Cash Waqf: Ethical & Sustainable Qard Hasan Microfinancing in Malaysia for B40 & M40 Inclusion

Full Paper

Authors

  • Zulkefly Ibrahim Institute of Islamic Banking and Finance, International Islamic University, Malaysia

Abstract

This study introduces Qard Hasan in Islamic banking to uplift Malaysia's low- and middle-income groups amid pandemic-induced loan accessibility challenges. Qualitative interviews reveal the Cash Waqf-based model as promising for sustainable microfinancing post-COVID-19. Stakeholder engagement is crucial for implementation success. The qard hasan and cash waqf (QHCW) framework fosters financial inclusivity and philanthropy, enhances quality of life, and addresses socio-economic disparities. It signifies significant progress in Malaysian microfinancing, aligning with broader developmental goals. The analysis underscores substantive engagement, with suggestions for model refinement and a notable proposal for a unique trust council, highlighting collaborative advancements in the field.

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Published

2024-05-11

How to Cite

Ibrahim, Z. (2024). Cash Waqf: Ethical & Sustainable Qard Hasan Microfinancing in Malaysia for B40 & M40 Inclusion: Full Paper. Environment-Behaviour Proceedings Journal, 9(29). Retrieved from https://ebpj.e-iph.co.uk/index.php/EBProceedings/article/view/5989