Economic Approaches of Zakat Management Institutions in Malaysia
Zakaria Bahari
Centre for Islamic Development Management (ISDEV)
Universiti Sains Malaysia 11800 USM, Pulau Pinang
Abstract
This paper aims to identify the types of economic approaches, philosophies and economic theories used in the implementation of productive zakat in zakat institutions in Malaysia. This study is a qualitative study using information from the field through zakat practitioners at zakat institutions as well as secondary data from journal materials, reports, websites and books. This study used conventional content analysis to analyse data. The findings show that the form of economic approach applied is self-serving, collaboration between zakat institutions and smart cooperation approaches with external agencies. The philosophy of economics is to use fishing rod and not the fishes, and no economic theory is applied. Zakat institutions provide the programs through capital assistance, courses, training skills and equipment assistance.
Keywords: Zakat Distribution, Productive Zakat, Economy Approach
Topic: Economics and Islamic economics