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Financial inclusion through Zakat in Malaysia: essentiality of public participation during COVID-19 pandemic

The implementation of Zakat has been carried out for many centuries with the introduction of Islam. This inherent mechanism of financial inclusion stands out as a unique financial tool that divinely inspired. Contrary to other religious foundations, Islam ensures a socio-economic wealth circulation...

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Main Authors: Abdul Rahim, Rabiatul Adawiyah, Mohd. Zain, Nor Razinah, Mohd Noor, Azman
Format: Conference or Workshop Item
Language:English
English
Published: Akademi Pengajian Islam Kontemporari, Universiti Teknologi Mara (UiTM), Shah Alam, Selangor, Malaysia. 2020
Subjects:
BPH531 Zakat
H Social Sciences (General)
K Law (General)
Online Access:http://irep.iium.edu.my/96386/19/96386_Financial%20inclusion%20through%20Zakat%20in%20Malaysia.pdf
http://irep.iium.edu.my/96386/25/93686_%20Financial%20inclusion%20through%20Zakat%20in%20Malaysia_abstract.pdf
http://irep.iium.edu.my/96386/
https://news.uitm.edu.my/conference-on-zakat-waqf-and-islamic-philanthropy-zawfi-2020/
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spelling my.iium.irep.963862022-01-26T04:46:14Z http://irep.iium.edu.my/96386/ Financial inclusion through Zakat in Malaysia: essentiality of public participation during COVID-19 pandemic Abdul Rahim, Rabiatul Adawiyah Mohd. Zain, Nor Razinah Mohd Noor, Azman BPH531 Zakat H Social Sciences (General) K Law (General) The implementation of Zakat has been carried out for many centuries with the introduction of Islam. This inherent mechanism of financial inclusion stands out as a unique financial tool that divinely inspired. Contrary to other religious foundations, Islam ensures a socio-economic wealth circulation to be carried out from the rich to the poor and needy group with the minimal compulsory payments. Nonetheless, the effectiveness of Zakat has been proven historically in combating poverty in the society. With the spread of COVID-19 pandemic around the world, there is apparent increase of Asnafs in Malaysia. While, Malaysians have to stay at their homes for safety and to break the chain of infections, the dependency on technology and communication can be traced through online platforms. By adopting qualitative methods, this research is carried to evaluate the participation of the public towards improving financial inclusion through Zakat. Specifically focusing during the national levelled lockdown in Malaysia, the researchers found that the identification of Asnafs are more effective with the public participation. Moreover, the accountability of Zakat institutions is increased which made them to have more expeditious in their delivery of assistances. The existence of fake news in the online platform carries a potential reputation risk towards the Zakat institutions. Akademi Pengajian Islam Kontemporari, Universiti Teknologi Mara (UiTM), Shah Alam, Selangor, Malaysia. 2020 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/96386/19/96386_Financial%20inclusion%20through%20Zakat%20in%20Malaysia.pdf application/pdf en http://irep.iium.edu.my/96386/25/93686_%20Financial%20inclusion%20through%20Zakat%20in%20Malaysia_abstract.pdf Abdul Rahim, Rabiatul Adawiyah and Mohd. Zain, Nor Razinah and Mohd Noor, Azman (2020) Financial inclusion through Zakat in Malaysia: essentiality of public participation during COVID-19 pandemic. In: 4th International Virtual Conference on Zakat, Waqf and Islamic Philanthropy: Philanthropy Model 4.0 Towards Empowering Ummah with Technology (ZAWFI) 2020, 17th September 2020, Shah Alam, Selangor. https://news.uitm.edu.my/conference-on-zakat-waqf-and-islamic-philanthropy-zawfi-2020/
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic BPH531 Zakat
H Social Sciences (General)
K Law (General)
spellingShingle BPH531 Zakat
H Social Sciences (General)
K Law (General)
Abdul Rahim, Rabiatul Adawiyah
Mohd. Zain, Nor Razinah
Mohd Noor, Azman
Financial inclusion through Zakat in Malaysia: essentiality of public participation during COVID-19 pandemic
description The implementation of Zakat has been carried out for many centuries with the introduction of Islam. This inherent mechanism of financial inclusion stands out as a unique financial tool that divinely inspired. Contrary to other religious foundations, Islam ensures a socio-economic wealth circulation to be carried out from the rich to the poor and needy group with the minimal compulsory payments. Nonetheless, the effectiveness of Zakat has been proven historically in combating poverty in the society. With the spread of COVID-19 pandemic around the world, there is apparent increase of Asnafs in Malaysia. While, Malaysians have to stay at their homes for safety and to break the chain of infections, the dependency on technology and communication can be traced through online platforms. By adopting qualitative methods, this research is carried to evaluate the participation of the public towards improving financial inclusion through Zakat. Specifically focusing during the national levelled lockdown in Malaysia, the researchers found that the identification of Asnafs are more effective with the public participation. Moreover, the accountability of Zakat institutions is increased which made them to have more expeditious in their delivery of assistances. The existence of fake news in the online platform carries a potential reputation risk towards the Zakat institutions.
format Conference or Workshop Item
author Abdul Rahim, Rabiatul Adawiyah
Mohd. Zain, Nor Razinah
Mohd Noor, Azman
author_facet Abdul Rahim, Rabiatul Adawiyah
Mohd. Zain, Nor Razinah
Mohd Noor, Azman
author_sort Abdul Rahim, Rabiatul Adawiyah
title Financial inclusion through Zakat in Malaysia: essentiality of public participation during COVID-19 pandemic
title_short Financial inclusion through Zakat in Malaysia: essentiality of public participation during COVID-19 pandemic
title_full Financial inclusion through Zakat in Malaysia: essentiality of public participation during COVID-19 pandemic
title_fullStr Financial inclusion through Zakat in Malaysia: essentiality of public participation during COVID-19 pandemic
title_full_unstemmed Financial inclusion through Zakat in Malaysia: essentiality of public participation during COVID-19 pandemic
title_sort financial inclusion through zakat in malaysia: essentiality of public participation during covid-19 pandemic
publisher Akademi Pengajian Islam Kontemporari, Universiti Teknologi Mara (UiTM), Shah Alam, Selangor, Malaysia.
publishDate 2020
url http://irep.iium.edu.my/96386/19/96386_Financial%20inclusion%20through%20Zakat%20in%20Malaysia.pdf
http://irep.iium.edu.my/96386/25/93686_%20Financial%20inclusion%20through%20Zakat%20in%20Malaysia_abstract.pdf
http://irep.iium.edu.my/96386/
https://news.uitm.edu.my/conference-on-zakat-waqf-and-islamic-philanthropy-zawfi-2020/
_version_ 1724072843853955072
score 13.211869

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