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All Journal Iqtishoduna: Jurnal Ekonomi Islam
Nevi Danila
Department of Finance, College of Business Administration Saudi Arabia
Economics, Econometrics & Finance

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Actualization of Islamic Social Finance During Disasters: The Covid-19 Pandemic'`S Lessons In Indonesia Ahmad Djalaluddin; Kholilah Kolilah; Nevi Danila; Sri Andriani
IQTISHODUNA: Jurnal Ekonomi Islam Vol. 12 No. 2 (2023): October
Publisher : Program Studi Ekonomi Islam Fakultas Ekonomi dan Bisnis Islam Institut Agama Islam Syarifuddin Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54471/iqtishoduna.v12i2.2469

Abstract

The COVID-19 pandemic is the best opportunity for applying Islamic social finance. The government’s limitations in tackling the impact of COVID-19 raise the participation of the Muslim community significantly. Applying Islamic social finance during COVID-19 taught us its effectiveness in dealing with disasters, especially in disaster-prone countries like Indonesia. This research combines normative and empirical aspects. The normative study is sourced primarily from the Qur'an, hadith, and scholarly ijtihad. The empirical study search for empirical practices regarding Islamic social finance development in Indonesia. The study results that Islamic social finance practice in Indonesia during the COVID-19 has reflected a unique and rich actualization in terms of its basis, characteristics, varieties, and purposes; such as social investment, revolving assistance, exemption of tuition fees, and shadaqaa of production tools. The community partnership patterns show that it has great potential to support the state's role in dealing with the disasters’ impact.
Co-Authors Ahmad Djalaluddin Kholilah Kolilah Sri Andriani