THE ROLE OF ISLAMIC SOCIAL FINANCE TO STRENGTHEN COMMUNITY ECONOMY DEVELOPMENT IN THE COVID 19 PANDEMY

Abstract

Covid 19 Pandemy is triggered by the healthy problem which cause the healthy risk which can spread to another crisis such as financial and economy crises and also can affect social crises. Many sectors can be interrupted by the Covid 19 Pandemy, because this healthy problem need long time to make recovery in the new normal system after Covid 19 Pandemy. Government and private sector and NGO must work together to solve the problem in society which is caused by the Covid 19 pandemy, because Corona virus of Covid 19 Pandemy need more effort to solve the problem which is rising during Covid 19 Pandemy was happened. Many sectors have negative significant effect because of the Covid 19 Pandemy, which cover torism, healthcare, economy, Islamic Financial institution, Small and Medium Enterprise. Government need big budged to solve the problem which is caused by Covid 19 pandemy because this pandemy have happened in the long time. Therefore any aid from many institutions will be hope to help government to face the Covid 19 Pandemy. One of institution is Non Governement Organisation such as Zakat Institution. Zakat institution is part of Islamic Social Finance instrument which have significant role to increase the welfare of society especially which is categorized as mustahiq (zakat recipient). There are 8 asnaf (group type) from zakat recipient which cover needy, poor, gharim, amil,mualaf, riqab, ibnu sabil, fi sabilillah. Zakat institution have Community development and Community economy development program. Community economy development program from zakat institution can hep the society especially for Mustahiq to increase the welfare and increasing ability the society to continue their life at the Covid 19 Pandemy. Problem Statement in this research what is the Role of Islamic Social Finance especially zakat institution in Indonesia to Strengthen Community Economy Development in The Covid 19 Pandemy. Research Objectives is what is the Role of Islamic Social Finance especially Zakat institution in Indonesia to Strengthen Community Economy Development in The Covid 19 Pandemy. Methodology in this research use case study method from Robert K.Yin Results in this research show that economy community developmentcan increase thewelfare of mustahiq in the Covid 19 pandemy era. Conclussion in this research show that Islamic Social Finance especially zakat institution in Indonesia have significant role to Strengthen Community Economy Development in The Covid 19 Pandemy by increasing the welfare of society especially mustahiq from zakat institution in Indonesia. Research Implications is expaining that Islamic social finance which cover zakat and waqf and shadaqah have important and strategic role to increase the welfare of society.