1. Introduction

Literature Review
2.1. Introduction to Microfinance

2.2. Microfinance as Development Tool

2.3. Models in Microfinance

2.3.1. Progressive Lending-Banco Sol Model

2.3.2. Microfinance with a Difference: Islamic Microfinance

2.3.3. Limitation of MFIs Model

2.3.4. Problems Faced by MFIs

2.3.5. Ethical Concerns in Microfinance

2.3.6. Role of Ethics in low class individuals

Conceptual & Theoretical Framework
3.1. Propositions

3.2. Akhuwat Case

Research Methodology
4.1. Paradigm

4.2. Philosophical assumptions

4.2.1. Ontological

4.2.2. Epistemological

4.3. Type of research

4.4. Research Approach

4.5. Research strategy

4.6. Unit of Analysis

4.7. Interpreting Results

4.8. Ensuring Quality

4.8.1. Construct validity

4.8.2. Internal validity/credibility

4.8.3. External validity/transferability

4.8.4. Reliability/dependability

4.9. Data collection

4.10. Data Analysis

4.11. Reporting Structure

4.12. Time Horizon

4.13. Ethical Considerations

Results and Interpretation
5.1. Emerging Themes

5.1.1. Religious Factors

5.1.2. Organizational Factors

5.1.3. Human Factors

5.2. Interpretation of Themes

5.2.1. Religious Factors

5.2.1.1. Islamic Philosophy of IFM

5.2.1.2. Use of religious places

5.2.2.3. Religious Education/Teaching

5.2.2.4. Nobel Act

5.2.2.5. Spiritual Satisfaction

5.2.2. Organizational Factors

5.2.3. Human Factors

5.2.3.1. Psychological Attachment

5.2.3.2. Increased Sense of Responsibility

5.2.3.3. Feeling of Gratitude

5.3. Additional Observations

Discussion
Conclusions
Limitation and Future Research Directions

Appendix

Dawood Mamoon

Pakistan

Dr. Dawood’s research interests center on issues of national competitiveness. His research, published in the Journal of Peace Research and Economics of Governance, finds that bilateral and multilateral trade mitigates conflict between India and Pakistan, and would like to extend his analysis to look at how spending on education or levels of education behave with respect to conflict. He believes that one reason poverty has not been significantly reduced in some developing countries is due to prevalent conflict. He also is director of the Center for Graduate Research. Among the courses he teaches is Harvard Business School’s microeconomics of competitiveness. He also supervises Ph.D and MS research and manages MS programs in the School of Business and Economics. Dawood holds a Ph.D in Economics of Sustainable Development and an MA in Development Economics, both from Erasmus University, the Netherlands. He also holds an MPhil and an MS in Economics, both from Quaid-e-Azam University in Pakistan.