Zakat as the third pillar of Islam forms social security for the poor and needy. Zakat also develops a balanced economic growth through redistribution of wealth in society, to purify wealth and for spritual development. Zakat is an instrument fund that is so dynamic and recognized as one of the proper methods to measure the economic growth. This paper analyzes percentage growth trend of the zakat collection in Selangor based on gold price, nisab, Gross Domestic Products (GDP) and Inflation Rate. Percentage growth of each zakat collection, gold price, nisab rate and macroeconomic variables are illustrated graphicaly to show the yearly trend of zakat collection in relation to gold price, nisab and macroeconomic factors. Based on the growth trend, macroecnomic factors such as GDP shows an increasing positive trend together with zakat collection and inflation shows an increasing negative trend together with zakat collection. Nisab on zakat collection also shows an increasing negative trend together with zakat collection. The findings support the fact that zakat collection moves in trend in relation to other external factors such as GDP and inflation and internal factors such as nisab on zakat collection. The percentage growth trend quantifies the rate of growth over a specified period, thus zakat institution can predict future zakat collection based on the nisab and macroeconomic factors. The percentage growth trend in zakat collection can be used to plan for zakat distribution to Asnaf (beneficiaries) more efficiently especially during economic crisis period such as Covid-19. The zakat collection growth trend is an important financial planning measure to sustanin socio-economic justice and equitable distribution of income and wealth of a nation.

Zakat is the third pillar in Islam which forms social security for the poor and needy. Zakat also develops a balanced economic growth through redistribution of wealth in society, wealth purification and for spiritual development. Zakat is among the most important elements of wealth management that are so dynamic and recognized as one of the proper methods to measure economic growth. Macroeconomic variables such as growth domestic product (GDP), consumer price index (CPI) and unemployment rate are among the best measures for the economic condition of a country. Thus, proper Zakat fund management should be carried out to address wealth accumulation during good economy and also zakat collection shortages during bad economy such as in the financial crisis. Consequently, the objective of this paper is to examine the relationship between zakat collection in Selangor and macroeconomic variables such as GDP, CPI and unemployment rate. Quarterly data is used to show seasonal fluctuations or changes in zakat collection in relation to changes in macroeconomic variables. This study applies time series analysis to assess the state of zakat collection under the influence of macroeconomic factors. The findings suggest growth domestic product (GDP) is positive and significantly correlated with Zakat collection (ZC) at 1% significant level. This means the higher the GDP the higher the amount of Zakat collection and vice versa. Consumer price index (CPI) and unemployment rate are not significantly correlated with Zakat collection (ZC). These results implicate the need for Lembaga Zakat Selangor particularly to have proper financial planning in zakat collection such as bigger savings during good economy (higher GDP) to cover the increasing demand from the existing and potential beneficiaries (Asnaf) during crisis period (lower GDP) such as Covid-19.

Islam encourages humans to acquire, manage and spend wealth in a good manner. Wealth is an essential part in human life to satisfy human needs. A Muslim should be concerned on how his wealth is being utilized and how the wealth is distributed upon death. Islamic financial planning is a step-by-step process of managing the wealth of Muslims. Islamic financial planning can help individuals to make informed financial decisions. Personal financial planning should align with Islamic principles for individuals to achieve success in the world and hereafter (al-falah). The objective of this paper is to provide a comprehensive overview of Islamic financial planning, including the key components and its importance. This paper employs a qualitative methodology with a content analysis approach to review and analyze existing literature. A critical analysis on the guide to Islamic financial planning is provided through this research. The findings highlight proper financial planning will enhance money management, optimize resources and secure long-term financial goals. Integration of Islamic principles in financial planning can preserve and grow wealth while adhering to Shariah laws. Muslims should regard Islamic financial planning as a valuable financial activity to achieve al-falah.

Zakat as means to help Muslims to increase their living standard and to sustain socio-economic justice. The efficiency in zakat management especially in zakat collection and zakat distribution is still lack due to low transparency and ineffectiveness distribution process. The evolving Fintech has become an important integrated practice, especially in financial transactions. Blockchain technology seems to increase the efficiency in zakat fund data collection which leads to enhance the effectiveness of zakat distribution. The purpose of this study is to identify the integration of Blockchain in zakat management to optimize zakat collection and zakat distribution. This study employed qualitative research, attempting to describe the contribution of Fintech in Zakat institutions. The synergy of Blockchain technology and zakat management contributes to higher transparency in the collection and distribution of zakat. However, there is a limitation on the integration of Blockchain technology in the zakat management which needs profound discussions in the future.