Potensi Pembiayaan Mikro Kredit-qarḍ Ḥasan Melalui Dana Zakat Pasca Covid-19 di Malaysia
The Potential of Micro Credit-Qarḍ Ḥasan Financing Through Zakat Fund Post Covid-19 In Malaysia
Keywords:
zakat, micro credit, qarḍ ḥasan, lending, pandemicAbstract
Islam allows lending as an alternative to assist those in need of financial help. It constitutes one of the contracts motivated by benevolence (tabarru'). Fundamentally, lending in Islam (qarḍ ḥasan) is executed through two conditions, namely, lending with the condition of repayment and without the stipulation of interest. Therefore, Islam does not recognize loans accompanied by additional payments or interest. However, the concept of qarḍ ḥasan has less prominence among financial institutions such as banks because it lacks profit motivation besides the significant risk factor. Consequently, it is considered more relevant for implementation through zakat funds due to the same altruistic basis. Nonetheless, cautious research is needed to prevent zakat funds from being exposed to risks. The purpose of this study is to highlight the implementation of this concept by Islamic countries and the extent of its effectiveness. This qualitative study relies on document analysis based on literature review encompassing books, articles, official websites, and others. The study findings reveal that the concept of microfinance through qarḍ ḥasan has been implemented in several countries such as Indonesia, Kuwait and Algeria. The study recommends further research on the sustainability issue of zakat funds used for microfinance through qarḍ ḥasan. This aims to prevent zakat funds from being exposed to diminishing risks that could compromise the rights of the beneficiaries (asnaf).
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