Application of Zakat:From Classical and Contemporary Perspective

M. Kabir Hassan, Magda Ismail Abdel Mohsin and Aishath Muneeza
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Magda Ismail Abdel Mohsin: INCEIF University, Malaysia
Aishath Muneeza: INCEIF University, Malaysia

in World Scientific Books from World Scientific Publishing Co. Pte. Ltd.

Abstract: Zakat, being the third pillar of Islam, is an act of worship fulfilled by Muslims. As an obligatory means of alms- giving expected of Muslims, it also helps to alleviate poverty in society by assisting such individuals to achieve a state of financial independence. It is maintained by Muslims that the principles of zakat derived from the Sharia are expected to remain unchanged with passing time. However, in order to achieve efficiency in the administration of zakat, innovation and technology can be used even within the parameters of Sharia. The objective of this textbook is to provide the opportunity to learn the basics of zakat and its contemporary application by highlighting the innovative practices of zakat with issues and challenges.

Keywords: Islamic Social Finance; Zakat; Alms; Islamic Finance; Islamic Banking: Shariah Law (search for similar items in EconPapers)
JEL-codes: P46 (search for similar items in EconPapers)
Date: 2024
ISBN: 9789811276149
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