Decoding Success: Investigating the Key Elements that Led to an Islamic Cooperative's Prosperity as a Microfinance Institution

Abstract

This article intricately explores the journey of an Islamic cooperative that has transformed into a remarkable microfinance institution, unraveling the threads of its success. Employing a comprehensive investigative approach, this study seeks to uncover the underlying factors driving the cooperative's prosperity in the microfinance sector. Through qualitative research methods, the research meticulously examines the cooperative's regulatory framework, stakeholders’ engagement and governance, transparency, and community development initiatives. By illuminating these pivotal components, this study not only enriches the ongoing discourse on the effectiveness of microfinance but also provides invaluable insights for practitioners, policymakers, and researchers working to cultivate sustainable financial inclusion models within Islamic cooperatives and other contexts.