It is said that the COVID-19 pandemic has turned back the poverty clock. As such, there is a need to have social mechanisms put in place to provide relief to those who are affected in this regard. Islamic social finance consists of tools and institutions that could be used to alleviate poverty. This book explores the impact of COVID-19 on Islamic finance to better understand the effectiveness of Islamic social finance in helping those who have been affected by poverty overnight due to the halt in all major economic activities in the context of the pandemic.

Since the struggle against poverty in each country will be different, the book attempts to shed light on the experiences of different countries by presenting successful models of Islamic social finance. The book first looks at poverty and COVID-19 before delving into the role of Islamic social financial institutions and how they have risen against COVID-19. The book concludes by examining the impact of COVID-19 on Islamic microfinance.

This book is the first of its kind on the subject of COVID-19, and it intends to bridge the gap in the literature.

part I|85 pages

Poverty and COVID-19

chapter 4|18 pages

Iran and COVID-19

An alternative crisis management system based on bottom-up Islamic social finance and faith-based civic engagement

part II|81 pages

Innovation in Islamic social finance to fight against COVID-19

chapter 6|13 pages

Islamic FinTech

The digital transformation bringing sustainability to Islamic finance

chapter 9|15 pages

Adapting the Al Rajhi waqf model to mitigate the impact of COVID-19 on the ummah

A lesson to Muslim philanthropists

chapter 10|17 pages

Funding the refugee crisis in Turkey

A case for social impact sukuk

part III|74 pages

Impact of COVID-19 on Islamic microfinance

chapter 11|18 pages

COVID-19 pandemic

The Islamic social capital perspective in Baitul Maal Wat Tamwil institutions movement in Indonesia

chapter 15|14 pages

Profit-loss sharing principle

The strategic answer of solidarity in Islamic finance