This is Volume 1 of the 5 volumes’ book featuring selected papers in English presented to the 10th International Conference on Islamic Economics and Finance, held in March 2015, Doha, Qatar.
Islamic social finance role is significant in community development through its various services such as zakat, awqaf, cooperative and not-for-profit microfinance. The purpose is to meet the needs of the poor and to make a dent on their ever-rising levels of poverty. The global impact of Islamic social finance can be tremendous simply because of the penetration it can exhibit in all levels of economic structures. Combined with the powerful tool of zakat, awqaf, cooperative and not-for-profit microfinance crowdfunding can be implemented as an instrument of social welfare and community development. Crowdfunding based on the principles of Shari‘ah and humanity has the potential to penetrate segments at all levels of the economic activity, provided it is administered and supported by all the classes of people by both the financial sectors of Islamic finance. The book contains a total of 12 carefully written chapters that have gone through a thorough peer review process. These chapters are grouped into three parts. Part I is on ‘Socio-economic inclusion in Muslim societies’. Part II deals with the ‘Islamic banking, development, and socially responsible finance’. Part III discusses about ‘Product development’. And the final Part (IV) provides case studies to further show a clear on-ground picture.
