Implementing “Zakat”-Based Microfinance in Indonesia

Hasan, Sudirman (2016) Implementing “Zakat”-Based Microfinance in Indonesia. IOSR Journal of Economics and Finance, 7 (5). pp. 57-61. ISSN 2321-5933

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Abstract

Abstract: This paper aims at describing the Bank of “Zakat” eL-Zawa as a potential zakat-based microfinance. eL-Zawa uses the donation from “muzakki” to be its capital and distributes that money to the poor. The contracts of fund distribution are mostly “qardh al-hasan” (free-interest loan) and “mudharabah” (profit-lost sharing). In “qardh al-hasan” program, eL-Zawa distributes the capital to the poor as interest-free loan. Meanwhile, in “mudharabah” version, it provides the capital for the successful members of “qardhul hasan” program to develop their business. Bank of “Zakat” eL-Zawa wants to implement professional system and still keeping its features: helping the poor and avoiding exploitation of the recipients.

Item Type: Journal Article
Keywords: bank of zakat; microfinance; productive; profit-lost-sharing
Subjects: 18 LAW AND LEGAL STUDIES > 1801 Law > 180127 Mu'amalah (Islamic Commercial & Contract Law) > 18012715 al-Waqf
Divisions: Faculty of Sharia and Law > Department al-Ahwal al-Syakhshiyyah
Depositing User: Sudirman Hasan
Date Deposited: 09 Feb 2017 11:36

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