The Imperative of Zakat on Financial Instruments in a Globalized Economy DOI
Kurniawan Arif Maspul,

Islahuddin Mubarak

Journal of Waqf and Islamic Economic Philanthropy, Journal Year: 2025, Volume and Issue: 2(3), P. 23 - 23

Published: April 14, 2025

Amidst a $109 trillion global equity market and widening wealth chasms, this study repositions Zakat—Islam’s divine tax—as radical antidote to neoliberal excess. Synthesizing juristic rigor with empirical analysis, it asserts stocks asset-backed sukuk as Zakatable under Urud al-Tijarah, contingent on trade intent Shariah compliance. Indonesia’s BAZNAS emerges paradigmatic, diverting 12% of $700M annual Zakat from equities uplift 15,000 families, while Malaysia’s automated systems Saudi profit-levies reveal scalable blueprints. Yet $1 in uncollected persists, shackled by bond-based riba, regulatory disarray, valuation ambiguities. The work champions blockchain traceability, AI-driven compliance, harmonized frameworks unlock Zakat’s latent power. By fusing prophetic ethics fintech innovation, research reengineers capitalism’s DNA—transforming speculative markets into conduits sacred equity, where prosperity is not hoarded but flowed, Imam Al-Ghazali envisioned, every corner our parched world.

Language: Английский

Accessibility and perceived effect of Sadaqah on student situational poverty during Covid-19 pandemic DOI
Saheed Abdullahi Busari,

Joseph Adekunle Adebiyi,

Miszairi Sitiris

et al.

Journal of Islamic accounting and business research, Journal Year: 2025, Volume and Issue: unknown

Published: Jan. 30, 2025

Purpose Sadaqah, a form of Islamic charity, was widely used to mitigate the adverse consequences COVID-19 pandemic on people’s socio-economic conditions and well-being. However, extent which Sadaqah served intended purpose remains unclear. Therefore, this study aims explore perceived effects situational poverty well-being tertiary education students in Malaysia during pandemic. The findings could provide valuable insights into whether how can address challenges COVID-19-type emergencies. Design/methodology/approach This surveyed at three universities Malaysia. A total 288 complete valid responses were collected analysed. Kruskal Wallis test examine relationship between students’ socioeconomic status their odds receiving Sadaqah. chi-square estimate Sadaqah’s effect repeated measure analysis variance respondents. Findings starkly magnified from underprivileged backgrounds struggles those high-income households. Many reported pandemic-induced financial physical issues, including difficulties meeting medical food expenses. underscores pressing need for comprehensive support. received by did not cover essential expenses such as rent, tuition bills. lack support be critical factor limited impact addressing enhancing students. Originality/value revealed limitations emergencies identified promising avenues improvement. underscore more approach significantly enhance its recipients. insight potentially inform policy practice, inspiring hope effective future.

Language: Английский

Citations

0
Helping Across Boundaries: Collectivism and Hierarchy in the Ultra-Orthodox Context DOI Creative Commons
Chananel Goldfinger,

Shomi Shahar-Rosenblum,

Itschak Trachtengot

et al.

Behavioral Sciences, Journal Year: 2025, Volume and Issue: 15(4), P. 520 - 520

Published: April 13, 2025

Understanding the role of collectivism in shaping prosocial behavior is critical for advancing theories social cooperation and group dynamics. This study provides first empirical examination collectivistic orientation within Ultra-Orthodox (Haredi) community using Horizontal Vertical Individualism-Collectivism (HVIC) framework. Data from 702 participants revealed a predominant collectivist orientation, with particularly strong emphasis on balanced collectivism. The further explored how individualist tendencies predict helping behaviors toward in-group out-group members. Results indicate that conservatism positively predicts but negatively assistance, whereas individualism are associated increased helping. strongest predictor assistance was an individual’s inherent disposition to help, suggesting extends beyond purely communal expectations positions these individuals as natural agents change. insight offers perspective personal characteristics may contribute renewal. Our contributes cross-cultural research by emphasizing power resource allocation altruistic tendencies, while demonstrating vertical orientations tend reinforce preferences.

Language: Английский

Citations

0
The Imperative of Zakat on Financial Instruments in a Globalized Economy DOI
Kurniawan Arif Maspul,

Islahuddin Mubarak

Journal of Waqf and Islamic Economic Philanthropy, Journal Year: 2025, Volume and Issue: 2(3), P. 23 - 23

Published: April 14, 2025

Amidst a $109 trillion global equity market and widening wealth chasms, this study repositions Zakat—Islam’s divine tax—as radical antidote to neoliberal excess. Synthesizing juristic rigor with empirical analysis, it asserts stocks asset-backed sukuk as Zakatable under Urud al-Tijarah, contingent on trade intent Shariah compliance. Indonesia’s BAZNAS emerges paradigmatic, diverting 12% of $700M annual Zakat from equities uplift 15,000 families, while Malaysia’s automated systems Saudi profit-levies reveal scalable blueprints. Yet $1 in uncollected persists, shackled by bond-based riba, regulatory disarray, valuation ambiguities. The work champions blockchain traceability, AI-driven compliance, harmonized frameworks unlock Zakat’s latent power. By fusing prophetic ethics fintech innovation, research reengineers capitalism’s DNA—transforming speculative markets into conduits sacred equity, where prosperity is not hoarded but flowed, Imam Al-Ghazali envisioned, every corner our parched world.

Language: Английский

Citations

0