2025 10(2)

DECEMBER 2025

Microcredit Berasaskan Dana Wakaf Tunai

Microcredit Based on Cash Waqf Funds

Mohammad Zaini Yahaya, zainiyahya@ukm.edu.my 
Amir Fazlim Jusoh@Yusoff
Muhammad Adib Samsudin
Research Centre for Sharia, Faculty of Islamic Studies, Universiti Kebangsaan Malaysia

Received: Sept 12, 2025 | Revised: Sept 22, 2025 | Accepted: Oct 25, 2025 | Published: Dec 15, 2025

2025, Vol. 10(2), pp. 71-82  |  PDF
DOI: https://doi.org/10.26475/jcil.2025.10.2.08

Microcredit merupakan satu instrumen untuk membantu golongan yang kurang berkemampuan bagi meningkatkan taraf hidup mereka. China sebagai contoh telah berjaya muncul negara membangun pertama di dunia yang dapat mengurangkan kadar kemiskinan dunia sebanyak 70%. Namun, untuk mengupayakan penawaran microcredit, sesebuah organisasi yang terlibat memerlukan sumber yang kukuh. Antara sumber yang dikenalpasti ialah dana wakaf tunai. Wakaf lebih bersifat fleksibel berbandding zakat, namun ia juga memiliki batasan yang membezakannya daripada sedekah biasa. Kertas kerja ini bertujuan untuk melakukan kajian ekplorasi terhadap wakaf tunai terutama dari sudut hukum hakam fiqh dari sudut persyaratan pengekalan (ta’bid) aset wakaf tunai. Turut dianalisis konsep hutang tanpa faedah (al-qarḍ alhasan) sebagai mekanisma pelaksanaan microcredit yang mempunyai risiko kegagalan pelunasan hutang. Kajian menggunakan kaedah kualitatif secara analisis dokumen terhadap kitab-kitab muktabar empat mazhab, buku dan artikel jurnal. Hasil kajian mendapati microcredit berasaskan dana wakaf tunai boleh dilaksanakan dengan mengunapakai akad hutang tanpa faedah (al-qarḍ al-hasan). Namun langkah-langkah sekuriti dalam penawaran perlu diambil berdasarkan keperluan sama ada melalui gadaian (al-rahn), potongan gaji, jaminan (kafalah) dan pelaburan aset wakaf tunai dalam nisbah yang tertentu dan digunakan hasil keuntungan untuk menampung kekurangan akibat kegagalan pembayaran balik hutang.

KATA KUNCI
Microcredit, wakaf tunai, al-qarḍ al-hasan, ta’bid, pembasmian kemiskinan

Microcredit is an instrument to assist the underprivileged in improving their standard of living. China, for example, has successfully emerged as the first developing country in the world to reduce the global poverty rate by 70%. However, to enable the provision of microcredit, the organizations involved require a strong source of funding. Among the identified sources is cash waqf funds. Waqf is more flexible compared to zakat, yet it also has limitations that distinguish it from ordinary charity. This paper aims to conduct an exploratory study on cash waqf, particularly from the perspective of fiqh rulings regarding the requirement of perpetuity (ta’bid) of cash waqf assets. The concept of interest-free loans (al-qarḍ al-ḥasan) as a mechanism for implementing microcredit that carries the risk of loan default is also analyzed. The study employs a qualitative method through document analysis of authoritative books from the four madhhabs, books, and journal articles. The findings reveal that microcredit based on cash waqf funds can be implemented using the interest-free loan contract (al-qarḍ al-ḥasan). However, security measures in the provision must be taken based on necessity, either through collateral (al-rahn), salary deduction, guarantee (kafalah), and investment of cash waqf assets in a certain proportion, with the profits used to cover shortfalls due to loan repayment failures.

KEYWORDS
microcredit, cash waqf, al-qarḍ al-ḥasan, ta’bid, poverty alleviation

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