Is zakat fund collected investible?
Zakat being the fifth pillar of Islam tends to be discussed among the Muslims from the general collection and distribution aspects. The collection and disbursement functions of zakat appear to be straight forward cases. As with any funds, the zakat fund will naturally accumulate as a result of pay...
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| Language: | English |
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2010
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| Online Access: | http://irep.iium.edu.my/22678/ http://irep.iium.edu.my/22678/1/Is_Zakat_Fund_Collected_Investible.pdf |
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eprints |
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iium-226782012-04-16T23:09:35Z http://irep.iium.edu.my/22678/ Is zakat fund collected investible? Awang, Abdul Bari Mhd. Sarif, Suhaimi Ismail, Yusof HJ Public Finance Zakat being the fifth pillar of Islam tends to be discussed among the Muslims from the general collection and distribution aspects. The collection and disbursement functions of zakat appear to be straight forward cases. As with any funds, the zakat fund will naturally accumulate as a result of payments from eligible Muslims, and after disbursement, the fund should naturally decline. If the function of zakat is receipts and disbursements, then increases due to hibah from the financial institution with which the fund is maintained will only be incidental, and perhaps, unavoidable. There is one immediate and practical issue that will confront the management of zakat collection and disbursement. Should the surplus fund be left idle, or invested to further increase wealth? The answers may be referred to in authoritative literature. There are two objectives of the study: (1) to give guidelines on the issue of investability of zakat fund based on the views of the proponents and opponents from among the ulama’ (Muslim and Islamic religious scholars) in the literature. The study obtained views from Islamic jurisprudence tertiary students (n=33) about the issue through a short survey. The results indicated that while majority of respondents agreed to allow zakat surplus to be invested for the benefits of the zakat recipients; some respondents insisted zakat fund, must be distributed to zakat qualified recipients only, regardless of the benefits and advantages. They worried that the zakat authority could not follow the conditions when it investing zakat surplus. For future research, the study suggests to interview contemporary Muslim scholars and zakat practitioners to search for alternatives for zakat surplus investment. 2010 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/22678/1/Is_Zakat_Fund_Collected_Investible.pdf Awang, Abdul Bari and Mhd. Sarif, Suhaimi and Ismail, Yusof (2010) Is zakat fund collected investible? In: IIUM Research, Innovation & Invention Exhibition (IRIIE 2010), 26 - 27 January 2010, Kuala Lumpur. |
| repository_type |
Digital Repository |
| institution_category |
Local University |
| institution |
International Islamic University Malaysia |
| building |
IIUM Repository |
| collection |
Online Access |
| language |
English |
| topic |
HJ Public Finance |
| spellingShingle |
HJ Public Finance Awang, Abdul Bari Mhd. Sarif, Suhaimi Ismail, Yusof Is zakat fund collected investible? |
| description |
Zakat being the fifth pillar of Islam tends to be discussed among the Muslims from the general
collection and distribution aspects. The collection and disbursement functions of zakat appear to be
straight forward cases. As with any funds, the zakat fund will naturally accumulate as a result of payments
from eligible Muslims, and after disbursement, the fund should naturally decline. If the function of zakat
is receipts and disbursements, then increases due to hibah from the financial institution with which the
fund is maintained will only be incidental, and perhaps, unavoidable. There is one immediate and practical issue that will confront the management of zakat collection and disbursement. Should the surplus
fund be left idle, or invested to further increase wealth? The answers may be referred to in authoritative
literature. There are two objectives of the study: (1) to give guidelines on the issue of investability of
zakat fund based on the views of the proponents and opponents from among the ulama’ (Muslim and
Islamic religious scholars) in the literature. The study obtained views from Islamic jurisprudence tertiary
students (n=33) about the issue through a short survey. The results indicated that while majority of
respondents agreed to allow zakat surplus to be invested for the benefits of the zakat recipients; some
respondents insisted zakat fund, must be distributed to zakat qualified recipients only, regardless of the
benefits and advantages. They worried that the zakat authority could not follow the conditions when it
investing zakat surplus. For future research, the study suggests to interview contemporary Muslim
scholars and zakat practitioners to search for alternatives for zakat surplus investment. |
| format |
Conference or Workshop Item |
| author |
Awang, Abdul Bari Mhd. Sarif, Suhaimi Ismail, Yusof |
| author_facet |
Awang, Abdul Bari Mhd. Sarif, Suhaimi Ismail, Yusof |
| author_sort |
Awang, Abdul Bari |
| title |
Is zakat fund collected investible? |
| title_short |
Is zakat fund collected investible? |
| title_full |
Is zakat fund collected investible? |
| title_fullStr |
Is zakat fund collected investible? |
| title_full_unstemmed |
Is zakat fund collected investible? |
| title_sort |
is zakat fund collected investible? |
| publishDate |
2010 |
| url |
http://irep.iium.edu.my/22678/ http://irep.iium.edu.my/22678/1/Is_Zakat_Fund_Collected_Investible.pdf |
| first_indexed |
2023-09-18T20:34:31Z |
| last_indexed |
2023-09-18T20:34:31Z |
| _version_ |
1777408956317040640 |