households, and enhancing the economic growth and Sustainable development in the society.

Keywords: Poverty alleviation, microfinance, Sustainable Development, Jaiz bank,

Paper type: Research paper

Downloads

Download data is not yet available.

Author Biographies

Abdullahi Isah, Department of Islamic Management and Finance, Academy of Islamic Studies, Universiti Malaya

Ph.D Candidate

Mohd Rizal Muwazir, Department of Islamic Management and Finance, Academy of Islamic Studies, Universiti Malaya

Associate Professor

References

Adah, B. A., & Abasilim, U. D. (2015). Development and its challenges in Nigeria: A theoretical discourse. Mediterranean Journal of Social Sciences, 6(6), 275-261.

Aderounmu, B., Azuh, D., Onanuga, O., Oluwatomisin, O., Ebenezer, B., & Azuh, A. (2021). Poverty drivers and Nigeria’s development: Implications for policy intervention. Cogent Arts & Humanities, 8(1), 1927495.

Afonso, A., & Rault, C. (2010). What do we really know about fiscal sustainability in the EU? A panel data diagnostic. Review of World Economics, 145(4), 731-755.

Alaro, A. A.-M., & Alalubosa, A. H. (2019). Potential of Sharī’ah compliant microfinance in alleviating poverty in Nigeria: A lesson from Bangladesh. International Journal of Islamic and Middle Eastern Finance and Management.

Amaechi, L. (2018). Food security and sustainable agricultural development in Nigeria. The International Journal of Social Sciences and Humanities Invention, 5(05), 4765-4768.

Amoo, E. O. (2018). Introduction to special edition on Covenant University’s perspectives on Nigeria demography and achievement of SDGs-2030. African Population Studies, 32(1).

Amoo, E. O., Adekola, P. O., & Oladosun, M. (2019). Science, technology and poverty eradication: any connection with demography? International Journal of Civil Engineering and Technology (IJCIET), 10(2), 231-243.

Aziz, T., & Alam, M. S. (2012). Interest free microfinance model: A path toward sustainable development. International Journal of Marketing, Financial Services & Management Research, 1(8), 2277-3622.

Batalova, J., Shymonyak, A., & Mittelstadt, M. (2008). Immigration: data matters: Population Reference Bureau Washington, DC.

Bebbington, J. (2001). Sustainable development: a review of the international development, business and accounting literature. Paper presented at the Accounting Forum.

Bensaid, B., Grine, F., Nor, M. R. M., & Yusoff, M. (2013). Enduring financial debt: An Islamic perspective. Middle-East Journal of Scientific Research, 13(2), 162-170.

Brown, B. J., Hanson, M. E., Liverman, D. M., & Merideth, R. W. (1987). Global sustainability: Toward definition. Environmental management, 11(6), 713-719.

Danaan, V. V. (2018). Analysing poverty in Nigeria through theoretical lenses. Journal of Sustainable development, 11(1), 20-31.

Dossa, Z., & Kaeufer, K. (2014). Understanding sustainability innovations through positive ethical networks. Journal of Business Ethics, 119(4), 543-559.

Dusuki, A. W. (2008). Banking for the poor: the role of Islamic banking in microfinance initiatives. Humanomics, 24(1), 49-66.

Egwuatu, M. B. S. (2008). Reducing poverty through better credit delivery: The Asian experience. PUBLICATION OF THE CENTRAL BANK OF NIGERIA, 8.

Farooq, M. O. (2011). Qard Hasan, Wadi'ah/Amanah and Bank Deposits: Applications and Misapplications of Some Concepts in Islamic Banking. Arab LQ, 25, 115.

Geels, F. W. (2011). The multi-level perspective on sustainability transitions: Responses to seven criticisms. Environmental innovation and societal transitions, 1(1), 24-40.

Hasanah, A., & Yusuf, A. A. (2016). Determinants of the establishment of Islamic micro finance institutions: the case of Baitul Maal wa Tamwil (BMT) in Indonesia. Retrieved from

Hermes, N., Lensink, R., & Meesters, A. (2011). Outreach and efficiency of microfinance institutions. World Development, 39(6), 938-948.

Herzberg, A. (2014). Sustainability of External Imbalances: A critical appraisal: Springer.

Hoffman, A. J., & Haigh, N. (2011). Positive deviance for a sustainable world: Linking sustainability and positive organizational scholarship.

Lind, N. (2019). A development of the human development index. Social Indicators Research, 146(3), 409-423.

Liu, Q.-Q., Yu, M., & Wang, X.-L. (2015). Poverty reduction within the framework of SDGs and Post-2015 Development Agenda. Advances in Climate Change Research, 6(1), 67-73.

Mamat, N., Rani, M. A. M., Harun, N. H., Borhan, F. P., & Moidin, S. (2025). Poverty Alleviation: The Role Of Commercial Housing Waqf (Chw) In Achieving Sustainable Development Goals (Sdgs) In Malaysia. al-Qanatir: International Journal of Islamic Studies, 34(04), 334-341.

Markard, J., Raven, R., & Truffer, B. (2012). Sustainability transitions: An emerging field of research and its prospects. Research policy, 41(6), 955-967.

Masron, T. A., & Subramaniam, Y. (2019). Does poverty cause environmental degradation? Evidence from developing countries. Journal of poverty, 23(1), 44-64.

Muhammad, T. (2017). Applicability of Islamic microfinance bank solution to poverty reduction in the Northeast Nigeria. International journal of innovative research and development.

Nigeria, C. B. o. (2005). Micro Finance Policy, Regulatory and Supervisory Framework for Nigeria: Central Bank of Nigeria.

Nurmakhanova, M., Kretzschmar, G., & Fedhila, H. (2015). Trade-off between financial sustainability and outreach of microfinance institutions. Eurasian Economic Review, 5(2), 231-250.

Obaidullah, M. (2008). Introduction to Islamic microfinance. Mohammed Obaidullah, Introduction to Islamic Microfinance, IBF Net Limited.

Okpara, G. C. (2010). Microfinance banks and poverty alleviation in Nigeria. Journal of Sustainable Development in Africa, 12(6), 177-191.

Pezzey, J. (1992). Sustainable development concepts. World, 1(1), 45.

Robinson, M. (2001). The microfinance revolution: Sustainable finance for the poor: World Bank Publications.

Şanal, M., & Zare, L. (2015). End poverty with true management. International Journal of Business and Social Science, 6(9).

Seibel, H. D. (2006). Upgrading indigenous microfinance institutions in Nigeria: Trials and errors. Retrieved from

Slater, J. (2018). India is no longer home to the largest number of poor people in the world. Nigeria is. Washington Post, 10.

Tanko, U. M., Abdullahi, S. R., & Mato, S. B. (2021). Comparative Analysis Of Conventional Finance Products And Non-Interest Finance Products In Nigeria. International journal of Economics, Business and Human Behavour., 2(2), 35-44.

Wu, J.-L., Chen, S.-L., & Lee, H.-Y. (2001). Are current account deficits sustainable?: Evidence from panel cointegration. Economics Letters, 72(2), 219-224.

Wulandari, P., & Kassim, S. (2016). Issues and challenges in financing the poor: case of Baitul Maal Wa Tamwil in Indonesia. International journal of bank marketing, 34(2), 216-234.

Yousef, T. M. (2004). The Murabaha syndrome in Islamic finance: laws, institutions and politics. The politics of Islamic finance, 63-80.