This chapter considers the usefulness of the concept of social capital in understanding the role of religion in the promotion of social welfare and human wellbeing. It focuses on the potential merits of the concept of social capital in the process of adding new analytical insights to potential contributions of religion to social welfare and the promotion of the good society. The chapter outlines the policy context in which interest in social capital has arisen. It considers the main definition of social capital in the literature as a way of setting up the platform for more detailed discussion of the compatibility of the concept to religion. The chapter suggests that not only does the concept of social capital capture more superficial elements of religion's contribution to social welfare, but also that there might be a potential conflict of interests here. It discusses the way in which social capital and religious welfare relate to each other.