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The Roles of Zakat in the Provision of Islamic Social Finance: Qualitative Approach

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dc.contributor.authorMohd Faisol Ibrahimen_US
dc.contributor.authorAman Shah Sirajen_US
dc.date.accessioned2024-05-30T07:21:42Z
dc.date.available2024-05-30T07:21:42Z
dc.date.issued2020-11-10
dc.descriptione-Proceedings of The 9th Islamic Banking, Accounting and Finance International Conference 2020 (iBAF2020) “Navigating the New Normal in Islamic Finance and Wealth Management” 10th – 11th November 2020, Malaysia Organized by: Faculty of Economics and Muamalat,USIM Page: 354-357en_US
dc.description.abstractIn the 21st Century, most economic models are based on profits, which creates a social gap and injustice. Under the Islamic economic model, besides making an appropriated profit, the wealth will also be redistributed to the eight needed groups known as asnaf through Zakat. As a result, Zakat helps to protect the interest of the unfortunate and close the social and economic gap. Therefore, the zakat objectives cover Sustainable Development Goals (SDG) that can improve humans worldwide. Besides helping asnaf, Zakat can be distributed to affected groups during crises and disasters like COVID-19. Hence, to facilitate and make progress smooth, Zakat must be managed by an institution and apply financial technology (FinTech). Thus, this paper attempt to review the related pieces of literature on SDG, redistribution of wealth and the role of Zakat during COVID-19. The methodology of this article is through library research based on the document- analysis of previous articles and literature on Zakat between 2010 until 2020. Therefore, Zakat is the best economy tool to purity and bless the wealth worldwide, especially the Muslim countries. Zakat is among the tool in reducing and eliminating poverty in Malaysia.en_US
dc.identifier.epage357
dc.identifier.isbn9789674408558
dc.identifier.spage354
dc.identifier.urihttp://fem.usim.edu.my/ibaf2020-proceeding/
dc.identifier.urihttps://oarep.usim.edu.my/handle/123456789/17397
dc.language.isoen_USen_US
dc.publisherUniversiti Sains Islam Malaysiaen_US
dc.relation.conferenceThe 9th Islamic Banking, Accounting and Finance International Conference 2020 (iBAF2020)en_US
dc.subjectZakat, Sustainable Development Goals, COVID-19, redistribution of wealth.en_US
dc.titleThe Roles of Zakat in the Provision of Islamic Social Finance: Qualitative Approachen_US
dc.typeArticleen_US
dspace.entity.typePublication

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