Introduction

One of the hallmarks of Islam is the prominence of social finance. The early revelation is categoric and clear on two elements: duty to Allah and duty to people. The Qur’an describes the peril of the people in the Hereafter and gives two primary causes:

“For he did not believe in Almighty Allah, he never encouraged feeding the hungry.” [Qur’an 69:33-34]

It is no of surprise then that there are several forms of social finance instruments in the portfolio of Islam. These include Qard, Zakat, Waqf, Sadaqa, Islamic Microfinance among others.