Browsing by Author Alhabshi, Syed Othman

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Showing results 44 to 63 of 82
  • 2009_july_22_kewangan_islam_pembiyaan_dan_instrumen_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Alhabshi, Syed Othman (2009-07-22)

  • Masalah paling penting: sistem kewangan berdasarkan riba telah menguasai dunia selama lebih lima abad semenjak bermulanya ekonomi perdagangan dan perbankan pada abad ke-16. Hakikatnya ialah ribatelah menjadi tajuk perdebatan selama lebih 3,000 tahun Aristotle, ahli falsafah dan pemikir berbangsa Greek, dalam bukunya "Politics" telah membantah amalan riba sekeras-kerasnya. Aristotle menulis, "Of the two sorts of money-making; one is a part of household management, the other is retail trade: the former necessary and honourable, the latter a kind of exchange which is justly censured; for it is unnatural, and a mode by which men gain from one another."

  • 2009_june_14_leadership_for_success_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Alhabshi, Syed Othman (2009-06-14)

  • Leaders are needed everywhere. They are at all levels, have different roles at different places and times, always portray their potentials at the right time. They do not have the same style all the time and may or may not be successful.

  • low_market_penetration_takaful_among_Malaysians_non-takaful_customer's_perspective_soal.pdf.jpg
  • Journal Article


  • Authors: Mohamed, Omaima Eltahir Babikir; Alhabshi, Syed Othman (2015)

  • The Malaysian Takaful industry has experienced encouraging growth sinceits commencement in 1985. Annual growth rate of the industry has beenestimated at 20%. Despitethis rapid rate of growth the rate of penetration isstill not impressive. This paper seeks to find the reasons for this relativelylow penetration rate of the Takaful industry among Malaysians from the perspective of Malaysians who do not participate in the Takaful industry.The method employed to achieve the objective of this paper was the surveymethod; Data analysed using Logistic Regression Model (LR).This research finds that marketing, is a robust predictor of Takaful demand, as 50% of the respondents have not been appro...

  • Malaysian investors perspectives on Islamic stock market_Marjan_Syed Othman_Mansur Masih.jpg.jpg
  • Chapter in Book


  • Authors: Naseri, Marjan; Alhabshi, Syed Othman; Mohammed Masih, Abul Mansur (2017)

  • This chapter attempts to analyse the extent of financial integration of Islamic stock markets in two developed (the US and Japan) and two developing countries (China and India). The study takes the perspectives of the Malaysian Islamic investors in making their decisions about portfolio diversification, risk management and asset allocation. Despite the growing interest in Islamic finance, there are a few empirical studies investigating integration of Islamic stock markets. As a result, there is a certain gap in the literature pertaining to this area of research. By applying recent relevant techniques such as MGARCH-DCC and wavelets (both CWT and MODWT) ... Available in physical cop...

  • 2011_nov_10_masa_hadapan_menangani_cabaran_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Alhabshi, Syed Othman (2011-11-10)

  • Bahasa Kebangsaan digunapakai di setiap sektor kerajaan semenjak Bahasa Melayu dijadikan Bahasa Kebangsaan kerana ia adalah dasar negara. Sektor kerajaan termasuklah dalam semua bidang pentadbiran dan pendidikan. Bahkan, untuk mengendalikan program pendidikan didalam Bahasa lain daripada Bahasa Kebangsaan perlukan kelulusan Menteri.

  • 2011_feb_21_memperkasa_ekonomi_ummah_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Alhabshi, Syed Othman (2011-02-21)

  • Ekonomi merupakan asas hidup yang amat penting dan bermakna. Masalah ekonomi boleh menjelma dalam berbagai cara. Ketidak seimbangan ekonomi menonjolkan perasaan negatif antara mereka yang berada dan yang tidak berada. Paras harga yang tinggi juga boleh menjadi masalah besar. Inflasi boleh menghakis pendapatan terutama mereka yang berpendapatan rendah. Pengangguran juga akan membawa akibat yang buruk kepada negara. Yang paling penting ialah kadar kemiskinan yang semakin meninggi boleh menjajaskan kesetabilan sosial dan politik negara.

  • item.jpg
  • PhD


  • Authors: Hassan, Salwana (2013)

  • Every human needs a good and quality life. A quality living is essential to ensure positive physical, mental as well as spiritual development in an individual. This balanced individual will form a stable family unit and later on contribute to a progressive community in a bigger social entity. A comfortable life is usually challenged by indispensable social ill called poverty. It is a global phenomenon that has challenged the economic, social and political landscape of every society in the world including Malaysia ...

  • microfinance_through_islamic_banks_zakah_soal_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda; Alhabshi, Syed Othman (2015)

  • The failure of the current microfinance programmes in financing with zero interest and eradicating poverty encouraged the authors to look at a recent practice which can achieve such goals. Hence, the main objective of this paper is to present one of the Islamic approaches of microfinance which is currently practised in Sudan and which succeeded in financing with zero-interest through Islamic banks and zakah. This research used qualitative method in gaining some insight into the problem and to nd the alternative solution. To achieve this, secondary data was used by referring to annual reports, World Bank reports from relevant web sites, the central bank’s policies, published books, ar...

  • item.jpg
  • Academic Proceeding


  • Authors: Mat Sari, Norhanim; Mirakhor, Abbas; Alhabshi, Syed Othman (2013)

  • Monetary policy is an important available tool for governments to pursuit macroeconomic objectives. However, the recent financial crisis has revealed the weaknesses of the conventional monetary policy framework. Monetary policy has been found to be a prominent cause of financial instability. Inability of expansionary monetary policy to induce new lending in many economies is considered as evidence of the impairment of conventional monetary policy transmission mechanism. Additionally, the post-crisis diagnostics have revealed that monetary policy failed to address asset market imbalances. A large number of these studies have focused on the reforms of the conventional system. Some sugge...

  • Organizational_form_efficiency_The_coexistence_obiyathulla.pdf.jpg
  • Academic Proceeding


  • Authors: Ismail, Norashikin; Alhabshi, Syed Othman; Bacha, Obiyathulla Ismath (2011)

  • After 25 years in operation, it is time that takaful industry is evaluated in terms of its performance. One of the issues that has impact on efficiency is organization form. There have been two conflicting opinions on this issue. Eling & Luhnen (2010) opined that mutual form is efficient than stock form but Brockett (2005) concluded the opposite. This paper provides an empirical study on the relationship between efficiency and organizational structure for takaful operators in Malaysian dual financial system. A sample of 19 firms is chosen over the period 2004-2009. The selection of inputs and outputs are based on flow approach con...

  • organizational_form_efficiency_coexistence_family_takaful_life_insurance_malaysia_ismail_etal.pdf.jpg
  • Journal Article


  • Authors: Ismail, Norashikin; Alhabshi, Syed Othman; Bacha, Obiyathulla Ismath (2011)

  • This study analyzes the coexistence of two different organizational forms of insurance, namely Takaful and conventional insurance. We analyze the efficiency of different organizational forms in 13 countries for the period 2007-2011. Technical, allocative, cost, and revenue frontiers are estimated using data envelopment analysis. We test the expense preference hypothesis and efficient structure hypothesis. We find evidence for the efficient structure hypothesis and expense preference hypothesis in selected market segments. The results provide insight into the competitiveness of conventional and Takaful insurers from different countries.

  • 2008_oct_20_an_overview_of_islamic_finance_from_a_regulator_perspective_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Alhabshi, Syed Othman (2008-10-20)

  • The slides "An overview of Islamic finance from a regulator perspective" presented by Prof. Datuk Dr. Syed Othman Alhabshi at a Special Presentation to Board of Directors & Top Management of Qatar Financial Centre Regulatory Authority, Doha, Qatar.

  • pent_up_demand_for_islamic_finance.pdf.jpg
  • Chapter in Book


  • Authors: Alhabshi, Syed Othman (2017)

  • After slightly more than five decades of embracing Islamic banking through the establishment of the Pilgrims Fund (Tabung Haji) in 1963 and Bank Islam Malaysia Berhad in 1983, Malaysia today is an icon of Islamic banking and finance, surpassing many other financial centres in the world. The most striking achievements for Malaysia include the rapid growth of Islamic financial assets, the global leader status in the issuance of sukuk or Islamic bond and the robust legal and regulatory infrastructure that has been put in place... Available in physical copy only (Call Number: HG 3368 A6 I82Mo)

  • 2010_nov_1_peranan_dan_tanggungjawab_ahli_lembaga_pengarah_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Alhabshi, Syed Othman (2010-11-01)

  • Tujuan syarikat ditubuhkan adalah untuk melakukan sesuatu kegiatan yang berfaedah kepada pemiliknya, pekerjanya, pengurusannya, pelanggannya. Pengurusan merancang, melaksana, mengurus dan memanta. Pekerja melakukan segala kegiatan bagi mencapai tujuan penubuhan syarikat dibawah pengawasan pengurusan. Pemiliksyarikat (dalam hal ini Negeri Kedah Darulaman) telah mengeluarkan modal yang besar dengan harapan syarikat itu maju. Kerajaan Negeri melantik Pengurus Besar dll untuk melaksanakan kegiatan syarikat. Kerajaan Negeri melan.tik Ahli Lembaga Pengarah untuk mengawal, memantau, menentukan strategi, dasar, peraturan, budaya kerja, dll supaya syarikat maju

  • private_equity_islamic_private_equity_qualitative_case_study_malaysian_institutional_investors_behavior_soal_2013.pdf.jpg
  • Academic Proceeding


  • Authors: Lasri, Abdeslame; Alhabshi, Syed Othman; Lahsasna, Ahcene (2013)

  • Private equity investing (PE) has experienced a rapid growth on a global scale over the past several decades and has become a significant industry. But while scholars have devoted considerable effort to studying the area of risk capital investing into businesses, research about private equity as an asset class is surprisingly scarce. The aim of this research is to provide a deeper understanding about how differences in organizational characteristics may affect institutional investors’ motives for investing in private equity including Islamic private equity, ways of working, satisfaction with investment performances, and their respective choices of investment strategies for both conven...

  • 2013_mar_5_private_equity_and_islamic_private_equity_slides_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Lasri, Abdeslame; Alhabshi, Syed Othman; Lahsasna, Ahcene (2013-03-04)

  • Private equity including Islamic private equity gained considerable attention over the last few decades. The focus on private equity's portfolio capabilities within existing literature is very limited. This has been one of the main motivational factors to the research on private equity's portfolio capabilities. The paper contributes towards deep understanding of differences between Islamic and conventional private equity with a focus on behavior of Malaysia investors while investing in private equity.

  • Religion_of_Islam_and_microfinance_ashraful_mansur_syed othman.pdf.jpg
  • Journal Article


  • Authors: Mobin, Mohammad Ashraful; Mohammed Masih, Abul Mansur; Alhabshi, Syed Othman (2017)

  • This study is the initial attempt to investigate first whether microfinance institutions (MFIs) perform differently in the OIC countries where Islam is the prevailing religion and second, how Islamic microfinance institutions are different (if any) from the conventional MFIs. To accomplish these objectives, we employ a dynamic difference and system-generalized method of moments estimators. Our findings tend to indicate that there are significant differences in the way Islamic MFIs performed and operated as compared to that of the conventional MFIs in certain regions. However, in other regions, there were no significant differences in operation and performance between the Islamic MFIs ...

  • Religiosity_and_threshold_effect_in_social_and_financial_performance_Ashraful_Syed_Othman_Abul_Mansur.pdf.jpg
  • Academic Proceeding


  • Authors: Mobin, Mohammad Ashraful; Alhabshi, Syed Othman; Mohammed Masih, Abul Mansur (2015)

  • The commercialization process and over-emphasis on sustainability apparently improve micro finance Institutions financial performance and the scale in terms of total number of borrowers and average loan size. Whether focusing on financial sustainability is necessarily at the sacrifice of serving less poor clients? Social and finance performance of MFIs depend on the belief and culture of the participant of the society? The inconsistent results of previous studies implicate that linear regressions may be insufficient to explain the sustainability-outreach linkage because of potential non-linear relationship between financial sustainability and average loan size. To solve this puzzle th...

Browsing by Author Alhabshi, Syed Othman

Jump to: 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
or enter first few letters:  
Showing results 44 to 63 of 82
  • 2009_july_22_kewangan_islam_pembiyaan_dan_instrumen_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Alhabshi, Syed Othman (2009-07-22)

  • Masalah paling penting: sistem kewangan berdasarkan riba telah menguasai dunia selama lebih lima abad semenjak bermulanya ekonomi perdagangan dan perbankan pada abad ke-16. Hakikatnya ialah ribatelah menjadi tajuk perdebatan selama lebih 3,000 tahun Aristotle, ahli falsafah dan pemikir berbangsa Greek, dalam bukunya "Politics" telah membantah amalan riba sekeras-kerasnya. Aristotle menulis, "Of the two sorts of money-making; one is a part of household management, the other is retail trade: the former necessary and honourable, the latter a kind of exchange which is justly censured; for it is unnatural, and a mode by which men gain from one another."

  • 2009_june_14_leadership_for_success_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Alhabshi, Syed Othman (2009-06-14)

  • Leaders are needed everywhere. They are at all levels, have different roles at different places and times, always portray their potentials at the right time. They do not have the same style all the time and may or may not be successful.

  • low_market_penetration_takaful_among_Malaysians_non-takaful_customer's_perspective_soal.pdf.jpg
  • Journal Article


  • Authors: Mohamed, Omaima Eltahir Babikir; Alhabshi, Syed Othman (2015)

  • The Malaysian Takaful industry has experienced encouraging growth sinceits commencement in 1985. Annual growth rate of the industry has beenestimated at 20%. Despitethis rapid rate of growth the rate of penetration isstill not impressive. This paper seeks to find the reasons for this relativelylow penetration rate of the Takaful industry among Malaysians from the perspective of Malaysians who do not participate in the Takaful industry.The method employed to achieve the objective of this paper was the surveymethod; Data analysed using Logistic Regression Model (LR).This research finds that marketing, is a robust predictor of Takaful demand, as 50% of the respondents have not been appro...

  • Malaysian investors perspectives on Islamic stock market_Marjan_Syed Othman_Mansur Masih.jpg.jpg
  • Chapter in Book


  • Authors: Naseri, Marjan; Alhabshi, Syed Othman; Mohammed Masih, Abul Mansur (2017)

  • This chapter attempts to analyse the extent of financial integration of Islamic stock markets in two developed (the US and Japan) and two developing countries (China and India). The study takes the perspectives of the Malaysian Islamic investors in making their decisions about portfolio diversification, risk management and asset allocation. Despite the growing interest in Islamic finance, there are a few empirical studies investigating integration of Islamic stock markets. As a result, there is a certain gap in the literature pertaining to this area of research. By applying recent relevant techniques such as MGARCH-DCC and wavelets (both CWT and MODWT) ... Available in physical cop...

  • 2011_nov_10_masa_hadapan_menangani_cabaran_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Alhabshi, Syed Othman (2011-11-10)

  • Bahasa Kebangsaan digunapakai di setiap sektor kerajaan semenjak Bahasa Melayu dijadikan Bahasa Kebangsaan kerana ia adalah dasar negara. Sektor kerajaan termasuklah dalam semua bidang pentadbiran dan pendidikan. Bahkan, untuk mengendalikan program pendidikan didalam Bahasa lain daripada Bahasa Kebangsaan perlukan kelulusan Menteri.

  • 2011_feb_21_memperkasa_ekonomi_ummah_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Alhabshi, Syed Othman (2011-02-21)

  • Ekonomi merupakan asas hidup yang amat penting dan bermakna. Masalah ekonomi boleh menjelma dalam berbagai cara. Ketidak seimbangan ekonomi menonjolkan perasaan negatif antara mereka yang berada dan yang tidak berada. Paras harga yang tinggi juga boleh menjadi masalah besar. Inflasi boleh menghakis pendapatan terutama mereka yang berpendapatan rendah. Pengangguran juga akan membawa akibat yang buruk kepada negara. Yang paling penting ialah kadar kemiskinan yang semakin meninggi boleh menjajaskan kesetabilan sosial dan politik negara.

  • item.jpg
  • PhD


  • Authors: Hassan, Salwana (2013)

  • Every human needs a good and quality life. A quality living is essential to ensure positive physical, mental as well as spiritual development in an individual. This balanced individual will form a stable family unit and later on contribute to a progressive community in a bigger social entity. A comfortable life is usually challenged by indispensable social ill called poverty. It is a global phenomenon that has challenged the economic, social and political landscape of every society in the world including Malaysia ...

  • microfinance_through_islamic_banks_zakah_soal_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda; Alhabshi, Syed Othman (2015)

  • The failure of the current microfinance programmes in financing with zero interest and eradicating poverty encouraged the authors to look at a recent practice which can achieve such goals. Hence, the main objective of this paper is to present one of the Islamic approaches of microfinance which is currently practised in Sudan and which succeeded in financing with zero-interest through Islamic banks and zakah. This research used qualitative method in gaining some insight into the problem and to nd the alternative solution. To achieve this, secondary data was used by referring to annual reports, World Bank reports from relevant web sites, the central bank’s policies, published books, ar...

  • item.jpg
  • Academic Proceeding


  • Authors: Mat Sari, Norhanim; Mirakhor, Abbas; Alhabshi, Syed Othman (2013)

  • Monetary policy is an important available tool for governments to pursuit macroeconomic objectives. However, the recent financial crisis has revealed the weaknesses of the conventional monetary policy framework. Monetary policy has been found to be a prominent cause of financial instability. Inability of expansionary monetary policy to induce new lending in many economies is considered as evidence of the impairment of conventional monetary policy transmission mechanism. Additionally, the post-crisis diagnostics have revealed that monetary policy failed to address asset market imbalances. A large number of these studies have focused on the reforms of the conventional system. Some sugge...

  • Organizational_form_efficiency_The_coexistence_obiyathulla.pdf.jpg
  • Academic Proceeding


  • Authors: Ismail, Norashikin; Alhabshi, Syed Othman; Bacha, Obiyathulla Ismath (2011)

  • After 25 years in operation, it is time that takaful industry is evaluated in terms of its performance. One of the issues that has impact on efficiency is organization form. There have been two conflicting opinions on this issue. Eling & Luhnen (2010) opined that mutual form is efficient than stock form but Brockett (2005) concluded the opposite. This paper provides an empirical study on the relationship between efficiency and organizational structure for takaful operators in Malaysian dual financial system. A sample of 19 firms is chosen over the period 2004-2009. The selection of inputs and outputs are based on flow approach con...

  • organizational_form_efficiency_coexistence_family_takaful_life_insurance_malaysia_ismail_etal.pdf.jpg
  • Journal Article


  • Authors: Ismail, Norashikin; Alhabshi, Syed Othman; Bacha, Obiyathulla Ismath (2011)

  • This study analyzes the coexistence of two different organizational forms of insurance, namely Takaful and conventional insurance. We analyze the efficiency of different organizational forms in 13 countries for the period 2007-2011. Technical, allocative, cost, and revenue frontiers are estimated using data envelopment analysis. We test the expense preference hypothesis and efficient structure hypothesis. We find evidence for the efficient structure hypothesis and expense preference hypothesis in selected market segments. The results provide insight into the competitiveness of conventional and Takaful insurers from different countries.

  • 2008_oct_20_an_overview_of_islamic_finance_from_a_regulator_perspective_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Alhabshi, Syed Othman (2008-10-20)

  • The slides "An overview of Islamic finance from a regulator perspective" presented by Prof. Datuk Dr. Syed Othman Alhabshi at a Special Presentation to Board of Directors & Top Management of Qatar Financial Centre Regulatory Authority, Doha, Qatar.

  • pent_up_demand_for_islamic_finance.pdf.jpg
  • Chapter in Book


  • Authors: Alhabshi, Syed Othman (2017)

  • After slightly more than five decades of embracing Islamic banking through the establishment of the Pilgrims Fund (Tabung Haji) in 1963 and Bank Islam Malaysia Berhad in 1983, Malaysia today is an icon of Islamic banking and finance, surpassing many other financial centres in the world. The most striking achievements for Malaysia include the rapid growth of Islamic financial assets, the global leader status in the issuance of sukuk or Islamic bond and the robust legal and regulatory infrastructure that has been put in place... Available in physical copy only (Call Number: HG 3368 A6 I82Mo)

  • 2010_nov_1_peranan_dan_tanggungjawab_ahli_lembaga_pengarah_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Alhabshi, Syed Othman (2010-11-01)

  • Tujuan syarikat ditubuhkan adalah untuk melakukan sesuatu kegiatan yang berfaedah kepada pemiliknya, pekerjanya, pengurusannya, pelanggannya. Pengurusan merancang, melaksana, mengurus dan memanta. Pekerja melakukan segala kegiatan bagi mencapai tujuan penubuhan syarikat dibawah pengawasan pengurusan. Pemiliksyarikat (dalam hal ini Negeri Kedah Darulaman) telah mengeluarkan modal yang besar dengan harapan syarikat itu maju. Kerajaan Negeri melantik Pengurus Besar dll untuk melaksanakan kegiatan syarikat. Kerajaan Negeri melan.tik Ahli Lembaga Pengarah untuk mengawal, memantau, menentukan strategi, dasar, peraturan, budaya kerja, dll supaya syarikat maju

  • private_equity_islamic_private_equity_qualitative_case_study_malaysian_institutional_investors_behavior_soal_2013.pdf.jpg
  • Academic Proceeding


  • Authors: Lasri, Abdeslame; Alhabshi, Syed Othman; Lahsasna, Ahcene (2013)

  • Private equity investing (PE) has experienced a rapid growth on a global scale over the past several decades and has become a significant industry. But while scholars have devoted considerable effort to studying the area of risk capital investing into businesses, research about private equity as an asset class is surprisingly scarce. The aim of this research is to provide a deeper understanding about how differences in organizational characteristics may affect institutional investors’ motives for investing in private equity including Islamic private equity, ways of working, satisfaction with investment performances, and their respective choices of investment strategies for both conven...

  • 2013_mar_5_private_equity_and_islamic_private_equity_slides_alhabshi.pdf.jpg
  • Academic Presentation


  • Authors: Lasri, Abdeslame; Alhabshi, Syed Othman; Lahsasna, Ahcene (2013-03-04)

  • Private equity including Islamic private equity gained considerable attention over the last few decades. The focus on private equity's portfolio capabilities within existing literature is very limited. This has been one of the main motivational factors to the research on private equity's portfolio capabilities. The paper contributes towards deep understanding of differences between Islamic and conventional private equity with a focus on behavior of Malaysia investors while investing in private equity.

  • Religion_of_Islam_and_microfinance_ashraful_mansur_syed othman.pdf.jpg
  • Journal Article


  • Authors: Mobin, Mohammad Ashraful; Mohammed Masih, Abul Mansur; Alhabshi, Syed Othman (2017)

  • This study is the initial attempt to investigate first whether microfinance institutions (MFIs) perform differently in the OIC countries where Islam is the prevailing religion and second, how Islamic microfinance institutions are different (if any) from the conventional MFIs. To accomplish these objectives, we employ a dynamic difference and system-generalized method of moments estimators. Our findings tend to indicate that there are significant differences in the way Islamic MFIs performed and operated as compared to that of the conventional MFIs in certain regions. However, in other regions, there were no significant differences in operation and performance between the Islamic MFIs ...

  • Religiosity_and_threshold_effect_in_social_and_financial_performance_Ashraful_Syed_Othman_Abul_Mansur.pdf.jpg
  • Academic Proceeding


  • Authors: Mobin, Mohammad Ashraful; Alhabshi, Syed Othman; Mohammed Masih, Abul Mansur (2015)

  • The commercialization process and over-emphasis on sustainability apparently improve micro finance Institutions financial performance and the scale in terms of total number of borrowers and average loan size. Whether focusing on financial sustainability is necessarily at the sacrifice of serving less poor clients? Social and finance performance of MFIs depend on the belief and culture of the participant of the society? The inconsistent results of previous studies implicate that linear regressions may be insufficient to explain the sustainability-outreach linkage because of potential non-linear relationship between financial sustainability and average loan size. To solve this puzzle th...