The use of zakat revenue in Islamic financing: jurisprudential debate and practical feasibility

Recent juristic debate rages around the possibility of using zakah revenue in Islamic law of public finance to better realize its intended poverty eradication goal. At the theoretical level, both the proponents and opponents employ extensive juristic argumentations to support their points of content...

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Main Authors:	Mahmud , Mek Wok, Shah Haneef, Sayed Sikandar
Format:	Article
Language:	English
Published:	SIME Journal 2009
Subjects:	BP Islam. Bahaism. Theosophy, etc HG Finance
Online Access:	http://irep.iium.edu.my/919/ http://irep.iium.edu.my/919/ http://irep.iium.edu.my/919/1/The_Use_of_Zakat_Revenue_in_Islamic_Financing.pdf

id	iium-919
recordtype	eprints
spelling	iium-9192012-01-16T03:46:28Z http://irep.iium.edu.my/919/ The use of zakat revenue in Islamic financing: jurisprudential debate and practical feasibility Mahmud , Mek Wok Shah Haneef, Sayed Sikandar BP Islam. Bahaism. Theosophy, etc HG Finance Recent juristic debate rages around the possibility of using zakah revenue in Islamic law of public finance to better realize its intended poverty eradication goal. At the theoretical level, both the proponents and opponents employ extensive juristic argumentations to support their points of contention. The thrust of the proponents argument is that zakah without productive implementation would not serve its designated goal of poverty alleviation while the opponents countered this case by saying that zakah collection is primarily designed to be immediately disbursed to the consumption needs of the recipients and not vice versa. In practice, however, it seems that the arguments by the proponents is favored as some counties like Kuwait and Malaysia, aside from providing handouts, also finance health care and education for the poor and needy. Accordingly, in our considered opinion, these issues need to be revisited with the primary aim of identifying a balanced legal stand and a feasible institutional framework which takes into full account both the consumption needs and future self-sufficiency of the deserving recipients. To this end, this paper begins by briefly outlining some theoretical aspects of zakah. Then, it proceeds to critically examine the juristic debate surrounding the permissibility of zakah utilization for financing Islamic socio-economic infrastructure. And lastly, it reviews the proposed framework for such utilization with the idea of advancing some jurisprudentially consistent proposals for further academic explorations. SIME Journal 2009 Article PeerReviewed application/pdf en http://irep.iium.edu.my/919/1/The_Use_of_Zakat_Revenue_in_Islamic_Financing.pdf Mahmud , Mek Wok and Shah Haneef, Sayed Sikandar (2009) The use of zakat revenue in Islamic financing: jurisprudential debate and practical feasibility. Studies in Islam and the Middle East, 6 (1). pp. 1-15. ISSN 1554-0154 http://majalla.org/
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	BP Islam. Bahaism. Theosophy, etc HG Finance
spellingShingle	BP Islam. Bahaism. Theosophy, etc HG Finance Mahmud , Mek Wok Shah Haneef, Sayed Sikandar The use of zakat revenue in Islamic financing: jurisprudential debate and practical feasibility
description	Recent juristic debate rages around the possibility of using zakah revenue in Islamic law of public finance to better realize its intended poverty eradication goal. At the theoretical level, both the proponents and opponents employ extensive juristic argumentations to support their points of contention. The thrust of the proponents argument is that zakah without productive implementation would not serve its designated goal of poverty alleviation while the opponents countered this case by saying that zakah collection is primarily designed to be immediately disbursed to the consumption needs of the recipients and not vice versa. In practice, however, it seems that the arguments by the proponents is favored as some counties like Kuwait and Malaysia, aside from providing handouts, also finance health care and education for the poor and needy. Accordingly, in our considered opinion, these issues need to be revisited with the primary aim of identifying a balanced legal stand and a feasible institutional framework which takes into full account both the consumption needs and future self-sufficiency of the deserving recipients. To this end, this paper begins by briefly outlining some theoretical aspects of zakah. Then, it proceeds to critically examine the juristic debate surrounding the permissibility of zakah utilization for financing Islamic socio-economic infrastructure. And lastly, it reviews the proposed framework for such utilization with the idea of advancing some jurisprudentially consistent proposals for further academic explorations.
format	Article
author	Mahmud , Mek Wok Shah Haneef, Sayed Sikandar
author_facet	Mahmud , Mek Wok Shah Haneef, Sayed Sikandar
author_sort	Mahmud , Mek Wok
title	The use of zakat revenue in Islamic financing: jurisprudential debate and practical feasibility
title_short	The use of zakat revenue in Islamic financing: jurisprudential debate and practical feasibility
title_full	The use of zakat revenue in Islamic financing: jurisprudential debate and practical feasibility
title_fullStr	The use of zakat revenue in Islamic financing: jurisprudential debate and practical feasibility
title_full_unstemmed	The use of zakat revenue in Islamic financing: jurisprudential debate and practical feasibility
title_sort	use of zakat revenue in islamic financing: jurisprudential debate and practical feasibility
publisher	SIME Journal
publishDate	2009
url	http://irep.iium.edu.my/919/ http://irep.iium.edu.my/919/ http://irep.iium.edu.my/919/1/The_Use_of_Zakat_Revenue_in_Islamic_Financing.pdf
first_indexed	2023-09-18T20:08:06Z
last_indexed	2023-09-18T20:08:06Z
_version_	1777407294932254720

The use of zakat revenue in Islamic financing: jurisprudential debate and practical feasibility

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