A Conceptual Framework in Synergizing Waqf Real Estate and Zakat through Strategic Integration for Malaysian Asnaf
Journal Title: International Journal of Academic Research in Business and Social Sciences - Year 2018, Vol 8, Issue 1
Abstract
Strategic integration in waqf real estate and zakat projects yields sustainable benefits generated by State Islamic Religious Councils (SIRCs) for asnaf development. Among Muslims, asnaf groups have been highlighted in Islam to be eligible to receive zakat funds. There are eight categories of asnaf that represent the basic needs of an individual in Islam. The Islamic philanthropy study takes place theoretically and empirically in many Muslim countries. In Malaysia, the operation of waqf and zakat systems in institutional form has been well developed. However, the potential significant utilization of waqf real estate and zakat fund integration for asnaf development is limited and as yet still untapped. This paper reviews the relevant literature on the integration of waqf and zakat and then developing and proposing a conceptual framework in synergizing waqf real estate and zakat through strategic integration for asnaf development. The paper identifies the appropriate components such as cash waqf, funds from Baitulmal and involvement from Corporate Social Responsibility (CSR) as the elements to strengthen the integration. In cognizance with this study, the government as policymaker, SIRCs, corporate bodies and Islamic charity organizations must collaborate to boost asnaf abilities in many areas.
Authors and Affiliations
Siti Nadiah Mohd Ali, Salbiah Mokhtar, Abdul Halim Mohd Noor, Noraini Johari, Nurul Sahida Fauzi
Keywords
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- EP ID EP525417
- DOI 10.6007/IJARBSS/v8-i1/3889
- Views 128
- Downloads 0
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