Efficiency of Islamic microfinance program: The case of IKSAR Qard al-Hasan

This study has two main aims. The first aim is to reveal the implementation results of IKSAR Qard al-Hasan Program, which was initiated in 2018, within two years and develop suggestions for improving the program's effectiveness. In this respect, many issues such as how the program works, to whom qard is given, characteristics of the people to whom qard has been given, what kind of problems occur in the implementation phase of the program, what has been done to eliminate these problems have been clarified.After the two years' of implementation results were revealed, the suggestions have been developed to increase the program's effectiveness based on these results. The second aim of the study is to measure effect of the qard al-hasan on people who borrowed from IKSAR. To achieve this aim, the socio-economic status of the people borrowing from IKSAR was determined before and after the disbursement. The longitudinal analysis was applied to analyse this data.The mixed-method approach was adopted in the study, and the convergent parallel mixed method design was preferred as the research design. The questionnaire, interview, observation and document analysis were used as data collection instruments. The participant of this study consisted of 41 people who borrowed from IKSAR. 80 interviews were conducted with 41 people among them 18 were semi-structured. The questionnaires were applied twice as before and after disbursement.The first questionnaires have been applied to 41 people while the second questionnaires were applied to 30 people. Thus, longitudinal analysis tests were conducted on 30 people.