Developing a Governance Framework for Islamic Social Finance Institutions

February 12, 2015 An Islamic social finance institution is essentially a non-profit or charity organization that seeks to operationalize the concepts of waqf, zakah, sadaqah and qard hasan. It has unique assets and liabilities, income and expenditure. By definition, an Islamic non-profit rules out return-seeking share capital. It creates assets through (i) waqf of “permanent”…