Utilization of zakat fund for social development: reading from Islamic wealth management perspective

The modern propose system of zakat institution is very important for promoting economic and social instrument tools for the poverty eradication and economic stability in Muslims societies. This paper aims to examine the impact of social responsibility of financial performance, eradication of poverty...

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Main Authors:	Zakariyah, Habeebullah, Kehinde, Lawal, Hassan Habeebullahi, Bature
Format:	Article
Language:	English
Published:	USIM 2019
Subjects:	HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/76307/ http://irep.iium.edu.my/76307/ http://irep.iium.edu.my/76307/1/76307%20-%20Utilization%20of%20zakat%20fund%20for%20social%20development%20reading%20from%20Islamic%20wealth%20management%20perspective.pdf

id	iium-76307
recordtype	eprints
spelling	iium-763072019-12-12T03:17:18Z http://irep.iium.edu.my/76307/ Utilization of zakat fund for social development: reading from Islamic wealth management perspective Zakariyah, Habeebullah Kehinde, Lawal Hassan Habeebullahi, Bature HG3368 Islamic Banking and Finance The modern propose system of zakat institution is very important for promoting economic and social instrument tools for the poverty eradication and economic stability in Muslims societies. This paper aims to examine the impact of social responsibility of financial performance, eradication of poverty and economic distribution of wealth in the modern world by using zakat fund as a measure. The main objective of this study is to examine to what extent zakat fund can be utilized for the economic growth and social development of the Muslims societies. Zakat being the third pillars of Islam, has a great significant and substantial role to play in wealth management and economic development particularly in the area of human capital empowerment for the long term rather than short term relief for the poor people and other categories mentioned in the Qur’an (asnaf), this will prevent zakat fund from being diverted for other purposes rather than its main objective (Maqasid of Zakat). A critical analytical approach has been adopted in conducting this study. Finally, this paper concluded that Zakat funds can be used for capital investment in providing assistance for the needy people (Asnaf) which will have long term social impact to improve the standard living of people. USIM 2019-10-30 Article PeerReviewed application/pdf en http://irep.iium.edu.my/76307/1/76307%20-%20Utilization%20of%20zakat%20fund%20for%20social%20development%20reading%20from%20Islamic%20wealth%20management%20perspective.pdf Zakariyah, Habeebullah and Kehinde, Lawal and Hassan Habeebullahi, Bature (2019) Utilization of zakat fund for social development: reading from Islamic wealth management perspective. Journal of Fatwa Management and Research, 18 (3). pp. 313-334. ISSN 2232-1047 E-ISSN 0127-8886 http://jfatwa.usim.edu.my/index.php/jfatwa/about
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG3368 Islamic Banking and Finance
spellingShingle	HG3368 Islamic Banking and Finance Zakariyah, Habeebullah Kehinde, Lawal Hassan Habeebullahi, Bature Utilization of zakat fund for social development: reading from Islamic wealth management perspective
description	The modern propose system of zakat institution is very important for promoting economic and social instrument tools for the poverty eradication and economic stability in Muslims societies. This paper aims to examine the impact of social responsibility of financial performance, eradication of poverty and economic distribution of wealth in the modern world by using zakat fund as a measure. The main objective of this study is to examine to what extent zakat fund can be utilized for the economic growth and social development of the Muslims societies. Zakat being the third pillars of Islam, has a great significant and substantial role to play in wealth management and economic development particularly in the area of human capital empowerment for the long term rather than short term relief for the poor people and other categories mentioned in the Qur’an (asnaf), this will prevent zakat fund from being diverted for other purposes rather than its main objective (Maqasid of Zakat). A critical analytical approach has been adopted in conducting this study. Finally, this paper concluded that Zakat funds can be used for capital investment in providing assistance for the needy people (Asnaf) which will have long term social impact to improve the standard living of people.
format	Article
author	Zakariyah, Habeebullah Kehinde, Lawal Hassan Habeebullahi, Bature
author_facet	Zakariyah, Habeebullah Kehinde, Lawal Hassan Habeebullahi, Bature
author_sort	Zakariyah, Habeebullah
title	Utilization of zakat fund for social development: reading from Islamic wealth management perspective
title_short	Utilization of zakat fund for social development: reading from Islamic wealth management perspective
title_full	Utilization of zakat fund for social development: reading from Islamic wealth management perspective
title_fullStr	Utilization of zakat fund for social development: reading from Islamic wealth management perspective
title_full_unstemmed	Utilization of zakat fund for social development: reading from Islamic wealth management perspective
title_sort	utilization of zakat fund for social development: reading from islamic wealth management perspective
publisher	USIM
publishDate	2019
url	http://irep.iium.edu.my/76307/ http://irep.iium.edu.my/76307/ http://irep.iium.edu.my/76307/1/76307%20-%20Utilization%20of%20zakat%20fund%20for%20social%20development%20reading%20from%20Islamic%20wealth%20management%20perspective.pdf
first_indexed	2023-09-18T21:47:51Z
last_indexed	2023-09-18T21:47:51Z
_version_	1777413570670100480

Utilization of zakat fund for social development: reading from Islamic wealth management perspective

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