FatwaPenangZakat
PEMBIAYAAN MIKRO MENGGUNAKAN DANA ZAKAT SECARA QARD
Is it permissible for Alliance Bank to provide micro-financing from zakat funds on a qard basis to asnaf entrepreneurs?
Short answer
The Penang State Fatwa Committee ruled that micro-financing from zakat funds on a qard basis by Alliance Bank is permissible subject to conditions.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Penang State Mufti Department
- Date
- Status
- Fatwa committee decision
- Series
- Keputusan Fatwa Negeri Pulau Pinang (e-Fatwa)
- Topic
- Zakat
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The Penang State Fatwa Committee ruled that micro-financing from zakat funds on a qard basis by Alliance Bank is permissible subject to conditions. The financing must be solely for the entrepreneurial purposes of asnaf, and it must be ensured that the recipient has the potential to repay. If the asnaf entrepreneur is genuinely unable to repay and this is confirmed by the financing manager, the financing is treated as written off as zakat.
Written in our own words from the original fatwa — check the source before acting on it.
Hukum Pembiayaan Mikro Menggunakan Dana Zakat Secara al-Qard oleh Alliance Bank adalah harus dengan beberapa syarat berikut:
Read the full fatwa on the Penang website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Penang State Mufti Department. “PEMBIAYAAN MIKRO MENGGUNAKAN DANA ZAKAT SECARA QARD”, 10 September 2024. http://efatwa.penang.gov.my/fatwa_details.php?fatwaid=1674. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/micro-financing-zakat-funds-qard-basis/