A comparative study of financing small and cottage industries by interest-free banks in Turkey, Cyprus, Sudan and Bangladesh
Mohammed N. Alam
Purpose – The purpose of this paper is to demonstrate a comparative study of financing small and cottage industries (SCIs) by interest-free banks in different countries like Turkey, Cyprus, Sudan and Bangladesh. Design/methodology/approach – The objectives are achieved by analyzing data based on an “institutional network” theoretical frame of references. The methodological approach used in the research is of a qualitative nature. Findings – The research result shows that the lender–borrower network relationship, especially in case of financing rural-based SCIs by interest-free banks, differ from one country to the other even though the basic principles of interest-free financing remains the same. Originality/value – The ideas of interest-free financing system (IFS) and its specific mode of lending funds towards rural-based SCIs. The research is useful to both financing organizations based on interest-free principles also small and cottage industry owners in developing as well as developed nations, where the Shariah-based IFS is working.
Bangladesh, Cyprus, Financing, Small enterprises, Sudan, Turkey
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