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The contributions of Islamic social financial institutions in realizing sustainable economic recovery for the muslim communities in the Philippines

Following the trends of world economies in their quest for a holistic framework and model that may contain the worst crisis that the global community is currently facing, the present study aims to show that there is an urgency for the revival of Islamic financial institutions: zakat, waqf, sadaqah,...

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Main Authors: Tagoranao, Mariam Saidano, Gamon, Alizaman Dumangcag, Tagoranao, Jolainie
Format: Article
Language:English
Published: KIRKHS IIUM 2022
Subjects:
BPH531 Zakat
Online Access:http://irep.iium.edu.my/101257/7/101257_The%20contributions%20of%20Islamic%20social%20financial%20institutions.pdf
http://irep.iium.edu.my/101257/
https://journals.iium.edu.my/al-risalah/index.php/al-risalah/article/download/368/264/636
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spelling my.iium.irep.1012572022-11-14T00:28:36Z http://irep.iium.edu.my/101257/ The contributions of Islamic social financial institutions in realizing sustainable economic recovery for the muslim communities in the Philippines Tagoranao, Mariam Saidano Gamon, Alizaman Dumangcag Tagoranao, Jolainie BPH531 Zakat Following the trends of world economies in their quest for a holistic framework and model that may contain the worst crisis that the global community is currently facing, the present study aims to show that there is an urgency for the revival of Islamic financial institutions: zakat, waqf, sadaqah, halal industry, and Islamic microfinance at the midst of a capitalistic system of economy. The purpose of the study is to re-discover the potential roles of Islamic financial institutions in securing a sustainable economic recovery that may uplift the socio-cultural and economic conditions of the Muslim communities in the Philippines. In addition, the study seeks to clarify that the economic label that describes the dormancy of Islamic social financial institutions does not stem from its sources, but rather, due to a lack of recognition on the part of the government policymakers. Although the discourse of Islamic social finance is at its nascent stage, the study, however, found out that due to an integrated approach to Islamic social finance and its proper contextualization following the Shari’ah and the Philippine laws, a score of scholars, leaders, and intelligentsia have been convinced for the revival of Islamic financial institution and its mainstreaming with the national economic system. KIRKHS IIUM 2022-07-03 Article PeerReviewed application/pdf en http://irep.iium.edu.my/101257/7/101257_The%20contributions%20of%20Islamic%20social%20financial%20institutions.pdf Tagoranao, Mariam Saidano and Gamon, Alizaman Dumangcag and Tagoranao, Jolainie (2022) The contributions of Islamic social financial institutions in realizing sustainable economic recovery for the muslim communities in the Philippines. Al Risalah Journal, 6 (1). pp. 1-21. E-ISSN 1443-2022 https://journals.iium.edu.my/al-risalah/index.php/al-risalah/article/download/368/264/636
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic BPH531 Zakat
spellingShingle BPH531 Zakat
Tagoranao, Mariam Saidano
Gamon, Alizaman Dumangcag
Tagoranao, Jolainie
The contributions of Islamic social financial institutions in realizing sustainable economic recovery for the muslim communities in the Philippines
description Following the trends of world economies in their quest for a holistic framework and model that may contain the worst crisis that the global community is currently facing, the present study aims to show that there is an urgency for the revival of Islamic financial institutions: zakat, waqf, sadaqah, halal industry, and Islamic microfinance at the midst of a capitalistic system of economy. The purpose of the study is to re-discover the potential roles of Islamic financial institutions in securing a sustainable economic recovery that may uplift the socio-cultural and economic conditions of the Muslim communities in the Philippines. In addition, the study seeks to clarify that the economic label that describes the dormancy of Islamic social financial institutions does not stem from its sources, but rather, due to a lack of recognition on the part of the government policymakers. Although the discourse of Islamic social finance is at its nascent stage, the study, however, found out that due to an integrated approach to Islamic social finance and its proper contextualization following the Shari’ah and the Philippine laws, a score of scholars, leaders, and intelligentsia have been convinced for the revival of Islamic financial institution and its mainstreaming with the national economic system.
format Article
author Tagoranao, Mariam Saidano
Gamon, Alizaman Dumangcag
Tagoranao, Jolainie
author_facet Tagoranao, Mariam Saidano
Gamon, Alizaman Dumangcag
Tagoranao, Jolainie
author_sort Tagoranao, Mariam Saidano
title The contributions of Islamic social financial institutions in realizing sustainable economic recovery for the muslim communities in the Philippines
title_short The contributions of Islamic social financial institutions in realizing sustainable economic recovery for the muslim communities in the Philippines
title_full The contributions of Islamic social financial institutions in realizing sustainable economic recovery for the muslim communities in the Philippines
title_fullStr The contributions of Islamic social financial institutions in realizing sustainable economic recovery for the muslim communities in the Philippines
title_full_unstemmed The contributions of Islamic social financial institutions in realizing sustainable economic recovery for the muslim communities in the Philippines
title_sort contributions of islamic social financial institutions in realizing sustainable economic recovery for the muslim communities in the philippines
publisher KIRKHS IIUM
publishDate 2022
url http://irep.iium.edu.my/101257/7/101257_The%20contributions%20of%20Islamic%20social%20financial%20institutions.pdf
http://irep.iium.edu.my/101257/
https://journals.iium.edu.my/al-risalah/index.php/al-risalah/article/download/368/264/636
_version_ 1751535922227183616
score 13.211869

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