Jaafar, Adnan Zikri

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2017 - 20182
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  • Publication
    An Inquiry into the Sources of Funding for Qard Hasan Based MFIs: A Case Study of Akhuwat
    (2018-01-01) Jaafar, Adnan Zikri
    In the last several years, there have been mixed views on the economic and social impacts of microfinance. To respond to some of the criticisms facing the microfinance industry, some microfinance practitioners are experimenting with new alternative lending models and management frameworks. One of these models that has recently gained increasing attention among economists and practitioners is qard hasan based microfinance. We take a close look at Akhuwat, a qard hasan based MFI offering interest-free microcredits to the poor, focusing on its sources of financing.
  • Publication
    Integrating Zakat with Development Impact Bond (DIB): Assessing Possible Approaches to Maximizing Impact from Zakat Investment
    (2017-01-01) Jaafar, Adnan Zikri
    Zakat is one of the five pillars of Islam and forms the foundation of Islamic economic system. The practice of zakat combines both the elements of ritual and revenue-raising. From zakat payers’ perspectives, paying zakat is a ritual act intended to purify their wealth. From a system of revenue-raising perspective, the main objective of zakat is to alleviate the hardships of zakat recipients, particularly the poor. We discuss the purposes of zakat and the historical development of zakat administration and management in Malaysia. We examine the current challenges and criticisms of zakat distribution and propose an integration between zakat and development impact bond as an approach to maximizing impact from zakat investment.