How Zakat Affects Economic Growth In Three Islamic Countries
Zakat as a pillar of development in Islamic economics contributed to the economic development applied in all Caliphate in the Islamic history. By then, this study aims to analyze the effect of zakah on economic growth of three Muslim countries. This study uses a regression estimate of panel data des...
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| Format: | Article |
| Language: | English |
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Muhammadiyah University Press
2023-01-01
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| Series: | Journal of Islamic Economic Laws |
| Subjects: | |
| Online Access: | https://journals2.ums.ac.id/index.php/jisel/article/view/9400 |
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| author | Afief El Ashfahany Awalul Dini Nur Hidayah Lukmanul Hakim Mohd Shahid Bin Mohd Noh |
| author_facet | Afief El Ashfahany Awalul Dini Nur Hidayah Lukmanul Hakim Mohd Shahid Bin Mohd Noh |
| author_sort | Afief El Ashfahany |
| collection | DOAJ |
| description | Zakat as a pillar of development in Islamic economics contributed to the economic development applied in all Caliphate in the Islamic history. By then, this study aims to analyze the effect of zakah on economic growth of three Muslim countries. This study uses a regression estimate of panel data designed to determine the impact of zakat on economic growth with a sample of three Islamic countries in 2003-2020. The results of this study indicate that zakat distribution and population growth have a positive and significant effect on economic growth in three Islamic countries, namely Indonesia, Malaysia and Singapore in 2003-2020. Thus, it can create evidence that zakat can affect economic growth, especially in Islamic countries. This research also supports that zakat should be included in fiscal instrument in today’s world, not only tax. Based on the results of the research above, the student recommend that zakat be included in fiscal policy as is the case with taxes. |
| format | Article |
| id | doaj-art-d83b0224d5bf4f5daa7dffe3ba321ecc |
| institution | Kabale University |
| issn | 2655-9609 2655-9617 |
| language | English |
| publishDate | 2023-01-01 |
| publisher | Muhammadiyah University Press |
| record_format | Article |
| series | Journal of Islamic Economic Laws |
| spelling | doaj-art-d83b0224d5bf4f5daa7dffe3ba321ecc2025-08-20T03:50:11ZengMuhammadiyah University PressJournal of Islamic Economic Laws2655-96092655-96172023-01-01456110.23917/jisel.v6i1.212429463How Zakat Affects Economic Growth In Three Islamic CountriesAfief El Ashfahany0Awalul Dini Nur Hidayah1Lukmanul Hakim2Mohd Shahid Bin Mohd Noh3Universitas Muhammadiyah Surakarta, IndonesiaUniversitas Muhammadiyah Surakarta, IndonesiaUniversitas Muhammadiyah Surakarta, IndonesiaUniversiti Malaya, MalaysiaZakat as a pillar of development in Islamic economics contributed to the economic development applied in all Caliphate in the Islamic history. By then, this study aims to analyze the effect of zakah on economic growth of three Muslim countries. This study uses a regression estimate of panel data designed to determine the impact of zakat on economic growth with a sample of three Islamic countries in 2003-2020. The results of this study indicate that zakat distribution and population growth have a positive and significant effect on economic growth in three Islamic countries, namely Indonesia, Malaysia and Singapore in 2003-2020. Thus, it can create evidence that zakat can affect economic growth, especially in Islamic countries. This research also supports that zakat should be included in fiscal instrument in today’s world, not only tax. Based on the results of the research above, the student recommend that zakat be included in fiscal policy as is the case with taxes.https://journals2.ums.ac.id/index.php/jisel/article/view/9400zakateconomic growthpopulation growth |
| spellingShingle | Afief El Ashfahany Awalul Dini Nur Hidayah Lukmanul Hakim Mohd Shahid Bin Mohd Noh How Zakat Affects Economic Growth In Three Islamic Countries Journal of Islamic Economic Laws zakat economic growth population growth |
| title | How Zakat Affects Economic Growth In Three Islamic Countries |
| title_full | How Zakat Affects Economic Growth In Three Islamic Countries |
| title_fullStr | How Zakat Affects Economic Growth In Three Islamic Countries |
| title_full_unstemmed | How Zakat Affects Economic Growth In Three Islamic Countries |
| title_short | How Zakat Affects Economic Growth In Three Islamic Countries |
| title_sort | how zakat affects economic growth in three islamic countries |
| topic | zakat economic growth population growth |
| url | https://journals2.ums.ac.id/index.php/jisel/article/view/9400 |
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