ABSTRACT
Islamic social finance is one of the subsections in Islamic financial system that integrates economic activities with social value. This chapter explains briefly the theoretical concept of Social Enterprise and Waqf and describes the research methodology and method involved in this research. It showcases mini case studies of BRAC, Larkin Sentral and Pondok Gontor with the focus on their establishment, governance, transparency, business model and social impact. According to BRAC, social enterprise is a self-sustaining cause-driven business entity that creates social impact by offering solutions to social challenges and reinvesting their surpluses to sustain and generate greater impact. BRAC’s social enterprises have facilitated the poor to overcome two major challenges – sustainable livelihood and market access. These major concerns, if left unattended, would hinder economic growth and social empowerment of the marginalized communities. BRAC’s model of social enterprise leverages on traditional non-profit activities with business initiatives.
