The role of Zakat as an Islamic social finance towards achieving sustainable development goals: a case study of Northern Nigeria
Purpose: This study aims to explore the role of Zakat in addressing development challenges facing Nigeria and its potentiality in achieving sustainable development goals in Nigeria. Design/methodology/approach: The study adopts qualitative method by conducting library research and critically revi...
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| Format: | Conference or Workshop Item |
| Language: | English |
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1st Global Conference on Islamic Economics and Finance 2018 (GCIEF 2018)
2018
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| Online Access: | http://irep.iium.edu.my/67124/ http://irep.iium.edu.my/67124/ http://irep.iium.edu.my/67124/1/67124_The%20Role%20of%20Zakat%20as%20an%20Islamic.pdf |
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iium-67124 |
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eprints |
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iium-671242018-10-29T02:21:15Z http://irep.iium.edu.my/67124/ The role of Zakat as an Islamic social finance towards achieving sustainable development goals: a case study of Northern Nigeria Ibrahim Atah, Ummi Mohammad Ali Nasr, Wafa Mohammed, Mustafa Omar BP173.75 Islam and economics HG3368 Islamic Banking and Finance HJ1438 Public Finance In Islam Purpose: This study aims to explore the role of Zakat in addressing development challenges facing Nigeria and its potentiality in achieving sustainable development goals in Nigeria. Design/methodology/approach: The study adopts qualitative method by conducting library research and critically reviewing the literature. Findings: This study finds that Zakat as an Islamic social finance for ensuring socioeconomic and distributive justice through preserving and circulating wealth, has the potentialities of achieving most sustainable development goals. This includes reduction of poverty, hunger and inequality. In addition, zakat can promote sustainable agriculture, peaceful and inclusive societies, quality education, good health and well-being. Therefore, the study concludes that, to ensure effective utilisation of zakat fund by the recipient and wider coverage of Zakat to a number of poor people in the region, utilisation of modern communication in form of e-community-based platform for enlightment towards investment of zakat fund in the form of Mudaraba is mandatory. This approach is also found to be useful in enhancing financial inclusion of poor people and diversification of sources of zakat collection. Originality/value: The novelty of this study lies in the incorporation of E-community based platform structure for collection, distribution and investment of certain percentage of recipient fund in the form of Mudaraba. Limitation: The research is limited to library research and covers the whole Northern Nigeria without specific reference. More so the perception of the stakeholders is not taken into cognisance. Further Research: Further research should carry out a field survey to gauge the perception of the stakeholders with regard to the proposed e-community-based platform by making reference to a particular state. Practical implications – Study findings can be useful to policymakers in diversifying sources of Zakat collection and effective disbursing of Zakat to reduce poverty, inequality and hunger. Social implications – The target zakat beneficiary are generally poor, the study outcome may improve their total welfare and quality of life. 1st Global Conference on Islamic Economics and Finance 2018 (GCIEF 2018) 2018 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/67124/1/67124_The%20Role%20of%20Zakat%20as%20an%20Islamic.pdf Ibrahim Atah, Ummi and Mohammad Ali Nasr, Wafa and Mohammed, Mustafa Omar (2018) The role of Zakat as an Islamic social finance towards achieving sustainable development goals: a case study of Northern Nigeria. In: 1st Global Conference on Islamic Economics and Finance 2018 (GCIEF 2018), 24th-25th Oct. 2018, Kuala Lumpur. https://ircief.org.my/gcief2018/wp-content/uploads/2018/10/6.-The-Role-of-Zakat-as-an-Islamic-Social-Finance-towards-Achieving-Sustainable-Development-Goals-A-Case-Study-of-Northern-Nigeria.pdf |
| repository_type |
Digital Repository |
| institution_category |
Local University |
| institution |
International Islamic University Malaysia |
| building |
IIUM Repository |
| collection |
Online Access |
| language |
English |
| topic |
BP173.75 Islam and economics HG3368 Islamic Banking and Finance HJ1438 Public Finance In Islam |
| spellingShingle |
BP173.75 Islam and economics HG3368 Islamic Banking and Finance HJ1438 Public Finance In Islam Ibrahim Atah, Ummi Mohammad Ali Nasr, Wafa Mohammed, Mustafa Omar The role of Zakat as an Islamic social finance towards achieving sustainable development goals: a case study of Northern Nigeria |
| description |
Purpose: This study aims to explore the role of Zakat in addressing development challenges
facing Nigeria and its potentiality in achieving sustainable development goals in Nigeria.
Design/methodology/approach: The study adopts qualitative method by conducting library
research and critically reviewing the literature.
Findings: This study finds that Zakat as an Islamic social finance for ensuring socioeconomic
and distributive justice through preserving and circulating wealth, has the
potentialities of achieving most sustainable development goals. This includes reduction of
poverty, hunger and inequality. In addition, zakat can promote sustainable agriculture,
peaceful and inclusive societies, quality education, good health and well-being.
Therefore, the study concludes that, to ensure effective utilisation of zakat fund by the
recipient and wider coverage of Zakat to a number of poor people in the region,
utilisation of modern communication in form of e-community-based platform for
enlightment towards investment of zakat fund in the form of Mudaraba is mandatory.
This approach is also found to be useful in enhancing financial inclusion of poor
people and diversification of sources of zakat collection.
Originality/value: The novelty of this study lies in the incorporation of E-community based
platform structure for collection, distribution and investment of certain percentage of
recipient fund in the form of Mudaraba.
Limitation: The research is limited to library research and covers the whole Northern
Nigeria without specific reference. More so the perception of the stakeholders is not taken
into cognisance.
Further Research: Further research should carry out a field survey to gauge the perception
of the stakeholders with regard to the proposed e-community-based platform by making
reference to a particular state.
Practical implications – Study findings can be useful to policymakers in diversifying
sources of Zakat collection and effective disbursing of Zakat to reduce poverty, inequality
and hunger.
Social implications – The target zakat beneficiary are generally poor, the study outcome may
improve their total welfare and quality of life. |
| format |
Conference or Workshop Item |
| author |
Ibrahim Atah, Ummi Mohammad Ali Nasr, Wafa Mohammed, Mustafa Omar |
| author_facet |
Ibrahim Atah, Ummi Mohammad Ali Nasr, Wafa Mohammed, Mustafa Omar |
| author_sort |
Ibrahim Atah, Ummi |
| title |
The role of Zakat as an Islamic social finance towards achieving sustainable development goals: a case study of
Northern Nigeria |
| title_short |
The role of Zakat as an Islamic social finance towards achieving sustainable development goals: a case study of
Northern Nigeria |
| title_full |
The role of Zakat as an Islamic social finance towards achieving sustainable development goals: a case study of
Northern Nigeria |
| title_fullStr |
The role of Zakat as an Islamic social finance towards achieving sustainable development goals: a case study of
Northern Nigeria |
| title_full_unstemmed |
The role of Zakat as an Islamic social finance towards achieving sustainable development goals: a case study of
Northern Nigeria |
| title_sort |
role of zakat as an islamic social finance towards achieving sustainable development goals: a case study of
northern nigeria |
| publisher |
1st Global Conference on Islamic Economics and Finance 2018 (GCIEF 2018) |
| publishDate |
2018 |
| url |
http://irep.iium.edu.my/67124/ http://irep.iium.edu.my/67124/ http://irep.iium.edu.my/67124/1/67124_The%20Role%20of%20Zakat%20as%20an%20Islamic.pdf |
| first_indexed |
2023-09-18T21:35:18Z |
| last_indexed |
2023-09-18T21:35:18Z |
| _version_ |
1777412780578570240 |