Actualization of Islamic Social Finance During Disasters: The Covid-19 Pandemic'`S Lessons In Indonesia
DOI:
https://doi.org/10.54471/iqtishoduna.v12i2.2469Keywords:
islamic social finance, covid-19, disasterAbstract
The COVID-19 pandemic is the best opportunity for applying Islamic social finance. The government’s limitations in tackling the impact of COVID-19 raise the participation of the Muslim community significantly. Applying Islamic social finance during COVID-19 taught us its effectiveness in dealing with disasters, especially in disaster-prone countries like Indonesia. This research combines normative and empirical aspects. The normative study is sourced primarily from the Qur'an, hadith, and scholarly ijtihad. The empirical study searches for empirical practices regarding Islamic social finance development in Indonesia. The study show that Islamic social finance practice in Indonesia during the COVID-19 has reflected a unique and rich actualization in terms of its basis, characteristics, varieties, and purposes; such as social investment, revolving assistance, exemption of tuition fees, and shadaqah of production tools. The community partnership patterns show that it has great potential to support the state's role in dealing with the disasters’ impact.
Downloads
References
Abdel Fattah, I. A. 2019. “Ru`ya Mustaqbaliyah li Daur al-Waqf al-Khairi fi Tamwili al-Ta`lim al-`Ali fi Mishr fi Dlau`i Tajarubi ba`dli al-Jamiat”. Majallah Kulliyah Al-Tarbiyah Jamiah Bani Suwaif, 16(87–2), 1–51. https://doi.org/10.21608/JFE.2019.129808
Abdel Mohsin, M. I. 2013. “Financing Through Cash-Waqf: A Revitalization to Finance Different Needs”. International Journal of Islamic and Middle Eastern Finance and Management, 6(4), 304–321. https://doi.org/10.1108/IMEFM-08-2013-0094
AbdulKareem, I. A., Mahmud, M. S. bin, Elaigwu, M., & Ganiyy, A. F. A. 2021. Mitigating the Effect of Covid-19 on the Society Through the Islamic Social Finance. The Journal of Management Theory and Practice (JMTP), 2(1), 57–61. https://doi.org/10.37231/JMTP.2021.2.1.83
Ahmad, R. al-S. 2018. Al-Maqashid al-Syar`iyyah li Nidham al-Zakat. Majallah Jami`ah Al-Quds Al-Maftuhah Li Al-Buhuts Al-Insaniyah Wa Al-Ijtima`iyyah, 1(46), 26–36. https://doi.org/10.5281/zenodo.1477554
Ahmadan, D. 2020. Keuangan Sosial Islam dalam Menghadapi Wabah Covid-19. Jurnal La Riba: Jurnal Perbankan Syariah, 1(02), 1–15. http://e-jurnal.stitqi.ac.id/index.php/lariba/article/view/50
Al-Baar, B. M. 2020. Mauqif al-Qur`aniyyin min al-Sunnah al-Nabawiyah ka Mashdar min Mashadir al-Din al-Islami. Majalla Kulliya Al-Syariah Wa Al-Qanun Bi Tafahna Al-Asyraf, 22(5), 4107–4130. https://doi.org/10.21608/JFSLT.2020.130368
Al-Daligan, I. M. 2019. “Isham Muassasat al-Amal al-Khairi al-Mustadamati fi Iqamati al-Maqashid al-Syariah al-Islamiyah. In A.-L. al-`Ilmiyah li Al-Mu`tamar (Ed.)“. Buhuts Mu`tamar al-Amal al-Khairi-Maqashiduhu wa Qawaiduhu wa Tathbiqatuha-V (pp. 279–319). Umm Qura University. https://dawa.center/file/3899
Al-Jami, S. M. Z. 2022. The Objective Interpretation is a Theoretical Study. Majallah Kulliyah Al-Dirasat Al-Islamiyah Wa Al-`Arabiyah Li Al-Banat Bi Kafr Al-Syekh-Al Azhar University, 6(1), 135–160. https://doi.org/10.21608/FICA.2022.256183
Al-Kassab, H. 2017. The Discourse of “Taklif” (Religious Duty Assignment): from the Narrowness of Maqasid of Shari’ah to the Open Horizions of the Qur’anic Intents. Al-Fikru Al-Islami Al-Mu`ashir, 23(89), 39–11. https://doi.org/10.35632/IOKJ.V23I89.465
Al-Najjar, T. A. I. 2002. “Al-Mudlarabah al-Musytarakah wa madaa Tathbiqatuha fi al-Masharif al-Islamiyah fi Falisthin” Al-Jaami`ah al-Islamiyah-Gaza. https://iugspace.iugaza.edu.ps/handle/20.500.12358/22214
Al-Qaradhawi, Y. 2008. “Ushul al-Amal al-Khairi fi al-Islam fi Dlau`i al-Nushush wa al-Maqashid al-Syar`iyyah (II)”. Dar al-Shooroq. https://khair.ws/library/6535/
Al-Zuwainy, A. F. 2019. Al-Amal al-Khairi wa Atsaruhu fi al-Ishlah al-Nafsi wa al-Tarbawi. Buhuts Mu`tamar Al-Amal Al-Khairi-Maqashiduhu Wa Qawaiduhu Wa Tathbiqatuha-II, 555–627. https://dawa.center/file/3899
Ascarya, A. 2021. The Role of Islamic Social Finance During Covid-19 Pandemic in Indonesia’s Economic Recovery. International Journal of Islamic and Middle Eastern Finance and Management, 15(2), 386–405. https://doi.org/10.1108/IMEFM-07-2020-0351
Awang, S. A., Muhammad, F., Borhan, J. T., & Mohamad, M. T. 2017. The Concept of Charity in Islam: An Analysis on the Verses of Quran and Hadith. Journal of Usuluddin, 45(1), 141–172. https://doi.org/10.22452/usuluddin.vol45no1.6
Bistiana, M., & Indrarini, R. 2021. Peran BMT Mandiri Artha Syariah dalam Pemberdayaan UMKM di Kabupaten Bojonegoro pada Masa Pandemi Covid-19. Jurnal Ekonomika Dan Bisnis Islam, 4(2), 85–97. https://journal.unesa.ac.id/index.php/jei
Chen, J., Chen, T. H. Y., Vertinsky, I., Yumagulova, L., & Park, C. 2013. “Public-Private Partnerships for the Development of Disaster Resilient Communities”. Journal of Contingencies and Crisis Management, 21(3), 130–143. https://doi.org/10.1111/1468-5973.12021
Djalaluddin, A., & Mumpuni, D. 2020. “Riba Versus Sedekah sebagai Konsideran Tazkiyah Akuntansi dan Bisnis”. Jurnal Akuntansi Multiparadigma, 11(3), 450–478. https://doi.org/10.21776/UB.JAMAL.2020.11.3.27
Furqani, H. 2018. “Defining Islamic Economics: Scholars’ Approach, Clarifying The Nature, Scope and Subject-Matter of The Discipline”. Turkish Journal of Islamic Economics-TUJISE, 5(2), 69–94. https://doi.org/10.26414/m025
Ghaits, M. A. M. 2016. “Atsaru al-dawafi` al-Aqdiyah wa al-Akhlaqiyah fi Tahqiqi al-Rafahiyah al-Ijtima`iyyah wa al-Iqtishadiyah fi al-Iqtishad al-Islami”. Majallah Al-Urduniyah Fi Al-Dirasat Al-Islamiyah, 12(1), 427–455. http://repository.aabu.edu.jo/jspui/handle/123456789/1020
Habjer, A. H. M. 2018. Qawaid al-Tafadlul fi Baramij al-Amali al-Khairi. Hauliyah Kulliyah Al-DIrasat Al-Islamiyah Wa Al-Arabiyah Li Al-Banat Bi Al-Iskandariyah, 34(5), 763–808. https://doi.org/10.21608/bfda.2018.26996
Hafizah, G. D. 2021. Peran Ekonomi dan Keuangan Syariah pada Masa Pandemi Covid-19. LIKUID: Jurnal Ekonomi Industri Halal, 1(1), 55–64. https://doi.org/10.15575/LIKUID.V1I1.12733
Helli, A. 2017. “Mafhum al-Birri wa al-Mandhumatu al-Akhlaqiyyatu al-Qur`aniyyatu: Al-Binyah wa al-Siyaq”. Journal of Islamic Ethics, 1, 122–157. https://doi.org/10.1163/24685542-12340006
Herdiansyah, Hidayanti, S., & Ridwan, M. 2022. “Ijtihad Kontemporer Perspektif Yusuf Al-Qardhawi (Studi Kitab al-Ijtihad fi asy-Syari’ah al-Islamiyyah)”. Jurnal Indragiri Penelitian Multidisiplin, 2(2), 98–103.
Hoque, N., Khan, M. A., & Mohammad, K. D. 2015. “Poverty Alleviation by Zakah in a Transitional Economy: A Small Business Entrepreneurial Framework”. Journal of Global Entrepreneurship Research, 5(7), 1–20. https://doi.org/10.1186/s40497-015-0025-8
Htay, S. N. N., Salman, S. A., & Myint, S. 2014. “Integrating Zakat, Waqf and Sadaqah: Myint Myat Phu Zin Clinic Model in Myanmar.” Tazkia Islamic Finance and Business Review, 8(2), 170–186. https://doi.org/10.30993/TIFBR.V8I2.68
Ibrahim, P., Muridan, M., Ali, M., & Mohd Jazid, A. I. 2020. “Revisiting Zakat Distribution on Income Inequality and Welfare: The Malaysia Experience”. Al-Uqud: Journal of Islamic Economics: Journal of Islamic Economics, 4(1), 146–161. https://doi.org/10.26740/al-uqud.v4n1.p146-161
Ida, O., Putu, B., & Suadnyana, E. 2018. “Kajian Nilai Pendidikan Agama Hindu dalam Konsep Manyama Braya.” Jurnal Pasupati, 5(1), 48–60. http://ojs.stahdnj.ac.id/index.php/pasupati/article/view/128
Iskandar, A., Possumah, B. T., & Aqbar, K. 2020. “Peran Ekonomi dan Keuangan Sosial Islam saat Pandemi Covid-19”. SALAM: Jurnal Sosial Dan Budaya Syar-I, 7(7), 625–638. https://doi.org/10.15408/sjsbs.v7i7.15544
Kattan, M. I. 2020. “Pandemics and Their Effect on Financial Transactions”. Avrasya Sosyal ve Ekonomi Araştırmaları Dergisi-Eurasian Journal of Researches in Social and Economics, 7(11), 200–213. https://dergipark.org.tr/en/download/article-file/1335298
Khan, M. A. 2018. “Methodology of Islamic Economics From Islamic Teachings to Islamic Economics 1”. TUJISE-Turkish Journal of Islamic Economics, 5(1), 35–61. https://doi.org/10.26414/tujise.2018.5.1
Khusnia, S., & Hamzah, I. R. 2022. “Analisis Kontribusi Filantropi Islam terhadap Kesejahteraan Mustahik di Tengah Pandemi Covid-19 Perspektif Maqashid Syariah (Study Kasus BAZNAS Kota Kediri).” Adl Islamic Economic, 3(1), 27–42. https://doi.org/https://doi.org/10.56644/adl.v3i1.37
Latief, H. 2013. “Agama dan Pelayanan Sosial”: Interpretasi dan Aksi Filantropi dalam Tradisi Muslim dan Kristen di Indonesia. Religi, IX(2), 174–189.
Linge, A. 2017. Filantropi Islam sebagai Instrumen Keadilan Ekonomi. JURNAL PERSPEKTIF EKONOMI DARUSSALAM, 1(2), 154–171. https://doi.org/10.24815/jped.v1i2.6551
Mahdi, M. S. J. 2012. Al-Amal al-Khairi Dirasah Ta`shiliyah Tarikhiyah. Journal of Surra Man Raa, 8(30), 211–230. https://www.iasj.net/iasj/article/47386
Moshir, A. 2007. Taqrib Mu`jam Mushthalahat al-Fiqh al-Maliki (I). Dar Al-Kotob Al-Ilmiyah.
Muary, R., Pujiati, P., & Ismail, R. 2017. “Gerakan Sosial Budha Tzu Chi Pasca Reformasi di Kota Medan”. Masyarakat, Kebudayaan Dan Politik, 30(3), 248–259. https://doi.org/10.20473/mkp.v30i32017.248-259
Najmudin, N., Syihabudin, S., Fatoni, A., & Saleh, S. 2021. “Pendayagunaan Zakat Produktif BAZNAS Kabupaten Serang dalam Pemberdayaan Ekonomi Usaha Mikro Kecil (UMK) di Masa Pandemi Covid 19”. Mizan: Journal of Islamic Law, 5(2), 223–236. https://doi.org/10.32507/MIZAN.V5I2.965
Nasar, M. F. 2017. Signifikansi Zakat dan Wakaf sebagai Sektor Sosial Keuangan Islam. Jurnal Bimas Islam, 10(4), 621–638. https://doi.org/10.37302/JBI.V10I4.37
Park, J., & Chung, E. 2021. “Learning from Past Pandemic Governance: Early Response and Public-Private Partnerships in testing of COVID-19 in South Korea”. World Development, 137, 105198. https://doi.org/10.1016/j.worlddev.2020.105198
Prawoto, N., Purnomo, E. P., & Az Zahra, A. 2020. “The Impacts of Covid-19 Pandemic on Socio-Economic Mobility in Indonesia”. IJEBA-International Journal of Economics and Business Administration, 8(3), 57–71. https://www.um.edu.mt/library/oar/handle/123456789/62934
Qurthuby, M. A. A. 1996. Al-Jami` li Ahkam Al-Qur`an. In 3 (5th ed., pp. 225–234). Dar al- Syuruq.
Rahim, S., & Mohammed, M. O. 2018. Operationalizing Distributive Justice from the Perspective of Islamic Economics. International Journal of Economics, Management and Accounting, 26(2), 415–442. https://journals.iium.edu.my/enmjournal/index.php/enmj/article/view/431
Rahmooni, F. 2015. Al-Waqf al-Islami: Majaal Wasi` li a-Ibda` al-Tanmawi. International Islamic Marketing Association Journal, 4(2), 63–71. https://doi.org/10.12816/0010437
Rizal, F., & Mukaromah, H. 2021. Filantropi Islam Solusi atas Masalah Kemiskinan Akibat Pandemi Covid-19. Al-Manhaj: Jurnal Hukum Dan Pranata Sosial Islam, 3(1), 35–66. https://doi.org/10.37680/ALMANHAJ.V3I1.631
Seddighi, H., Seddighi, S., Salmani, I., Mehrab, ;, & Sedeh, S. (2020). Public-Private-People Partnerships (4P) for Improving the Response to COVID-19 in Iran. Disaster Medicine and Public Health Preparedness, 15(1), e44–e49. https://doi.org/10.1017/dmp.2020.202
Shadr, Mu. B. 1987. Iqtishaduna (20th ed.). Dar al Ta`aruf li al Mathbu`at.
Suryahadi, A., Al Izzati, R., & Suryadarma, D. 2020. Estimating the Impact of Covid-19 on Poverty in Indonesia. Bulletin of Indonesian Economic Studies, 56(2), 175–192. https://doi.org/10.1080/00074918.2020.1779390
Syed, M. H., Khan, S., Rabbani, M. R., & Thalassinos, Y. E. 2020. An Artificial Intelligence and NLP Based Islamic FinTech Model Combining Zakat and Qardh-Al-Hasan for Countering the Adverse Impact of COVID 19 on SMEs and Individuals. International Journal of Economics and Business Administration Volume, 8(2), 351–364. https://www.um.edu.mt/library/oar/handle/123456789/55858
Umar, U. H., Baita, A. J., Harashid, M., Haron, B., & Kabiru, S. H. 2022. The Potential of Islamic Social Finance to Alleviate Poverty in The Era Of COVID-19: The Moderating Effect of Ethical Orientation Moderating Effect of Ethical Orientation. International Journal of Islamic and Middle Eastern Finance and Management, 15(2), 255–270. https://doi.org/10.1108/IMEFM-07-2020-0371
Widiantana, I. K., & A. A. Diah Indrayani. 2020. Punia dalam Teks Peparikan Nilacandra. Kalangwan Jurnal Pendidikan Agama, Bahasa Dan Sastra, 10(2), 93–183. http://ejournal.ihdn.ac.id/index.php/Kalangwan
Yulinartati, Yuliarti, N. C., & Nuha, G. A. 2021. Pengelolaan Dana Zakat, Infaq, Shadaqah Produktif Melalui Linkage Program pada Era Pandemi Covid-19 (Studi Kasus pada BAZNAS Kabupaten Jember). 4th Prosiding Business and Economics Conference In Utilizing of Modern Technology, 51–58. http://journal.unimma.ac.id/index.php/conference/article/view/5803/2634
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Ahmad, Kholilah Kolilah, Nevi Danila, Sri Andriani

This work is licensed under a Creative Commons Attribution 4.0 International License.
The journal can be accessed publicly, which means that all content is provided freely accessible without charge to either the user or the institution. Users are allowed to read, download, copy, distribute, print, search, or cite to the full text of the article did not have to ask permission from the publisher or author.