IMPACT OF SOCIAL MICRO FINANCE ON THE WELFARE OF THE CITY OF SURABAYA THROUGH THE CIBEST MODEL

Abstract

Social microfinance is the development of Microfinance Institutions whose main task is to provide capital and assistance to micro business actors through a revolving capital system originating from ZIS. Contracts that can be used in social microfinance are productive zakat and qardul hasan contracts. Several zakat management organizations have implemented micro-social finance programs, one of the zakat management organizations is LAZNAS Yatim Mandiri with the Bisa LAZNAS Yatim Mandiri program. The purpose of this study was to measure the success of the Can LASNAS Yatim Mandiri program by measuring it from a material and spiritual perspective. The method used in this research is descriptive quantitative with CIBEST analysis tool. The result of the research is that there are differences in welfare before receiving productive zakat maal and after receiving productive zakat maal where the level of welfare decreases from four families to 3 families.