The role of microfinance in supporting solidarity economy. Study of a number of Arab countries
DOI:
https://doi.org/10.34140/bjbv6n4-045Palavras-chave:
microfinance, solidarity economy, arab experiencesResumo
Microfinance is the provision of financial services to individuals or small businesses who lack access to traditional banking system because of lack of guarantees. It aims to support underserved groups through microcredit and other financial services. It differs from traditional funding in its size and flexible terms.
This study aims to explore the role of microfinance in supporting the solidarity economy. We have used a descriptive and analytical approachtoshed light the importance of microfinance and the solidarity economy, and we have analyzed some of the Arab experiences that have succeeded in this activity.
The study found that microfinance has a crucial role in supporting solidarity economy by enabling poor and economically marginalized groups access the necessary funding to develop small and medium-sized enterprises. This contributes to foster financial inclusion and create new job opportunities helping reduce the economic gap between classes and promoting social solidarity. The study also confirmed the success of Arab experiences in the field of microfinance and solidarity economy support. These experiences have shown their ability to promote financial inclusion, economically empowervulnerable groups, and support small enterprises that contribute to sustainable development and social solidarity enhancement.
Referências
Portail Finder. (2023, November 15). Consulté le May 21, 2024, sur Global Financial Inclusion: https://www.findevgateway.org/fr/blog/2023/11/linclusion-financiere-dans-le-monde#:~:text=Notamment%2C%20la%20croissance%20m%C3%A9diane%20du,5%25%20au%20niveau%20des%20IMF.
Abdel Moneim, H., & Others. (2023). the realities of microfinance sector in arab contries. United arab Emirates: Aran monetary fund.
Aribi, A. (2022-2023). Activating the role of microfinance in local development in Algeria - pilot countries' experiences and ways to benefit from them (doctoral thesis). 63. Borj Bouaaririj- Algeria.
Barco , S., & Others. (2019). Financial Mechanisms for Innovative Sociale and solidarity economy. Geneva: International labour organisation.
Companies, D. o. (2022). Microfinance Sector Report. Jordan: Jordanian Central Bank.
Elchaib, I. T. (2010). Impact of microfinance on the target group's standard of living - applied study on an enterprise (magister). Egypt, Egypt: Ain Shams University.
Elgolm, M. (2017). Role of the solidarity economy in economic and social development - Status of the Algerian Zakat Fund 2003-2014. Registered Organization and Work, 6(12).
Ellouz, M. (2020). The role of the social and solidarity economy in Tunisia's development. Academy Journal of Research in Social Sciences, 01(02).
Elsharkaoui, M. A. (2022). Solidarity Economy and its Role in Sustainable Development - Study the State of Egypt's Economy. Journal of Legal and Economic Research, 24.
Esabaag, R. (2020, Décember). Solidarity Economy Financing Formulas - Examining Sudan's Case in Microfinance. Journal of Social and Human Sciences, 13(2), p. 14.
Group, P. P. (2003). Agreed Guidance on Microfinance - Guidelines for the Regulation and Supervision of Microfinance. Washington: CGAP.
Haider, A. (2018). Microfinance and its role in community development-High Diploma in Finance and Banking. Iraq: University of Karbala.
Khezar, R. I. (2021-2022). Social and solidarity economy as a mechanism for achieving integrated economic growth and social well-being - Study the case of Rabazelle, France, Morocco with ways of achieving it in Algeria (doctoral thesis). Setif, Algeria: Farhat Abbas University.
Mdror, D. (2019). Microinsurance:a short history. international social revieww, 72(4).
OECD. (2024). Insights from social and solidarity economy. Local Economic and Employment Development (LEED) Papers.
Toukali, W. (2022-2023). Microfinance Policies and their Role in Microfinance - Algeria's Case Study 2000-2018 (doctoral thesis). 26. Borj Bouaaririj- Algeria.
Unit, S. B. (2019). Policies and their role in shaping the overall vision of microfinance. Microfinance Magazine(4).
