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Proposed Development Model: Islamic Finance and Economic Empowerment "Zitouna Foundation Empowering a Model" |
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PP: 27-39 |
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doi:10.18576/ijye/030104
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Author(s) |
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Berberi Mohamed Amine,
Hassani Bouhassoun,
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Abstract |
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| This study aims at shedding light on a new model of development, based on broad principles
of values and ethics such as the prohibition of interest (Riba), and gambling. The study shows how the investment and the use of finance to serve real activity, social and collaborative economy aimed at achieving the quality of life. In order to raise the hope of winning the battle for development and raising the challenges of poverty, unemployment and regional disparities, the authors tries to identify the approach of economic
empowerment through the Islamic Financing mechanisms, as a new type of financing for micro-entrepreneurs and to accompany them in engineering their projects during all stages of the integration process that facilitates economic and social empowerment which should
help to protect the human dignity.
The following research question was set to be explored: To what extent can economic empowerment - through the mechanisms of Islamic finance - contribute to sustainable development? Based on the above, we have tried to familiarise ourselves with the various theoretical concepts related to the idea of economic empowerment. An analogy approach was used towards adopting the Islamic bylaws, and the depth of the purposes of the Shari’s in this study, relying on inductive methodology. Moreover, a leading international case study in Tunisia would be discussed to see how the experience of the Zitouna Empowerment Foundation, which has adopted this Islamic Approach policy and model have benefited in the long run. |
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