ALTERNATIVE FINANCIAL INCLUSION STRATEGY: ISLAMIC EXPECTATIONS FROM OGUN SUB - NATIONAL GOVERNMENT, NIGERIA

Abstract

This study attempts to understand how Islamic microfinance as a financial inclusion strategy can be applied in alleviating poverty and maintain sustainable development in Nigeria. It analyses the principles of Islamic finance and conceptualizes its operational details to see the linkage between the real economies and sustainable development. The survey conducted in Ogun State, a sub national government of Nigeria reveal that notwithstanding the current upsurge in religious tension in Nigeria, religion is not a hindering factor to the implementation of Islamic microfinance. It also showed that Islamic microfinance in concert with the right fiscal and monetary policies framework, will contribute positively to poverty alleviation in Nigeria.