Developing a Conceptual Framework for Zakat Collection and Distribution Impact on Social Welfare Through Implications of SDGs

Author:

Ashurov Sharofiddin1,Alhabshi Syed Musa bin Syed Jaafar1,Othman Anwar Hasan Abdullah1ORCID,Habibullah Mohammad1,Muhamad Yusof Mohd Sukri2

Affiliation:

1. IIUM Institute of Islamic Banking and Finance (IIiBF), Malaysia

2. Techtrade Defence Sdn Bhd, Malaysia

Abstract

Although Islamic social finance including zakat has witnessed an upsurge in development in quantum, which reached US$2 trillion in 2015 and is projected to exceed US$3 trillion by 2020, due to a lack of transparency, trust, and timely disclosure to public has resulted in inefficient of zakat collection and ineffective disbursement for the wellbeing of recipients. The reason for this could be neglecting adoption of financial technology specifically blockchain and artificial intelligence system in zakat management to enhance proper collection and efficient distributions timely and effectively reporting to public. Therefore, this research proposes an ‘Islamic Social Welfare Financial Technology' (ISW FinTech) as an innovative framework that assesses zakat institutions operational efficiency of zakat collection, transparency, and effective distribution that would lead to wellbeing of zakat recipients. This framework is based on new six clusters according to their needs and priority, which convert them from being zakat recipients into zakat payers.

Publisher

IGI Global

Reference66 articles.

1. Ismail & Shaikh. (2017). Where is the Place for Zakat in Sustainable Development Goals? IESTC Working Paper Series, Working Paper No. 4. Bangi: Islamic Economic Studies and Thoughts Centre.

2. Waqf as a framework for entrepreneurship

3. Is Zakah Effective to Alleviate Poverty in a Muslim Society?: A Case of Kwara State, Nigeria

4. Achieve the SDGs in Indonesia. (2018). Bogor Agricultural University.

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3