Eletrebi, Mahamed Fathy and Suleiman, Hassan (2021) دور الزكاة في التمويل الاجتماعي في ظل أزمة كورونا .. ماليزيا نموذجا Role of zakat in social finance in light of Covid-19 Pandemic: a Malaysia study. In: 2nd Kedah International Zakat Conference 2021 (i-KEIZAC 2021), 17-18 August 2021, Virtual.
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Abstract
ABSTACT: Zakāt is considered as an essential resource for Islamic finance as it is a purely wealth form of religious duty or worship. Zakāt is the right of wealth, where wealth is the second ruler of an Islamic state. Just as the Ruler performs his duty in administering the state, similarly, wealth performs its function with regards to the classes of poor and needy persons as well as financing small and medium-sized enterprises. Hence there comes the importance of this paper, which is to demonstrate the role of Zakāt in Financing and Development Provisions. With “Revealing the role of zakat in financing provisions and curbing poverty and unemployment by financing small and medium-sized enterprises” as the problem statement, this paper attempts to answer the following questions: What is the definition of Islamic Finance, what are the types or aspects, and its significance? What is the role of zakāt in financing operations? And what are the forms of financing in the era of Covid-19 pandemic in Malaysia? Adhering to the descriptive, inductive and analytical approach, the researcher presents his idea in the following structure: introduction, preliminary explanations on key concepts: zakat, financing, investment, development, and crises, subtopic 1 (Definition of Islamic Finance and its Importance), subtopic 2 (Role of Zakāt in Financing Provisions), and research findings with discussions. .
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