Islamic Quadruple Helix

Abstract

Rooted in sharia values, Islamic finance should have the eligibility to lead microfinance in contributing to financial inclusion in Islamic countries in the Maghreb region. However, Islamic microfinance in this region has not been going well. At least when compared to the Southeast Asian region, Islamic microfinance in this region is still lagging behind. Through a literature study, this conceptual chapter promotes the Islamic Quadruple Helix approach, which integrates the Islamic social finance partnership model and digitalization to accelerate financial inclusion in this region. Therefore, this chapter focuses on three issues: (1) Describe the facts and figures of Islamic finance in the Maghreb region; (2) Explain the role of Islamic social finance partnership and digitalization in fulfilling the lack of Islamic microfinance in this region; and (3) Map the digital financial inclusion ecosystem in this region by illustrating the role of involvement from a number of parties.