ISLAMIC (MICRO)FINANCE

television, and are otherwise limited in accessing educated external opinions from sources
they trust, field officers can be a source of advice (contingent on the temperament and
spare time of the field officer). Vulnerability to counterfeit bills is an issue in the
Bangladeshi slum; one field officer trained women to spot them. Women regularly sought
out field officer opinions on a range of topics, such as children’s schooling, business
opportunities, future investments, and even an insolent son spending time with undesirable
friends (See Transcript 2 below).
Accounting and calculation challenges, and the absence of tools to address them
• Women are not necessarily the sole managers of their household accounts and IMFI
repayment obligations. In Bangladesh, Islamic microfinance clients are organized into
collectives with weekly group repayment meetings. The collective’s leader keeps track of
everyone’s debts through memory, and negotiates late payments with the field officer. As a
result, managing very small amounts of weekly repayment and/or contribution into
mandatory savings accounts—from about 60 cents USD to 4 USD—takes a great deal of
work for both the leader and the field officer. During these meetings, counting and basic
math often posed significant difficulties for clients, so there was value in performing these
processes verbally, as a group. A preference was consistently expressed for round numbers.
I never observed clients using calculators available on their basic mobile phones. If
educated children were home, they were asked to help. But during the daytime repayment
meetings, these children were typically at school or working (See Transcript 1).
TRANSCRIPT 1: The microfinance collective has assembled to make weekly repayments
to the field officer. Client Jebunessa has missed several installments and the field officer
is now insisting she pay off the outstanding amount; he cannot wait any longer. Ameena,
the collective’s leader, intervenes when Jebunessa starts to cry.
Ameena to Jebunessa: Please listen, you should manage. You are suffering, and Sir [Field Officer]
is also suffering.
Field Officer: Give 3,050 taka.
Ameena: 3,000.
Field Officer to Ameena: Why 50 taka less?
Ameena: It will be good for Jebunessa if it a round figure, like 3,000.
Field Officer: No, 3,050.
Ameena: It will be good for her if it’s 50 taka less, because it’s a round figure. You can start
actually collecting the money if it’s a round figure [laughs], then later you’ll manage to get the 50
taka from her.
Ameena to Jebunessa: Sister, on the 9 th , if you are not able to pay, give at least 1,500 taka.
Jebunessa: Ok, I will.
Ameena: Sir, you understand? On the 9 th , she will give 1,500 taka. And on 16 th she will give
another 1,500 taka.
[…]
Field Officer calls out while leaving: Hey, Jebunessa! By the 15 th ! You’ll give 3,050 taka!
Ameena, interrupting: On the 9 th , there will be one installment.
Field Officer: Ok, on the 9 th , at least you will give half, and the remaining you give on the 15 th . All
good, right? Please remember.
Ameena, to Jebunessa: You will give it happily.
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