Utilization and Accounting of Zakat for Productive Purposes in Indonesia: A Review

Alim, Mohammad Nizarul

doi:10.1016/j.sbspro.2015.11.028

Cited by 68 publications

(68 citation statements)

References 1 publication

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“…Combining the IFRS and local standard is critical so that the zakat institution can be more transparent and stakeholders can also fully support the development of zakat institution in the future, considering the argument from Alkhtani (2012) which stated that the IFRS provides useful information for decision making. This combination also will answer critics about PSAK 109 from Alim (2015) which proposed that there must be a revision on PSAK 109 particularly in the issue about zakat for productive purpose. explains the reason why IFRS is important for SDGs.…”

Section: Step By Step Transitioning Proposal To Adopt the Ifrs Stamentioning

confidence: 88%

“…As in Indonesia, the financial accounting standard for zakat institution is regulated by the Indonesian Accounting Council (IAI) in the National Accounting Standard (PSAK) for Sharia no 109 about zakat infaq and shadaqa. (Alim; criticized that the application of zakat for productive purpose, which is using the qard hasan (loan) is not permissible in Islam. Therefore, (Alim; suggests that PSAK 109 must be reviewed from fiqh perspectives and IAI must developed the new mechanism and financial reporting for zakat for productive purpose that compatible with fiqh issues.…”

Section: A Introductionmentioning

confidence: 99%

“…(Alim; criticized that the application of zakat for productive purpose, which is using the qard hasan (loan) is not permissible in Islam. Therefore, (Alim; suggests that PSAK 109 must be reviewed from fiqh perspectives and IAI must developed the new mechanism and financial reporting for zakat for productive purpose that compatible with fiqh issues.…”

Section: A Introductionmentioning

confidence: 99%

See 2 more Smart Citations

IFRS based Zakat Reporting: Adoption Rational WesternMethod into Institutional Accountability

Pamuncak

Possumah

Halim

2018

JURNAL EKONOMI DAN BISNIS ISLAM

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This study aims to evaluate the characteristics of zakat institution and proposes the adoption of International Financial Reporting Standard (IFRS) since it has developed and provides various product i.e zakat for productive purpose. This is important, considering that one of the measurement of accountability and transparency of an institution is providing brief financial report towards its beneficaries. Thereby, this study found that practically zakat institution is simillar to the SMEs, and there are 11 strandard of IFRS for SMEs that could be applicable to zakat institutionto achieve accountability and transparency. However, this study is preliminary study that proposes a conceptual frameworkwhich limited to the sharia compliance of IFRS that could be applicable to zakat Institution.Keywords: IFRS for SMEs, SMEs Criteria, Zakat InstitutionJEL Classification:

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Section: Step By Step Transitioning Proposal To Adopt the Ifrs Stamentioning

confidence: 88%

Section: A Introductionmentioning

confidence: 99%

Section: A Introductionmentioning

confidence: 99%

See 1 more Smart Citation

IFRS based Zakat Reporting: Adoption Rational WesternMethod into Institutional Accountability

Pamuncak

Possumah

Halim

2018

JURNAL EKONOMI DAN BISNIS ISLAM

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“…Zakat management by amil zakat has several advantages, to ensure the certainty and discipline of paying zakat, maintaining the self-esteem of the zakat mustahqq when dealing directly with zakat from obligatory zakat (muzakki), achieving efficiency and effectiveness and proper targeting in the use of zakat price according to priority scale which is somewhere. Alim (2015) organizational management of zakat has an important role in the management of zakat, receive zakat from muzaki and channel it to mustahiq. One of the great ideas of managing zakat management as stipulated in Law No.…”

Section: The Legal Basis Of Zakatmentioning

confidence: 99%

Zakah Organization as the Fourth Sector

Santoso¹

2017

IJEF

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The purpose of this study is to analyze the basic values that make up a zakat management organization. Then compare it to the basic values of other forms of organization (private sector, public sector and Non-Public Organizatio sector). The method used with a critical perspective approach. Through this approach, a critical analysis of the profile of the organizational entity of the current zakat managers and then each entity profile is reconstructed based on governance and organizational theories. Reconstruction stage starts by reconstructing zakat management organization as zakat management organization as business entity, organization of zalcat management as public sector entity then organization of zakat management as sector of non public organization.The result of the study shows that the basic value of zakat management organization is very different from 3 (three) other sectors. Therefore the organizational form of zakat management is not part of the three, it is the fourth sector organization, the zakat organization.

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“…Dengan dasar ini, penelitian tentang zakat sangat penting dilakukan terutama pada model pengelolaan zakat perusahaan. Selain itu, sampai saat ini, pengelolaan zakat masih didominasi oleh zakat perorangan (Istutik, 2013;Alim, 2015), sehingga zakat perusahaan sangat berpotensi bagi sumber penerimaan (Ibrahim, Ridzwan, & Kadir, 2016;Alvi, 2015;Almarri & Meewella, 2015).…”

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Model Pengelolaan Zakat Perusahaan

Rahim

Sahrullah

2017

jamal

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Abstrak Penelitian ini bertujuan mengungkap pengelolaan zakat perusahaan pada Bosowa Group Financial Service Makassar. Metode yang digunakan adalah deskripsi kualitatif dengan pendekatan studi kasus. Informan meliputi perusahaan asuransi dan multifinance. Hasil penelitian menunjukkan bahwa perhitungan zakat pada Bosowa Group dilakukan ketika jumlah laba perusahaan memenuhi nisab yang dihitung berdasarkan ketentuan 2,5%. Ketika perusahaan tidak mendapatkan laba, maka pengeluaran kegiatan amal diakui sebagai sedekah. Bosowa Group mengikuti model perhitungan dan pengelolaan zakat dari Syarikat Tafakul Malaysia Sdn Berhand.

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Utilization and Accounting of Zakat for Productive Purposes in Indonesia: A Review

Cited by 68 publications

References 1 publication

IFRS based Zakat Reporting: Adoption Rational WesternMethod into Institutional Accountability

IFRS based Zakat Reporting: Adoption Rational WesternMethod into Institutional Accountability

Zakah Organization as the Fourth Sector

Model Pengelolaan Zakat Perusahaan

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