Islamic Microfinance System and SMEs in Yemen

The responsibility of Muslims in reducing poverty levels among the poor people are most important since that praised by Allah to be his stewards (Ebadah) to go on balance in our life. As the prophet Mohammad said "He who sleeps on a full stomach whilst his neighbor goes hungry is not one of us "Reported by Bukhari and Muslim" .Over the last few decades, the Islamic financial industry has been growing globally is not only in the Islamic world but also extended to the Western world such as in the United States of America and United Kingdom. However, the main focus of Islamic Banking and financial system globally is to support the poor's creative ideas and enhance their productivity initiatives through supporting SMEs sector. The contribution of SMEs in the global economy has been widely acknowledged, SMEs have an interesting role in developing the national economy in order to make economic growth continued.

Autorentext

Dr. Fahmi Shaaban Mubarak Fararah is a Deputy Dean of Financial and Administrative Affairs and Assistant professor at Department of Management Science at Seiyun Community College. Is consultant of Hadhramout Microfinance Program, Yemen. His interest is in Accounting, Islamic Banking and Finance, Microfinance System and SMEs Development.