Current disclosure practices by Zakat Institutions in Malaysia: An exploratory study

Sapingi, Raedah and Puat Nelson, Sherliza (2016) Current disclosure practices by Zakat Institutions in Malaysia: An exploratory study. In: 2nd UUM Qualitative Research Conference 2016, 24th-26th May 2016, Penang, Malaysia. (Unpublished)

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Abstract

To fulfill the concept of maqasid shari’ah as well as to be in lined with the efforts from the Malaysian National Audit Department (MNAD) in improving accountability and transparency in the public sectors, zakat institutions are no exceptions in this case. Zakat institutions need to ensure that the funds collected and disbursed are reported accordingly. Prior studies have shown that zakat payers’ were dissatisfied on the lack of information disclosed in zakat disbursement’s information among zakat institutions in Malaysia. Hence, leads to questions of accountability in the dissemination of information that might have caused from the inconsistencies in the disclosure practices among zakat institutions in Malaysia. Further, the nonexistence of a regulatory body or, zakat accounting standards to regulate and provide guidelines for reporting and disclosure, increases the information gap. Therefore, this study intends to investigate the current disclosure practices among zakat institutions; that put focus on financial, nonfinancial and governance information. Semi-structured interviews were conducted with zakat payers. The findings highlight that zakat payers were of the opinion that disclosures practices among zakat institutions were inadequate. The study concludes that the issue of accountability among zakat institutions is still questionable and many rooms need to be improved

Item Type:	Conference or Workshop Item (Plenary Papers)
Additional Information:	3486/58619
Uncontrolled Keywords:	Zakat Disclosure Practices, Accountability, Financial, Non-financial and Governance Information
Subjects:	H Social Sciences > H Social Sciences (General) > H96 Public policy (General), Policy sciences
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Accounting
Depositing User:	Sherliza Puat Nelson
Date Deposited:	04 Oct 2017 09:11
Last Modified:	04 Oct 2017 09:11
URI:	http://irep.iium.edu.my/id/eprint/58619

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