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Islamic Social Finance

In: Innovative Humanitarian Financing

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  • Maram Ahmed

    (School of Oriental and African Studies)

Abstract

In early 2017, Kenya experienced one of the worst droughts in the country’s history and at the peak of the drought, it was estimated 2.7 million people were in need of humanitarian assistance. The International Federation of the Red Cross and Red Crescent (IFRC) joined forces with the Kenya Red Cross and other aid groups to pioneer a drought-assistance program in southern Kenya. This chapter will assess the use of traditional faith-based mechanisms such as Islamic social finance tools and its increasing role in humanitarian action. This chapter will outline what the key instruments are, discuss what types of sustainable solutions they can provide and assess what the future role this traditional mode of financing can play in the humanitarian sector. Lastly, this chapter will extrapolate the lessons learned from the IFRC Drought-Assistance Program that utilized this mode of financing.

Suggested Citation

  • Maram Ahmed, 2021. "Islamic Social Finance," Palgrave Studies in Impact Finance, in: Innovative Humanitarian Financing, chapter 0, pages 101-134, Palgrave Macmillan.
    • Handle: RePEc:pal:psifcp:978-3-030-83209-4_5
    DOI: 10.1007/978-3-030-83209-4_5
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