Islamic Social Finance and Humanitarian Assistance

Islamic social finance refers to the provision of financial services to vulnerable members of society in a manner that follows Islamic law so as to promote socio-economic welfare. Islamic social finance includes different forms of financial instruments including philanthropy, Islamic taxation and mandatory payments, voluntary donations, cooperation through loans, and for-profit and not-for-profit endeavors in socially-oriented venture capitalism. To meet the acute need for aid, Islamic social finance is an untapped and promising avenue, which has gained more attention in recent years and prompted some important action.