Our Services

Islamic Social Finance

Islamic Social Finance

Islamic Social Finance

Helping institutions unlock the catalytic potential of zakat, waqf, and Islamic social capital through clearer strategy, stronger structures, and effective delivery

Helping institutions unlock the catalytic potential of zakat, waqf, and Islamic social capital through clearer strategy, stronger structures, and effective delivery

OUR PURPOSE

We exist to build what's missing

We exist to build what's missing

Islamic social capital — zakat, waqf, sadaqah — carries the potential to reshape economies and lift communities out of poverty. Across more than sixty countries, the waqf sector alone holds centuries of accumulated giving: land, hospitals, schools, prime urban real estate — donated permanently for communities that depend on it. The problem is not the scale of what has been given. It is the scale of what has been left unused. Most of it generates far less than it should.

We exist to build what's missing. Not because the capital is missing — it isn't — but because the governance, structures, and strategies needed to activate it are. That is the work Dunecrest does.

WHAT WE DO

How we activate Islamic social capital

How we activate Islamic social capital

We intervene where Islamic social capital risks remaining idle, fragmented, or sub-optimally deployed across three connected capabilities that carry an institution from strategy to self-reliance.

01

Strategy, Policy & Governance

Designing the institutional architecture that allows Islamic social capital to function at scale — operating models, governance frameworks, and national-level policy design for ministries, waqf bodies, zakat authorities, and social finance institutions

02

Operationalizing Islamic Social Capital

Translating zakat, waqf, and sadaqah from latent assets into deployed capital — instrument design, product structuring, and the execution support that moves capital from intent to measurable impact on the ground.

03

Capacity Building & Knowledge Transfer

Embedding the strategic, technical, and Shariah-aligned capabilities institutions need to lead independently — so when an engagement ends, the institution is stronger, not more dependent.

HOW WE WORK

A structured process from diagnosis to sustained impact

Every engagement moves through the same four stages so strategy never stalls at the slide deck, and results outlast our involvement.

01

Diagnose

Understand the institutional context, identify deployment gaps, and define the scope of Islamic social capital opportunity

02

Design

Architect strategies, frameworks, and product structures tailored to Shariah principles, stakeholder needs, and development goals

03

Deploy

Deliver implementation support, capacity building, and program management — bridging strategy and ground-level execution

04

Sustain

Embed impact measurement, governance systems, and knowledge transfer so results outlast the engagement

HOW WE WORK

A structured process from diagnosis to sustained impact

Every engagement moves through the same four stages so strategy never stalls at the slide deck, and results outlast our involvement.

01

Diagnose

Understand the institutional context, identify deployment gaps, and define the scope of Islamic social capital opportunity

02

Design

Architect strategies, frameworks, and product structures tailored to Shariah principles, stakeholder needs, and development goals

03

Deploy

Deliver implementation support, capacity building, and program management — bridging strategy and ground-level execution

04

Sustain

Embed impact measurement, governance systems, and knowledge transfer so results outlast the engagement

HOW WE WORK

A structured process from diagnosis to sustained impact

Every engagement moves through the same four stages so strategy never stalls at the slide deck, and results outlast our involvement.

01

Diagnose

Understand the institutional context, identify deployment gaps, and define the scope of Islamic social capital opportunity

02

Design

Architect strategies, frameworks, and product structures tailored to Shariah principles, stakeholder needs, and development goals

03

Deploy

Deliver implementation support, capacity building, and program management — bridging strategy and ground-level execution

04

Sustain

Embed impact measurement, governance systems, and knowledge transfer so results outlast the engagement

WHO WE WORK WITH

We support institutions shaping Islamic social finance at scale

We support institutions shaping Islamic social finance at scale

From national authorities to grassroots organisations, we meet institutions at whatever stage of the Islamic social finance journey they're on.

Public & Development Institutions

WHEN INSTITUTIONS NEED TO:

Design national ISF strategies and frameworks

Structure zakat, waqf, and social finance authorities

Strengthen social and development banks

Financial Institutions

WHEN ORGANIZATIONS REQUIRE:

Islamic bank and window product innovation

Cooperative and takaful model design

Impact investment fund structuring

Social Economy Organizations

WHEN ORGANIZATIONS NEED TO:

Scale impact across NPOs, NGOs, and charities

Build social enterprises and cooperatives

Strengthen corporate CSR and ESG programs

RELATED PROJECTS

Dunecrest at work

Dunecrest at work

Most advisory in Islamic social finance specialises exclusively Shariah or strategy, never both. Dunecrest is built differently

Most advisory in Islamic social finance specialises exclusively Shariah or strategy, never both. Dunecrest is built differently

PUBLICATIONS

Research that shapes the field

Research that shapes the field

Our research sets the agenda as often as it follows it — framing the questions the sector hasn't asked yet, from cross-border awqaf frameworks to the governance models that make Islamic social capital work in practice.

Dunecrest publishes peer-level research, frameworks, and field perspectives across the Islamic social finance landscape. Explore the full collection below.

PARTNERSHIPS & ALLIANCES

Selected partnerships and alliances

Selected partnerships and alliances

We work alongside a global network of institutions, academics, and practitioners who extend our reach and sharpen our thinking.

  • Global Partner

  • Social Impact Network

  • Civic Futures

  • Development Forum

  • Strategic Alliance

  • Alliance One

  • Global Partner

  • Social Impact Network

  • Civic Futures

  • Development Forum

  • Strategic Alliance

  • Alliance One

OUR EXPERTS

Academic rigour. Practitioner depth. Rare in one team.

Academic rigour. Practitioner depth. Rare in one team.

A multidisciplinary team of PhDs, certified Islamic finance professionals, and senior practitioners spanning Shariah law, Waqf, strategy, and governance across four continents

A multidisciplinary team of PhDs, certified Islamic finance professionals, and senior practitioners spanning Shariah law, Waqf, strategy, and governance across four continents

PRACTICE LEAD · ISLAMIC SOCIAL FINANCE

Hoji Mirzakulov

Founder, HM Research Group · MBA Candidate, Asia School of Business (MIT Sloan Global Program)

Islamic finance practitioner and seasoned strategy consultant advising corporate and institutional leaders on strategic change, framework design, and enterprise transformation across MENA, Europe, APAC, and North America. His project experience spans Islamic social finance (Waqf, Qard Hasan) to commercial instruments (Sukuk structuring), including a research collaboration with Deloitte Middle East. Previously led a business unit at Frost & Sullivan with full P&L ownership across the Middle East and Europe.

Supported by a multidisciplinary team across waqf advisory, Shariah and Awqaf law, and social innovation.

PRACTICE LEAD · ISLAMIC SOCIAL FINANCE

Hoji Mirzakulov

Founder, HM Research Group · MBA Candidate, Asia School of Business (MIT Sloan Global Program)

Islamic finance practitioner and seasoned strategy consultant advising corporate and institutional leaders on strategic change, framework design, and enterprise transformation across MENA, Europe, APAC, and North America. His project experience spans Islamic social finance (Waqf, Qard Hasan) to commercial instruments (Sukuk structuring), including a research collaboration with Deloitte Middle East. Previously led a business unit at Frost & Sullivan with full P&L ownership across the Middle East and Europe.

Supported by a multidisciplinary team across waqf advisory, Shariah and Awqaf law, and social innovation.

KEEP EXPLORING

Islamic social finance rarely sits in isolation. Explore the adjacent Dunecrest practices our work most often connects to.

Socio-Economic Development

Social policy development; non-profit sector; impact modelling and studies; social impact strategy; social entrepreneurship; social innovation; impact investment

Spatial Intelligence

Urban economics and regional development; urban innovation; public policy for cities and regions; urban sustainability; climate resilience and green infrastructure

ACCEPTING PROJECTS

Sustainable Infrastructure

Green and sustainability strategy; climate finance; net-Zero decarbonisation roadmap; renewable energy strategy; ESG enablement; climate impact assessment; water management strategy

ACCEPTING PROJECTS

Healthcare Innovation

New product development; go-to-market strategy; health volunteerism strategy and initiatives; hospital operations improvement; market expansion

ACCEPTING PROJECTS

People & Teams

Capacity building; mentoring; executive coaching; acceleration and incubation programmes; complex facilitation; human capital plan; change management

KEEP EXPLORING

Related Practices

Islamic social finance rarely sits in isolation. Explore the adjacent Dunecrest practices our work most often connects to.

Socio-Economic Development

Social policy development; non-profit sector; impact modelling and studies; social impact strategy; social entrepreneurship; social innovation; impact investment

Spatial Intelligence

Urban economics and regional development; urban innovation; public policy for cities and regions; urban sustainability; climate resilience and green infrastructure

ACCEPTING PROJECTS

Sustainable Infrastructure

Green and sustainability strategy; climate finance; net-Zero decarbonisation roadmap; renewable energy strategy; ESG enablement; climate impact assessment; water management strategy

ACCEPTING PROJECTS

Healthcare Innovation

New product development; go-to-market strategy; health volunteerism strategy and initiatives; hospital operations improvement; market expansion

ACCEPTING PROJECTS

People & Teams

Capacity building; mentoring; executive coaching; acceleration and incubation programmes; complex facilitation; human capital plan; change management

KEEP EXPLORING

Related Practices

Islamic social finance rarely sits in isolation. Explore the adjacent Dunecrest practices our work most often connects to.

Socio-Economic Development

Social policy development; non-profit sector; impact modelling and studies; social impact strategy; social entrepreneurship; social innovation; impact investment

Spatial Intelligence

Urban economics and regional development; urban innovation; public policy for cities and regions; urban sustainability; climate resilience and green infrastructure

ACCEPTING PROJECTS

Sustainable Infrastructure

Green and sustainability strategy; climate finance; net-Zero decarbonisation roadmap; renewable energy strategy; ESG enablement; climate impact assessment; water management strategy

ACCEPTING PROJECTS

Healthcare Innovation

New product development; go-to-market strategy; health volunteerism strategy and initiatives; hospital operations improvement; market expansion

ACCEPTING PROJECTS

People & Teams

Capacity building; mentoring; executive coaching; acceleration and incubation programmes; complex facilitation; human capital plan; change management
Ethical capital. Structured impact. Sustainable communities.

Strategic Islamic finance for inclusive and sustainable growth.
Smart policies. Strong systems. Lasting impact.

We help structure as a long-term investment in people and outcomes.
Architectural Excellence

KEEP EXPLORING

Related Practices

Islamic social finance rarely sits in isolation. Explore the adjacent Dunecrest practices our work most often connects to.

Socio-Economic Development

Social policy development; non-profit sector; impact modelling and studies; social impact strategy; social entrepreneurship; social innovation; impact investment

Spatial Intelligence

Urban economics and regional development; urban innovation; public policy for cities and regions; urban sustainability; climate resilience and green infrastructure

ACCEPTING PROJECTS

Sustainable Infrastructure

Green and sustainability strategy; climate finance; net-Zero decarbonisation roadmap; renewable energy strategy; ESG enablement; climate impact assessment; water management strategy

ACCEPTING PROJECTS

Healthcare Innovation

New product development; go-to-market strategy; health volunteerism strategy and initiatives; hospital operations improvement; market expansion

ACCEPTING PROJECTS

People & Teams

Capacity building; mentoring; executive coaching; acceleration and incubation programmes; complex facilitation; human capital plan; change management

KEEP EXPLORING

Related Practices

Islamic social finance rarely sits in isolation. Explore the adjacent Dunecrest practices our work most often connects to.

Socio-Economic Development

Social policy development; non-profit sector; impact modelling and studies; social impact strategy; social entrepreneurship; social innovation; impact investment

Spatial Intelligence

Urban economics and regional development; urban innovation; public policy for cities and regions; urban sustainability; climate resilience and green infrastructure

ACCEPTING PROJECTS

Sustainable Infrastructure

Green and sustainability strategy; climate finance; net-Zero decarbonisation roadmap; renewable energy strategy; ESG enablement; climate impact assessment; water management strategy

ACCEPTING PROJECTS

Healthcare Innovation

New product development; go-to-market strategy; health volunteerism strategy and initiatives; hospital operations improvement; market expansion

ACCEPTING PROJECTS

People & Teams

Capacity building; mentoring; executive coaching; acceleration and incubation programmes; complex facilitation; human capital plan; change management
Ethical capital. Structured impact. Sustainable communities.

Strategic Islamic finance for inclusive and sustainable growth.
Architectural Excellence