Achieving sustainable development goals through microfinance in four selected countries: issues and challenges

• Main Authors: Abdul Razak, Dzuljastri, Dawami, Qosdan, Elmi, Mohamed Abdi
• Format: Article
• Language: English
• Published: 2021
• Subjects: HG3368 Islamic Banking and Finance
• Online Access: http://irep.iium.edu.my/89401/7/89401_Achieving%20sustainable%20development%20goals.pdf; http://irep.iium.edu.my/89401/; http://publications.waim.my/index.php/jims/issue/view/13
• Institution: Universiti Islam Antarabangsa Malaysia

Sustainable Development Goals (SDGs) are the blueprint adopted by all United Nations Member States in 2015 to achieve a better and more sustainable future for all by 2030. They address the current global challenges of alleviating poverty, protecting the planet and ensuring that all people enjoy peace and prosperity. The 17 Goals are all integrated and interconnected urgent actions in global development that balance social, economic and environmental sustainability. Three of them are directly related to microfinance principles, including ending poverty, decent work & economic growth and reduced inequalities. The purpose of this paper is to investigate how these three goals can be achieved in the practices of microfinance in four countries, namely Bangladesh, Malaysia, Indonesia and Pakistan. This study was library research with qualitative approach that employed content analysis in evaluating the types of financing products. The results will assist us in understanding the similarity and differences in achieving the SDGs and their significance. In addition, recommendations and suggestions are highlighted at the end of the paper to provide the solutions to the current issues faced by microfinance.