Role of Islamic banks in welfare improvement: case study First Community Bank, northern Kenya Wajir Branch

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Date
2011-12
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Kampala International University,School of Business and Management
Abstract
The people of Wajir have a long time and still earning their living from livestock keeping like camels, cattle, goats, sheep and very few from peasantry agriculture where bananas, maize, mangoes, tomatoes are grown majorly for subsistence purpose. The minority of people in Wajir district are dealing in motor vehicles mechanics, taxi drivers. The majority women inclusive are petty traders with retail and wholesale business in Wajir district: The research focused on the role played by First Community Bank Ltd as an Islamic commercial Bank to the society in Wajir District. During the study period oral interviews, observation, questionnaire, journals and review of library materials were used to collect the necessary data. It was recommended that the feasible way to foster welfare improvement in Wajir district is by extending/offering credit services to the society by Islamic banking institutions and also to mobilize their saving culture and target them to profitable microeconomic ventures. In this way, many will get access to funds which can be invested and in time they may raise enough so as to fend for themselves. It is hoped that when the number of people who get access to those credit services increase in Wajir district, welfare improvement will be as well be checked.
Description
A Research Report Submitted to the School of Business and Management in Partial Fulfillment of the Requirements for the Award of the Bachelor of Arts in Economics of Kampala International University
Keywords
Islamic banks
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