QARD ALHASSAN INSTITUTION AS A SUSTAINABLE ETHICAL FINANCING SOLUTION FOR MIDDLE­CLASS INDIVIDUALS IN MUSLIM­MAJORITY COUNTRIES

The purpose of this study is to propose a Qard Alhassan institution based on Quranic concept regarding financing and borrowing. It whereby certain group society assisted, specifically middle-class individuals, that helps them get the finance they need return what borrowed without any interest, while preserving capital lenders who will receive Hereafter reward, but goal not striving for profits though it may impose minimal fees its services. used qualitative approach. A holistic review verses, mention several financial issues such as Riba, alhassan, concludes there an urgent integrate elements Iman (believe in Allah) Akhlaq (Islamic ethics) into Islamic equation. In order find out obstacles face institution, presented analyzed case theMalaysian Hajj Corporation project (known Lembaga Tabung Haji), are similarity with proposed institution. addition, over 100 personal interviews conducted, two stages, Malaysian Arab experts academic professional aspects banking sector. conducted span 5 years (from 2018 end 2022). has new represents idea provided be implemented mentioned study’s recommendations.