Relevansi Tafsir Al-Hujurat:10 dalam Pengembangan Produk Keuangan Syariah Berbasis Social Capital di Masa Pemulihan Ekonomi

Abstract

The post-pandemic economic crisis has reignited debates over the extent to which Islamic financial institutions can fulfill their substantive socio-economic functions. This study aims to reconstruct the concept of social capital embedded in the interpretation of Surah Al-Hujurat: 10 into an applicable and resilient Islamic financial product design grounded in collective solidarity. Employing a qualitative exploratory approach within a constructivist-interpretive paradigm, the data were analyzed through social Qur'anic interpretation, a review of Islamic social finance literature, institutional analysis of Islamic economics, and empirical simulations conducted in community-based Islamic financial institutions across several regions of Indonesia. The findings reveal that the value of ukhuwah in Surah Al-Hujurat: 10 can be operationalized into six principal indicators: mutual guarantee, collective accountability, participatory governance, social monitoring, social risk-sharing, and collective moral sanction. These indicators were further developed into an Ukhuwah Contract, a hybrid financing model integrating kafālah and mudhārabah mushtarakah which positions the community as a collective monitoring mechanism, shown to reduce Non-Performing Financing ratios, increase MSME participation, and strengthen public trust. This study confirms that Qur'anic interpretation holds institutional potential to be transformed into an empirical and applicable Islamic financial framework