IEF 428 - Islamic Social Finance

This class on Islamic social finance offers an insightful exploration into the principles, practices, and applications of financial concepts deeply rooted in Islamic tradition. Delving into essential components such as Zakat, Sadaqah, Waqf, and Qard Hasan, students will gain a profound understanding of the obligations and voluntary acts of charity, as well as the mechanisms of benevolent loans and endowments in Islamic finance. Through discussions on Islamic microfinance, Takaful, and impact investing, participants will analyze how these principles are applied in modern financial systems, fostering social solidarity, ethical investment, and sustainable development. Moreover, the course delves into the realm of philanthropy management, crowdfunding, and ethical screening, offering students a holistic perspective on Islamic social finance's role in promoting economic equity and social responsibility.

3. To familiarize students with the contemporary issues on Islamic Social Finance and related institutions. 

This course will discuss the principles of Islamic Social Finance, which should be understood and applied by all Muslims daily along their life. Due to time constraint, the discussion will be limited to basic understandings of Islamic Social Finance.  The course will be continued by a discussion of some Islamic Social Financial Institutions known widely, which include: Zakat, Waqf /Awqaf, Baitul Mal, Hisbah, Masjid Fund, Hajj Fund and so forth