تمويل المشروعات الصغيرة والأصغر في مؤسسات التمويل الإسلامي من وجهة نظر الممولين والمستثمرين في اليمن

Abstract

This study aimed to identify the reality of Islamic financing of small and micro projects within the Islamic micro financing institutes in Yemen from the perspective of both the beneficiaries and the financers. To achieve the aims of this study, the researcher applied the qualitative analytical approach and quantitative statistical analysis, by designing two questionnaires to serve the objectives of this study. The first was from the perspective of the beneficiaries, and the second from the perspective of the financers. The researcher applied various statistical methods in analysing the data and converting them into numerical values to facilitate its analysis and interpretation. Among the statistical methods were the mode, percentiles, the mean, standard deviation, Cronbach's alpha of reliability, and multiple regression analysis to test the consistency of the questionnaire, and to measure the correlation of the independent variables with the dependent ones. The researcher reached a number of conclusions, of which was that the results of the theoretical part of the study indicated that Muslims have been practicing banking for centuries, not only in modern times. Also, it found Islamic finance caters for developing small and micro projects, by encouraging saving, reasonable consumption, encouraging investment, and enjoining striving and working. The results of the practical part of the study indicated that investors have a tendency towards self-employment and have the ability to gain money and improve their living standards. Also, investors prefer to obtain finance from Islamic financing establishments in order to avoid usury, which is prohibited in Islam. Also, the results revealed that murabahah is the most sought form by beneficiaries and investors alike. From the perspective of the investors, the analytical results of the study showed a statistically significant relationship between informed awareness and the role of financial establishments in the growth and spread of Islamic financing of small and micro projects in Yemen. As for the governmental role, the obstacles and suggested solutions, their impact was weak. From the perspective of the beneficiaries, the analytical results of the study showed the presence of a statistically significant relationship between the regulations of granting financing by the financial establishments and the mechanisms and suggested solutions for the growth and spread of Islamic financing of small projects. As for the obstacles, they had no impact. This study recommends the following: The government ought to work on encouraging small projects and supporting micro finance establishments by facilitating licenses, tax exemption, and reducing customs regulations. Also, the financial establishments in Yemen need to implement the other forms of Islamic financing that comply with the components of these projects, along with the form of murabahah, and the financing bodies and Islamic financing establishments need to work on spreading informed awareness on the concept of Islamic micro financing among beneficiaries, and further develop the abilities of the personnel working in the field of Islamic financing and enhance their awareness towards the importance of Islamic financing of small projects.