ESTIMATION OF ZAKAT PROCEEDS IN BANGLADESH: A TWO-APPROACH ATTEMPT

Rizaldi Yusfiarto (), Rashed Jahangir () and Mehmet Bulut ()
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Rizaldi Yusfiarto: UIN Sunan Kalijaga Yogyakarta, Indonesia
Rashed Jahangir: Department of Islamic Economics and Finance, Istanbul Sabahattin Zaim University, Istanbul, Turkey
Mehmet Bulut: Department of Islamic Economics and Finance, Istanbul Sabahattin Zaim University, Istanbul, Turkey

Journal of Islamic Monetary Economics and Finance, 2022, vol. 8, issue 1, 133-148

Abstract: The purpose of this study is to calculate Zakat proceeds in Bangladesh by using both classical and contemporary or alternative Zakat calculation methods. The results reveal that the percentage of Zakat amount to GDP is significantly higher than the average, i.e., 2.5-3%; under the classical and alternative approaches, the Zakat proceeds are estimated as 3.79 and 2.33 percent of GDP, respectively.

Keywords: Zakat; Economic growth; Poverty alleviation; Islamic social finance (search for similar items in EconPapers)
JEL-codes: B55 E6 H2 I38 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:idn:jimfjn:v:8:y:2022:i:1g:p:133-148

DOI: 10.21098/jimf.v8i1.1455

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