The Impact of Covid-19 on Microfinance Institutions in Somalia

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İslam Ekonomisi Dergisi
Volume:3 Issue:1
The Impact of Covid-19 on Microfinance Institutions in Somalia

The Impact of Covid-19 on Microfinance Institutions in Somalia

Authors : Safıyo ABDIFITAH SHIRE, Tawfik AZRAK

Pages : 69-84

Doi:10.55237/jie.1146244

View : 31 | Download : 20

Publication Date : 2023-01-15

Article Type : Research Paper

Abstract :This study aims to investigate how Covid-19 has affected the microfinance institutions in Somalia. This study employed a qualitative descriptive approach by conducting a case study in Mogadishu and Hargeisa. The data of the study was collected through a questionnaire distributed to microfinance institutions in Somalia in 2021. The paper found that the number of MFIs that have been negatively affected by the epidemic was higher than the number affected positively or naturally. It also found that most MFIs witnessed high credit risks, and more than half of them have reduced lending to less than half due to Covid-19.
Keywords : Islamic Microfinance, Impact of Covid 19, Covid 19, Microfinance Institutions

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