Islamic social finance as a catalyst for growth among B40 single-motherpreneurs in Malaysia

Muh Zul Hazmi Rapi; Syarah Syahira Mohd Yusoff; Siti Nursyawani Misman; Rusni Hassan

doi:10.33102/uij.vol37no03.659

Authors

Muh Zul Hazmi Rapi School of Business and Economics, Universiti Brunei Darussalam, Bandar Seri Begawan, Brunei https://orcid.org/0000-0002-1742-9300
Syarah Syahira Mohd Yusoff IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia, Selangor, Malaysia
Siti Nursyawani Misman IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia, Selangor, Malaysia
Rusni Hassan IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia, Selangor, Malaysia https://orcid.org/0000-0003-4332-9044

DOI:

https://doi.org/10.33102/uij.vol37no03.659

Keywords:

Women entrepreneurship, woman empowerment, B40 community, Poverty alleviation, financial inclusion, Nvivo

Abstract

The study aims to explore the challenges faced by single-motherpreneurs in Malaysia and assess the potential of Islamic social finance (ISF) in addressing these obstacles. The research provides insights into how these financial instruments can support economic empowerment and overcome challenges. The study employed a qualitative approach, conducting in-depth interviews with 12 single-motherpreneurs from the B40 community across various Malaysian states. The data were analyzed using content analysis with NVivo software. The study identifies five main themes of challenges faced by single-motherpreneurs in Malaysia, including financial difficulties, time management constraints, lack of support and resources, market competition, and socioeconomic pressures. The study found that ISF emerges as a potential solution, providing tailored products and support systems that can empower single-motherpreneurs and address their specific needs. Through targeted training, financial assistance, and innovative products, ISF can play a transformative role in enhancing the economic viability and resilience of single-motherpreneurs. The originality of this research fills the gap in the existing literature by examining the intersection of single-motherpreneurship and ISF practices in Malaysia. It offers a nuanced perspective on how ISF can empower single-motherpreneurs economically and socially. The study contributes to the broader discourse on women's entrepreneurship and financial inclusion by highlighting the potential of ISF to address the unique challenges faced by this demographic.

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