Efficiency and effectiveness of zakat distribution for socio-economic benefits and wellbeing of zakat recipients

Rosman, Romzie and Othman, Anwar Hasan Abdullah and Redzuan, Nur Harena and Sharofiddin, Ashurov and Mohamad, Muslim Har Sani and Engku Ali, Engku Rabiah Adawiah (2020) Efficiency and effectiveness of zakat distribution for socio-economic benefits and wellbeing of zakat recipients. In: Islamic Social Finance: Pandemic Crisis and Possible Solutions, 29th -30th September 2020, Kuala Lumpur. (Unpublished)

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Abstract

The institution of zakat has played an important role in the economy. The efficiency and effectiveness of zakat collection and distribution contribute to the socio-economic wellbeing of the zakat recipients. However, even after receiving the zakat funds, the zakat recipients still have to live in poverty. The zakat institutions are unable to provide them with the necessary tools and eco-system that can sustain them out of poverty to improve their socio-economic wellbeing in terms of their health, education, and financial literacy. Therefore, tis research aims to critically review the relevant literature to explain the issue and challenges of the current zakat collection and distribution; and to propose an efficient, effective and sustainable zakat distribution model that reflects the needs of zakat recipients in relation to income enhancement, health care, education, and financial literacy. The objectives of the research are: (1) to identify the socio-economic challenges of zakat distribution model that hinders the zakat recipient's socio-economic wellbeing in term of education, health and financial literacy; and (2) to propose an efficient and effective channel for zakat distribution model in improving zakat recipient's socio-economic wellbeing. A new zakat distribution model need to be established to improve the zakat recipient's socio-economic wellbeing in Malaysia. Based on the research, theoretical and practical contributions are expected to support both Maqasid Shariah and Sustainable Development Goals.

Item Type:	Conference or Workshop Item (Slide Presentation)
Additional Information:	8720/83561 Presentation via online
Uncontrolled Keywords:	Zakat, sustainable development goals, Maqasid shariah, socio-economic benefits
Subjects:	BPH Islamic Economics BPH Islamic Economics > BPH531 Zakat H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF) Kulliyyah of Economics and Management Sciences
Depositing User:	Dr. ROMZIE ROSMAN
Date Deposited:	09 Oct 2020 11:07
Last Modified:	17 Nov 2020 09:39
URI:	http://irep.iium.edu.my/id/eprint/83561

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