Publication: The Concept of Al-Falah Maximization: Zakat And Industry Revolution 4.0
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Date
2020
Journal Title
Journal ISSN
Volume Title
Publisher
Labuan Faculty of International Finance, Universiti Malaysia Sabah
Abstract
Falah maximization refers to the falah or success not only in the world, but also in the hereafter. Within this context, Muslim believes that obedience to Allah’s command will lead to barakah and falah maximization in one life. Zakat is one of Islam pillar and the unique lies in the collection and distribution of zakat is that zakat is an economic system exclusively for Muslimsociety. In the hand of the muzakki (zakat payer), even though the experience less utility, less income and asset after paying zakat, it is undeniable that he will feel greater satisfaction after discharging his responsibility because as a true Muslim, he will believe that he do that for Allah and the reward will be given only by Allah in this world and hereafter. Zakat can also lead to fair income distribution in a country. When the rich pay zakat promptly, the wealth will not only be circulated among richgroup of people, but it will also flow to the asnaf (mustahik) through the zakat distribution. This study is aimed at explaining that towards the Industry Revolution 4.0, zakat management can be optimized and enhanced using new technologies and by digitization of zakat, it is easier for muzakki to pay zakat and the zakat institutions can use technologies to provide online information and reporting which will help increase trust of public towards the zakat institutions. Because of new technologies, zakat collection and distribution will become smoother etc, then Malaysia will become more prosperous and lastly achieving falah as a whole as the income gap between rich and poor can be reduced and poverty can eventually be eliminated. This study was conducted using qualitative methods based on library research. The study finds that zakat institution should improve their strategy by developing strength and turning threat into opportunitie. Thus, achieving this via zakat will invite blessing from Allah and the Muslim society will not only actually achieving falah in this world, but also in the hereafter.
Description
Vol. 14
Keywords
Falah maximization, zakat, industry revolution 4.0, asnaf
Citation
Ibrahim, M. F., & Tambi Chek, N. M. B. (2020). THE CONCEPT OF AL-FALAH MAXIMIZATION: ZAKAT AND INDUSTRY REVOLUTION 4.0. Labuan E-Journal of Muamalat and Society (LJMS), 14, 11–22. https://doi.org/10.51200/ljms.v14i.2863