Keywords: Islamic Microfinance, Women empowerment, SDGs, Bangladesh.


Bangladesh is now playing a role model in conventional microfinancing programs in the whole world. Though the financial sectors of this country cover both conventional and Islamic modes. There exist some limitations of conventional microfinancing operating by NGOs.  The Islamic microfinancing programs are not enhanced in comparing conventional microfinancing due to a lack of proper policy formulation. Most people are practicing Muslims and want to avoid interest. The Islamic financial institutions have emphasized women's empowerment through shariah-based microfinancing and achieving sustainable economic development. The main objective of this study is to investigate the effectiveness of Islamic microfinance for empowering women and achieving SDGs in Bangladesh. The methodology of this study is based on secondary data including existing relevant literature and annual reports of different financial institutions. The findings of this study show that Islamic microfinance institutions perform a significant role in empowering women as well as attaining SDGs and have a broader scope to flourish more by applying their various investment modes. This study will help to promote shariah-based microfinancing in the future and transmit microfinance systems to other countries of the world. This paper also tries to recommend some strategies and policy options to promote shariah-based microfinancing to reduce the challenges to ensuring women's empowerment and attaining SDGs.

Author Biographies

Md. Shahbub Alam, Islamic University, Bangladesh

Assistant Professor, Dept. of Accounting and Information Systems, Islamic University, Bangladesh

Md. Kamal Uddin, Islamic University, Bangladesh

Dept. of Accounting and Information Systems, Islamic University, Bangladesh


Md. Jafor Ali, Universiti of Selangor, Malaysia

Ph.d Fellow, Universiti of Selangor, Shah Alam, Malaysia

Md. Nazmul Huda, Islamic University, Bangladesh

Dept. of Accounting and Information Systems, Islamic University, Bangladesh

Abul Bashar Bhuiyan, Universiti of Selangor, Malaysia

Associate Professor, Faculty of Business and Accountancy, Universiti of Selangor, Shah Alam, Malaysia


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How to Cite
Alam, M. S., Uddin, M. K., Ali, M. J., Huda, M. N., & Bhuiyan, A. B. (2022). ISLAMIC MICROFINANCE AS A TOOL FOR WOMEN EMPOWERMENT AND SUSTAINABLE ECONOMIC DEVELOPMENT GOALS IN BANGLADESH. American International Journal of Multidisciplinary Scientific Research, 13(1), 1-13.
Research Paper/Theoretical Paper/Review Paper/Short Communication Paper