Women's Economic Empowerment through Islamic Microfinance: A Maqasid al-Shariah Perspective in Post-Pandemic Economies
Keywords:
Islamic Microfinance, Women's Economic Empowerment, Maqasid Al-Shariah, Post-Pandemic Economy, Ethical FinanceAbstract
This study explores the role of Islamic Microfinance (IMF) in promoting women's economic empowerment within the framework of Maqasid al-Shariah in post-pandemic economies. Using a qualitative case study approach, data were collected through in-depth interviews, participant observations, and document analysis involving women beneficiaries of Islamic microfinance institutions. The findings reveal that the IMF plays a multidimensional role that goes beyond providing financial capital. It functions as a medium of spiritual, social, and economic transformation that aligns with the higher objectives of Islamic law. Through principles such as hifz al-din (protection of faith), hifz al- nafs (protection of life), hifz al- 'aql (protection of intellect), hifz al- nasl (protection of lineage), and hifz al-mal (protection of wealth), the IMF empowers women to regain economic stability, enhance financial literacy, and strengthen their family and community roles. Moreover, the IMF fosters ethical entrepreneurship, self-reliance, and spiritual awareness, promoting a balance between material well-being and moral integrity. The study concludes that Islamic microfinance represents a strategic instrument in building inclusive and just economic systems, particularly in revitalizing women's livelihoods after the COVID-19 crisis. It also underscores the significance of integrating Maqasid al-Shariah principles into Islamic financial models to ensure sustainable, value-based empowerment and holistic human development.
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