Abstract
Despite the exemplary growth of Islamic finance over the past decades, already crossing the USD 1 trillion mark, neither have the poor segments of society been duly attended to, nor have the common masses been offered an adequate chance to benefit from Islamic financial services. The corporate sector has virtually become the major beneficiary of this development, as Islamic financial institutions have largely ignored the objective of value orientation pertaining to Islamic finance.
The Islamic Development Bank (IDB) has initiated a number of programs focusing on the development of micro and small enterprises in member countries, the latest being the Youth Employment Support (YES) Program, which aims to address the unemployment issues of educated youth by developing entrepreneurial capacity and providing financial resources through Islamic financial instruments. However, to reach the appropriate scale, the effort and will of governments is required.
The Islamic Development Bank (IDB) has initiated a number of programs focusing on the development of micro and small enterprises in member countries, the latest being the Youth Employment Support (YES) Program, which aims to address the unemployment issues of educated youth by developing entrepreneurial capacity and providing financial resources through Islamic financial instruments. However, to reach the appropriate scale, the effort and will of governments is required.
| Original language | English |
|---|---|
| Publication status | Published - 2018 |
| Externally published | Yes |