Welcome to the official page of Global Society for Islamic Social Finance (GSISF) founded on 17th Ramadan 2024 at IIUM, headquartered in Bangladesh. GSISF is a professional platform of Bangladeshi people living across the world. This is a membership based socio-economic development society where members are taken from different professions like master’s and PhD students, Teachers, Bankers, Busines
smen, Development workers, Doctors, Engineers etc. Membership are given in three categories:
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1. Associate Member, Membership Fee, Tk. 10,000/-
3. Life Member, Membership Fee, Tk. 100,000/- and Monthly minimum Sadaqah fee, Tk. 500/-
4. Founder Member, Membership Fee, Tk. 100,000/- and Monthly minimum Sadaqah fee, Tk. 500/- (Already Closed, 25 Members registered)
Vision
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A poverty-free world where everyone will have a decent, enlightened and peaceful life. Mission
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Our mission is to educate and empower people and the communities to graduate from poverty, illiteracy, and other social and economic exploitation and injustice. We bring positive changes through economic, social and educational programs that enable men and women to have decent, enlightened and peaceful lives. Our Core Values driven by Islamic Value System
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Tawheed (Oneness of Allah) - Everything is done for the sake of Allah, ensuring sincerity and devotion. Justice (‘Adl) - Fairness in all matters—legal, social, and financial and justice applies to everyone, regardless of status or background. Mercy & Compassion (Rahmah) - Caring for the poor, orphans, and the needy. Honesty & Truthfulness (Sidq & Amanah) - applies to all dealings- business, leadership, and daily life. Patience & Perseverance (Sabr) - Sabr applies to worship, hardships, and overcoming all difficulties. Gratitude (Shukr) - Gratitude is shown through prayer, charity, and good deeds as Shukr brings more blessings. Brotherhood & Unity (Ukhuwwah) - Islam promotes unity beyond race, ethnicity, or nationality. Charity & Generosity (Ithar & Infaq) – For purification & increase of wealth and continuous rewards. Hard Work & Excellence – Striving for excellence in worship, work, personal and organizational growth. Our Services for Humanity (SFH)
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a) Research on Islamic Social Finance (ISF)
b) Da'wah & Global Outreach Program
c) Zakat, WAQF, Sadaqah and Islamic Microfinance (ZAWASIM)
Collection and disbursement among the members through FinTech for poverty alleviation, ensuring access to education, youth empowerment and enhancing sustainable agriculture. d) There will be both for-profit initiatives (FPI) and not-for-profit initiatives (NFPI). NFPI charity projects will be funded by FPI income. Our Inspiration to start GSISF
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Sahih Muslim: 1,631 No. Hadith
It was narrated from Abu Hurairah that the Messenger of Allah said:
" إِذَا مَاتَ الإِنْسَانُ انْقَطَعَ عَمَلُهُ إِلاَّ مِنْ ثَلاَثَةٍ
مِنْ صَدَقَةٍ جَارِيَةٍ
وَعِلْمٍ يُنْتَفَعُ بِهِ
وَوَلَدٍ صَالِحٍ يَدْعُو لَهُ “
"When a man dies all his good deeds come to an end except three:
(1) Ongoing Charity (Sadaqah Jari’ah)
For Example: Providing clean water, Constructing Mosques, Supporting Education, Publishing Islamic Books, Qur’an Distribution, Planting Trees, Medical Facilities & Healthcare Support, Sponsoring Orphans, Widows, Poor, Destitute, Investing in Sustainable Projects etc. (2) Beneficial Knowledge
Beneficial knowledge in Islam refers to knowledge that brings positive impact to individuals and society, aligns with Islamic teachings, and continues to benefit people over time. For example: Teaching Quran, Hadith, General Knowledge that benefits humanity, Aqeedah (Islamic beliefs) and Akhlaq (morals and ethics) etc. (3) A righteous child who prays for him
A son or daughter who makes dua (supplication) for their parents after they have passed away. This is a powerful act of ongoing reward (Sadaqah Jari’ah) because the child’s prayers continue to benefit the parents in the Hereafter. For Example: Dua for Forgiveness, Making Istighfar (Seeking Forgiveness), Giving Charity on Their Behalf , Fulfilling Unfinished Good Deeds, Continuing Their Legacy etc. In Surah Al-Maidah, the chapter 5 of the Quran, the verse number 2 tells:
وَتَعَاوَنُوا۟ عَلَى ٱلْبِرِّ وَٱلتَّقْوَىٰ ۖ وَلَا تَعَاوَنُوا۟ عَلَى ٱلْإِثْمِ وَٱلْعُدْوَٰنِ ۚ وَٱتَّقُوا۟ ٱللَّهَ ۖ
“Cooperate with one another in goodness and righteousness, and do not cooperate in sin and transgression. And be mindful of Allah.”
Helping Others in the Form of Charity
A major portion of the Quran commands us to help each other in the form of charity. We can say that charity is one of the major subjects addressed in the Quran. You can find hundreds of verses of the Quran about charity, its importance and the reward you will get for it on the Day of Judgment and in this world. In Surah Al Munafiqun, the chapter 63 of the Quran, the verse number 10 tells,
وَأَنفِقُوا۟ مِن مَّا رَزَقْنَـٰكُم مِّن قَبْلِ أَن يَأْتِىَ أَحَدَكُمُ ٱلْمَوْتُ فَيَقُولَ رَبِّ لَوْلَآ أَخَّرْتَنِىٓ إِلَىٰٓ أَجَلٍۢ قَرِيبٍۢ فَأَصَّدَّقَ وَأَكُن مِّنَ ٱلصَّـٰلِحِينَ
“And donate from what We have provided for you before death comes to one of you, and you cry, “My Lord! If only You delayed me for a short while, I would give in charity and be one of the righteous.”
The Obligation to Help Others
The Quran has not only endorsed helping others, but it has in fact commanded everyone to help others since Allah has helped him. Therefore, it is an obligation to do good to others. In Surah Al Qasas, the chapter 28 of the Quran, the verse number 77 tells,
وَأَحْسِن كَمَآ أَحْسَنَ ٱللَّهُ إِلَيْكَ
“Do Good As Allah Has Done Good to You.”
Allah is With Those Who Help Others – The Reward! The rewards for helping others are immense. Though Quran has not mentioned many rewards but the hadiths of Prophet Muhammad (Peace Be Upon Him) determine the rewards for helping others. For instance, Prophet Muhammad (Peace Be Upon Him) said, “If a person relieves a Muslim of his trouble, Allah will relieve him of his troubles on the Day of Resurrection”. However, as far as the Quran is concerned, there is one massive reward for helping others mentioned in Surah Al-Ankaboot, the chapter 29 of the Quran, the verse number 69, i-e
وَإِنَّ ٱللَّهَ لَمَعَ ٱلْمُحْسِنِينَ
“And Allah is certainly with the good-doers.”
So, what’s the bigger reward than having Allah by your side?
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Islamic Social Finance
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**Islamic Social Finance Products** are financial tools based on **Shariah principles** that aim to achieve **social justice, poverty alleviation, and economic empowerment** in a halal and ethical manner. These instruments ensure fair wealth distribution and social responsibility while prohibiting interest (**riba**) and unethical practices.
# # # **Key Islamic Social Finance Products**
# # # # **1. Zakat (Obligatory Charity)**
- A compulsory charity (2.5% of wealth) given by eligible Muslims to the poor and needy.
- Used for **poverty alleviation, education, healthcare, and debt relief**.
- Managed through **Zakat funds, institutions, or digital platforms**.
# # # # **2. Sadaqah (Voluntary Charity)**
- Optional charity given for any good cause.
- Can be **one-time donations** or **continuous giving (Sadaqah Jari’ah)**, such as building wells, mosques, or hospitals.
- Often used in **disaster relief, education, and medical aid**.
# # # # **3. Waqf (Endowment)**
- A charitable **endowment** where assets (land, buildings, money) are donated for perpetual social benefit.
- Can fund **schools, mosques, hospitals, or scholarships**.
- Modern **cash waqf** allows monetary contributions for social projects.
# # # # **4. Qard Hasan (Benevolent Loan)**
- **Interest-free loans** provided to individuals in need, helping with **education, business, or emergency needs**.
- Given without expecting financial gain, only repayment of the principal.
- Used in **microfinance, SME support, and student loans**.
# # # # **5. Islamic Microfinance**
- Provides **Shariah-compliant financing** to low-income individuals and small businesses.
- Uses models like:
- **Murabaha** (cost-plus financing for assets)
- **Musharakah & Mudarabah** (profit-sharing investments)
- **Ijarah** (leasing-based financing)
# # # # **6. Takaful (Islamic Insurance)**
- A **mutual risk-sharing** insurance system that aligns with Islamic ethics.
- Funds are pooled to cover losses for members in case of **death, accidents, or disasters**.
- Used in **health, life, and business insurance**.
# # # # **7. Sukuk (Islamic Social Bonds)**
- **Shariah-compliant investment bonds** that fund infrastructure and social development projects.
- Governments and institutions issue **Sukuk** for financing **schools, hospitals, and renewable energy**.
# # # # **8. Impact Investing in Halal Sectors**
- Investments in **social enterprises, ethical businesses, and sustainable development** that align with **Islamic principles**.
- Encourages **wealth circulation, job creation, and financial inclusion**.
# # # **How These Products Support Social Development**
✅ **Poverty Reduction** – Zakat, Sadaqah, and Microfinance empower the underprivileged.
✅ **Financial Inclusion** – Qard Hasan and Microfinance offer interest-free access to funds.
✅ **Sustainable Development** – Waqf, Sukuk, and Impact Investing fund long-term projects.
✅ **Ethical Risk Protection** – Takaful ensures fair and halal insurance coverage.
