Zakat Standard Framework of Halal Cryptocurrency

Beik, Irfan Syauqi; Nurzaman, Mohamad; Sari, Aisha Putrina

doi:10.1007/978-3-030-10749-9_17

Cited by 11 publications

(24 citation statements)

References 7 publications

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“…The ease of use of technology has changed the traditional financial services towards fintech based which has enhanced several factors such as security and privacy (Qureshi et al, 2008). These factors support the features in the blockchain that provide fast transaction and accessibility of the technology (Puschmann, 2017;Beik et al, 2019). The hypothesis is developed as below:…”

Section: Background Of the Studymentioning

confidence: 94%

The role of blockchain technology in enhancing Islamic social finance: the case of Zakah management in Malaysia

Nor

Mariani

Esrati³

2021

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Purpose This study aims to explore the perceptions of zakah institutions and the intention of society towards the application of blockchain technology in zakah management. Design/methodology/approach The nature of this study is qualitative, attempting to indulge into the contribution of Fintech in Islamic social finance. This study uses a mixed-method to gauge the perception of stakeholders. For the quantitative approach, a survey was carried out focussing on zakah receiver and zakah payer. The data then was analysed based on the technology acceptance model. While interview survey with multiple stakeholders (zakah institutions, JAWHAR and university) was conducted to gauge the perception of zakah institutions in using blockchain technology. Findings The findings of this study provide a positive view for zakah institutions to embrace the usage of blockchain in its management, however, there are several concern that needs to be addressed. Practical implications This study provides new insights to the body of knowledge especially in the zakah management system and Fintech. Besides, from a managerial aspect, this study contributes to the new practices that could be implemented in zakah institutions. Social implications Many people lose jobs and income due to the economic turmoil and COVID-19 pandemic, which makes zakah an important Islamic social finance tool to assist in socio-economic development. It is high time for zakah institutions to implement blockchain especially during this pandemic crisis that requires a more contactless approach to ensure health and safety. Originality/value This study is important to encourage Islamic social finance institutions to embrace blockchain technology in providing an efficient service to the development of social and economic.

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Section: Background Of the Studymentioning

confidence: 94%

The role of blockchain technology in enhancing Islamic social finance: the case of Zakah management in Malaysia

Nor

Mariani

Esrati³

2021

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“…Islam has several instruments of social funds in hacking poverty and dividing it into three parts including zakat, infaq and waqf. Some research that support the role of zakat allevating poverty are research by Sadeq [1], Beik [2] Beik and Arsyianti [3] , Nurzaman, Jatmiko and Annisa [4].…”

Section: Graph 1: Percentage Of Poverty In West Java and West Bandungmentioning

confidence: 99%

The Effectiveness of Zakat Utilization Program Based on Integrated Community Development in West Bandung Regency (Case Study of Assisted Village by Rumah Zakat)

Nurhasanah¹,

Nurzaman²,

Wibisono³

2019

Proceedings of the 2018 International Conference on Islamic Economics and Business (ICONIES 2018)

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This paper aims to determine the effectiveness of zakat utilization based on Integrated Community Development (ICD) to affect the improvement of welfare. This study not only measures the level of welfare of the community but also mustahiq community members in Mekarwangi Village after the intervention of ICD-based zakat program. Recently, this research is still infrequent; further, there is no standardized assessment tool to measure the welfare of mustahiq community. This paper used Zakat Village Index instrument to measure the welfare of mustahiq community and CIBEST model to measure welfare of mustahiq community members.By using mixed method approach and multi stage cluster sampling by an interview by questioner.The results showed that the ICD-based zakat utilization program in Mekarwangi Village was quite successful but not significant in improving community welfare with the result of the Zakat village index of 0.59 influenced by the low economic dimension by 0.32 and the spread of the ICD program of Rumah Zakat that has not been evenly distributed in Mekarwangi Village. After intervention by ICD-based zakat program is able to increase welfare index of the mustahiq community members by 67 percent. The material poverty index, spiritual poverty and absolute poverty index can also be reduced by 36 percent, 11 percent and 20 percent,respectively.

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“…The Zakat Village Index is an instrument adopted from Puskas BAZNAS as a tool to assess feasibility for receiving charity and for monitoring and evaluating a communitybased zakat program [11]. In general, the Zakat Village Index has five dimensions: economic, educational, health, social and humanity, and da'wah.…”

Section: Zakat Village Indexmentioning

confidence: 99%

“…Beik et al [11] determined some procedures in calculation of the Zakat Village Index, first, assessment criteria of each indicator using a 5-point Likert scale. As in Table II, the higher the village's index value, the less the village is prioritized for help.…”

Section: B Estimation Techniquesmentioning

confidence: 99%

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Feasibility Study for Distribution of Zakat to Mustahiq Community in West Bandung: A Village Assisted by Rumah Zakat

Nurhasanah¹,

Nurzaman²,

Wibisono³

2019

Proceedings of the 3rd Asia-Pacific Research in Social Sciences and Humanities Universitas Indonesia Conference (APRISH 2018)

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This paper assessed the feasibility of communitybased zakat recipients and recommended relevant programs to alleviate mustahiq community conditions in West Bandung District. Research on feasibility studies for community-based zakat programs is still infrequent. Furthermore, no standardized assessment tool has been designed to measure the feasibility of becoming a zakat recipient based on characteristics of the community. Therefore, this study used the Village Zakat Index (IDZ) instrument adopted from Puskas BAZNAS. IDZ was derived from the average calculation of five dimensions of economics, health, education, social and humanity, and da'wah in the community by using a mixed methods approach and multistage cluster sampling. Results showed that Mekarwangi Village in West Bandung District could be helped by the charity fund based on calculation of IDZ that reached 0.59. Meanwhile, the detailed index of each dimension's economic conditions was 0.32; the educational and health were 0.64 and 0.52 respectively. Dimension of Social and humanity was 0.71 and 0.80 for the da'wah dimension. Based on these results, the program relevant to the condition of the mustahiq community in West Bandung District Mekarwangi Village was community economic improvement through empowerment of economic potential.

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Zakat Standard Framework of Halal Cryptocurrency

Cited by 11 publications

References 7 publications

The role of blockchain technology in enhancing Islamic social finance: the case of Zakah management in Malaysia

The role of blockchain technology in enhancing Islamic social finance: the case of Zakah management in Malaysia

The Effectiveness of Zakat Utilization Program Based on Integrated Community Development in West Bandung Regency (Case Study of Assisted Village by Rumah Zakat)

Feasibility Study for Distribution of Zakat to Mustahiq Community in West Bandung: A Village Assisted by Rumah Zakat

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