Issue
Authors retain the copyright without restrictions for their published content in this journal. HSSR is a SHERPA ROMEO Green Journal.
Publishing License
This is an open-access article distributed under the terms of
OPTIMIZATION OF ZAKAT FUND MANAGEMENT IN REGIONAL ZAKAT INSTITUTION
Corresponding Author(s) : Tika Widiastuti
Humanities & Social Sciences Reviews,
Vol. 6 No. 2 (2018)
Abstract
Purpose: The implementation of zakat fund management especially in some zakat institutions is considered not optimum yet. This condition is represented by disparity between potential and actual collection. In Islam, the objective of zakat is not only to collect wealth and keep it idle, instead zakat should become a source of productive fund to fulfill societal needs. Some countries with advanced zakat institutions have developed zakat to become a pillar of economic development. Today, each zakat institution is competing against each other to innovate in zakat fund management. Empowerment in zakat institutions with the appropriate strategies will enhance zakat management and distribution for the betterment of zakat recipients (mustahiq) and the Muslim society at large.
Design/Methodology/Approach: This research is aimed to analyze optimization of management in regional zakat institution with SWOT (strength, weakness, opportunity, threat) analysis approach with IFE-EFE Matrix. Descriptive qualitative analysis is used to explain optimization of fund in zakat institution.
Major Findings:Findings of this research shows that zakat institution should improve their strategy by developing strength and turning threat into opportunities.
Originality/Value: The study provides a guideline for regional zakat institution on how they can enhance their role and efficiency to boost the economic growth for the Islamic community in Indonesia. It may also be instrumental for the government to improve in efficiency and innovative manpower, considerable research and development in optimizing Islamic Gift Economy to enhance economic growth of the Islamic community of Indonesia.
Keywords
Download Citation
Endnote/Zotero/Mendeley (RIS)BibTeX
-
1. Abdul-MajeedAlaro, A. and Alalubosa, A. H. (2018) ‘Potential of Sharī’ah compliant microfinance in alleviating poverty in Nigeria: A lesson from Bangladesh’, International Journal of Islamic and Middle Eastern Finance and Management. Emerald Publishing Limited.
2. Abdullah, N., Mat Derus, A. and Al-Malkawi, H.-A. N. (2015) ‘The effectiveness of zakat in alleviating poverty and inequalities: a measurement using a newly developed technique’, Humanomics. Emerald Group Publishing Limited, 31(3), pp. 314–329.
3. Ahmed, B. O., Johari, F. and Abdul Wahab, K. (2017) ‘Identifying the poor and the needy among the beneficiaries of zakat: Need for a zakat-based poverty threshold in Nigeria’, International Journal of Social Economics. Emerald Publishing Limited, 44(4), pp. 446–458.
4. Al-Malkawi, H.-A. N. and Javaid, S. (2018) ‘Corporate social responsibility and financial performance in Saudi Arabia: Evidence from Zakat contribution’, Managerial Finance. Emerald Publishing Limited, 44(6), pp. 648–664.
5. Alfaizin, A. W., Insani, T. D. and Herianingrum, S. (2018) Zakat: Concept and Implications to Social and Economic (Economic TafsīrOf Al-Tawbah: 103), Journal of Islamic Monetary Economics and Finance, 4(1), pp. 117–132.
6. David, F., (2011), Strategic Management, ManajemenStrategis, Konsep. Jakarta: SalembaEmpat.
7. Djaghballou,Chams-Eddine, Mohamed Djaghballou, MousaLarbani, AzharMohamad, (2018) "Efficiency and productivity performance of zakat funds in Algeria", International Journal of Islamic and Middle Eastern Finance and Management, Vol. XI(3), 474-494, https://doi.org/10.1108/IMEFM-07-2017-0185
8. Mariyanti, T., &Mahfudz, A. A. (2016). Dynamic circular causation model in poverty alleviation: Empirical evidence from Indonesia. Humanomics, 32(3), 275-299.
9. Menne, F. (2016). Evidence of CSR Practices of Islamic Financial Institutions in Indonesia. In Advances in Islamic Finance, Marketing, and Management: An Asian Perspective (pp. 341-362). Emerald Group Publishing Limited.
10. Owolabi Yusuf, M. B., & Mat Derus, A. (2013). Measurement model of corporate zakat collection in Malaysia: A test of diffusion of innovation theory. Humanomics, 29(1), 61-74.
11. Saad, R. A. J. and Farouk, A. U. (2019) ‘A comprehensive review of barriers to a functional Zakat system in Nigeria: What needs to be done?’International Journal of Ethics and Systems. Emerald Publishing Limited, 35(1), pp. 24–42.
12. Shaikh, S. A., Ismail, M. A., Ismail, A. G., Shahimi, S., &Mohd. Shafiai, M. H. (2017). Towards an integrative framework for understanding Muslim consumption behaviour. Humanomics, 33(2), 133-149.
13. Wahab, N. A., & Rahim Abdul Rahman, A. (2011). A framework to analyse the efficiency and governance of zakat institutions. Journal of Islamic Accounting and Business Research, 2(1), 43-62.
14. YatimMandiri. (2012). Tentang Kami, (Online), (http://www.yatimmandiri.org/tentangkami/. Diaksespada 8 April 2013).
References
2. Abdullah, N., Mat Derus, A. and Al-Malkawi, H.-A. N. (2015) ‘The effectiveness of zakat in alleviating poverty and inequalities: a measurement using a newly developed technique’, Humanomics. Emerald Group Publishing Limited, 31(3), pp. 314–329.
3. Ahmed, B. O., Johari, F. and Abdul Wahab, K. (2017) ‘Identifying the poor and the needy among the beneficiaries of zakat: Need for a zakat-based poverty threshold in Nigeria’, International Journal of Social Economics. Emerald Publishing Limited, 44(4), pp. 446–458.
4. Al-Malkawi, H.-A. N. and Javaid, S. (2018) ‘Corporate social responsibility and financial performance in Saudi Arabia: Evidence from Zakat contribution’, Managerial Finance. Emerald Publishing Limited, 44(6), pp. 648–664.
5. Alfaizin, A. W., Insani, T. D. and Herianingrum, S. (2018) Zakat: Concept and Implications to Social and Economic (Economic TafsīrOf Al-Tawbah: 103), Journal of Islamic Monetary Economics and Finance, 4(1), pp. 117–132.
6. David, F., (2011), Strategic Management, ManajemenStrategis, Konsep. Jakarta: SalembaEmpat.
7. Djaghballou,Chams-Eddine, Mohamed Djaghballou, MousaLarbani, AzharMohamad, (2018) "Efficiency and productivity performance of zakat funds in Algeria", International Journal of Islamic and Middle Eastern Finance and Management, Vol. XI(3), 474-494, https://doi.org/10.1108/IMEFM-07-2017-0185
8. Mariyanti, T., &Mahfudz, A. A. (2016). Dynamic circular causation model in poverty alleviation: Empirical evidence from Indonesia. Humanomics, 32(3), 275-299.
9. Menne, F. (2016). Evidence of CSR Practices of Islamic Financial Institutions in Indonesia. In Advances in Islamic Finance, Marketing, and Management: An Asian Perspective (pp. 341-362). Emerald Group Publishing Limited.
10. Owolabi Yusuf, M. B., & Mat Derus, A. (2013). Measurement model of corporate zakat collection in Malaysia: A test of diffusion of innovation theory. Humanomics, 29(1), 61-74.
11. Saad, R. A. J. and Farouk, A. U. (2019) ‘A comprehensive review of barriers to a functional Zakat system in Nigeria: What needs to be done?’International Journal of Ethics and Systems. Emerald Publishing Limited, 35(1), pp. 24–42.
12. Shaikh, S. A., Ismail, M. A., Ismail, A. G., Shahimi, S., &Mohd. Shafiai, M. H. (2017). Towards an integrative framework for understanding Muslim consumption behaviour. Humanomics, 33(2), 133-149.
13. Wahab, N. A., & Rahim Abdul Rahman, A. (2011). A framework to analyse the efficiency and governance of zakat institutions. Journal of Islamic Accounting and Business Research, 2(1), 43-62.
14. YatimMandiri. (2012). Tentang Kami, (Online), (http://www.yatimmandiri.org/tentangkami/. Diaksespada 8 April 2013).