ABSTRACT
This chapter focuses on various Islamic social finance instruments that have been deployed by Iran during the COVID-19 pandemic. During the COVID-19 pandemic, Iran has witnessed a particular utilization of family-network Qard Hasan financing. Such utilization was built on a decade of a resurgence of informal funds among family networks. Mosques were another pipeline for the circulation of Qard Hasan funds during the coronavirus pandemic in Iran. The chapter examines an alternative crisis management model that is more bottom-up, citizen-centred, and collaborative. It argues that non-financial civic engagement is a necessity alongside Islamic social finance at the time of such large-scale crises when insufficient professional human resources are available. The Iranian people showed the application of a diverse array of Islamic social finance instruments in this pandemic. Some of them have been highlighted before in the literature, including the role of charities and non-governmental organizations, and dedicating Zakat, Khums, Qard Hasan, and Sadaqat to the victims of natural disasters.
