Effectiveness of Islamic economic contribution post pandemic

Lubis, Delima Sari and Zein, Aliman Syahuri and Mutiah, Nur and Siregar, Nurul Qosimah and Nabila, Walidah Izzah (2022) Effectiveness of Islamic economic contribution post pandemic. Al-Masharif: Jurnal Ilmu Ekonomi dan Keislaman, 10 (2). pp. 250-262. ISSN 2356-4628

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Abstract

The corona virus pandemic-19 had a negative impact on the global economy, including Indonesia. Indonesia's economic growth is predicted to be minus 0.4%. The application of physical distancing has reduced people's economic activity, resulting in a decrease in aggregate supply, which has an impact on decreasing production. From a supply and demand perspective, Work From Home results in a decrease in the Aggregate Demand, so that production decreases. This study aims to identify the appropriate contribution of Islamic economic philanthropy in the face of a pandemic. The research concludes that there are several contributions from Islamic economic philanthropy that are effective in overcoming the pandemic. These contributions are first, optimization of the application of social finance (distribution of ZIS funds, development of waqf-based infrastructure, guidance and assistance to SMME through qardhulhasan loans). Second, the development of Islamic financial technology for online market players to comply with sharia regulations.

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