Is Waqf-Based Qardhul Hassan Financing Worth it in the Time of COVID-19?

Through contemporary development in which an increased number of new COVID-19 cases had been observed since October 2020, the labour market was severely affected and encountered future uncertainties.

Folks with insufficient savings will find that the movement control order (MCO) has made their living difficult, particularly in fulfilling the basic needs of their families including foodstuffs, healthcare, and equipment for online learning, to mention some. Hence, this sparked a mental health issue sourced from the fact that individuals became excessively anxious, depressed and pressured as the situation did not get any better.

Unlike Islamic banks’ financing, Waqf-based Qardhul Hassan financing is, to a certain extent, suitable to address the welfare of individuals...