Integrating Social Finance Instruments (Zakat, Waqf, and Qard Hasan) into Islamic Microfinance Models for Inclusive Growth

Abstract

Study This aim For explore integration instrument finance Islamic social issues, namely zakat, waqf and qard hasan, in Islamic microfinance (IMF) for push growth economy inclusive approach in Indonesia study nature qualitative with method studies case, involving BAZNAS, BWI, and BMT institutions as informant main. Data obtained through interview in- depth analysis documents and observations field, then analyzed in a way thematic. Research results show that integration instrument this Islamic social capable create synergy strategic: productive zakat as initial capital for business micro, waqf productive as asset term supporting length​ infrastructure and capacity production, as well as qard Hasan as financing without interest for guard smoothness business and stability economy recipient benefits. Analysis through perspective Maqasid al-Shariah affirms that the integrative model This in harmony with sharia objectives, including protection wealth (hifz al-mal), protection soul (hifz al- nafs),and welfare social (maslahah). The research also identified challenges, such as limitations coordination inter-agency, capacity limited management, and restrictive regulations​ flexibility integration, as well as opportunity strategic in the form of accumulation of social funds, awareness public to Islamic finance, and progress digital technology. With professional, transparent, and inclusion oriented management, an integrative model This capable increase independence economy, expanding inclusion finance, and building economy a productive, just and sustainable people.