APPLICATION OF ZAKAT

Zakat, being the third pillar of Islam, is an act of worship fulfilled by Muslims. As an obligatory means of alms- giving expected of Muslims, it also helps to alleviate poverty in society by assisting such individuals to achieve a state of financial independence. It is maintained by Muslims that the principles of zakat derived from the Sharia are expected to remain unchanged with passing time. However, in order to achieve efficiency in the administration of zakat, innovation and technology can be used even within the parameters of Sharia. The objective of this textbook is to provide the opportunity to learn the basics of zakat and its contemporary application by highlighting the innovative practices of zakat with issues and challenges.

Contents:
Overview of the Institution of ZakatZRole of Zakat in Alleviating Poverty in Muslim Societies: Past and PresentSimilarities and Differences between Zakat, Tax, Sadaqat, and WaqfTypes of Zakat and Zakatable WealthConditions to Give ZakatZakat Socio-financial Products for Its Recipients and Their Economic ImpactCalculation of ZakatAdministration of ZakatRole of Zakat in Achieving Sustainable Development GoalsUse of Technology to Enhance Zakat AdministrationZakat Management ProgramsContemporary Issues and Challenges in Zakat Administration
Readership: Undergraduate students in Islamic Studies/Islamic Finance.

Key Features: It is a textbook on zakat which is rare to find in the market Simple language is used Suitable for undergraduate students as well as postgraduate students Review questions are provided at the end of each chapter Case studies have been also used to illustrate practice