A framework to analyse the efficiency and governance ofzakatinstitutions

Norazlina Abd. Wahab and Abdul Rahim Abdul Rahman

Journal of Islamic Accounting and Business Research, 2011, vol. 2, issue 1, 43-62

Abstract: Purpose - This paper aims to present a conceptual model on the efficiency and governance ofzakatinstitutions that are responsible in collecting, managing and distributingzakatin Malaysia.Zakatis an Islamic religious “tax” charged on the rich and well‐to‐do members of the community for distribution to the poor and the needy as well as other beneficiaries based on certain established criteria according to theQur'an. The main aim ofzakatis to protect the socio‐economic welfare of the poor and the needy. Design/methodology/approach - The paper reviews and synthesises the relevant literature on efficiency, governance andzakat. The paper then developed and proposed a conceptual model to study the efficiency and governance ofzakatinstitutions. Findings - The paper identifies the appropriate methods to evaluate efficiency and governance ofzakatinstitutions. Such evaluations are crucial for the Islamic financial system to function effectively in order to achieve the noble objectives of socio‐economic justice through proper distribution of wealth. Originality/value - This paper presents a conceptual model of efficiency and governance ofzakatinstitutions which would be useful for further empirical research in this area. The findings are not only relevant and applicable to Malaysia but also to other Muslim countries.

Keywords: Process efficiency; Governance; Malaysia; Taxes; Religion; Islam (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jiabrp:17590811111129508

DOI: 10.1108/17590811111129508

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