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    The Role of İslamic Microfinance on Poverty Alleviation in Somalia
    (Selçuk Üniversitesi Sosyal Bilimler Enstitüsü, 2022) Abdulkadir, Salahudin Mohamed; Keya, Perihan Hazel
    This study investigated the role of Islamic microfinance on poverty alleviation in Somalia. Its goal was to build and promote Islamic microfinance and its principles as a way to help the country reduce poverty and thrive economically. This was due to the circumstance that traditional microfinance which charges interest, can't be applied by the Somali community, which is made up entirely of Muslims. In the study, many written documents and electronic records such as books, articles, and publications, reports of national and international relevant institutions was searched and evaluated on the role of Islamic microfinance on poverty alleviation in Somalia. The major finding of the study is that the major financial institutions and banks have the primary goal of serving to the poor people and having a good influence on their income. In fact, the institutions just partially address the issue insufficiently of financial rejection of the poor, They don’t use the variety supply of Islamic law for the monetary goods and services for the advantage of their customers, especially the hard-core poor, and pay little attention to the financial needs of the poor. The study recommend government to create a framework for allowing for Islamic microfinance institutions, like Salaam Financial Services and Kah microfinance institutions (K-MFI), also the government should contribute more to poverty reduction by introducing new strategies to promote financial development among the poor and expanding their financial activities to rural areas. The Donor organizations such as the UN and other INGOs need to align generating of their income with Shari'a and government policy activities to improve the living standards of the poor.