Cash Waqf: Ethical & sustainable Qard Hasan Microfinancing in Malaysia for B40 & M40 inclusion

Zulkefly Ibrahim; Nur Farhah Mahadi; Habeebullah Zakariyah; Aznan Hasan; Junarti Bahtiar

doi:10.21834/e-bpj.v9i29.6014

Authors

Zulkefly Ibrahim Institute of Islamic Banking and Finance, International Islamic University, Malaysia
Nur Farhah Mahadi Institute of Islamic Banking and Finance, International Islamic University, Malaysia
Habeebullah Zakariyah Institute of Islamic Banking and Finance, International Islamic University, Malaysia
Aznan Hasan Institute of Islamic Banking and Finance, International Islamic University, Malaysia
Junarti Bahtiar Ahmad Dahlan Institute of Technology and Business, Jakarta, Indonesia

DOI:

https://doi.org/10.21834/e-bpj.v9i29.6014

Keywords:

Islamic finance, Qard Hasan, Cash Waqf, Financial Inclusion, Sustainable Finance

Abstract

This study explores the integration of Qard Hasan with Cash Waqf (QHCW) as a funding source to support microfinancing for the B40 and M40 income groups in Malaysia. The research attempts a mixed-method approach, combining qualitative interviews with quantitative surveys to gather comprehensive data from Islamic bank customers and practitioners. Findings suggest that a well-structured QHCW model focusing on the net proceeds can enhance financial inclusion and economic resilience, particularly in the post-COVID-19 recovery phase.

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