UNIVERSITY OF MANAGEMENT AND TECHNOLOGY

News and Announcement

Department of Banking and Finance Conducted Webinar on the "Zakat/Sadaqat Based Economic Redistribution to Target SGD"

Tuesday, September 21, 2021

The Department of Banking and Finance, Dr Hasan Murad School of Management conducted a webinar on the “Zakat/Sadaqat Based Economic Redistribution to Target SGDs”. 

Overview:

Zakat is an obligation on a Muslim, and its management is an obligation on the Islamic economy. Masarif e Zakat are already defined in Shari’ah, and their applications and implications are widely discussed in the literature. Zakat works as a localized and targeted intervention approach compared to the taxation system, which is a centralized and generalized intervention approach. During the COVID-19 pandemic, the taxation system collapsed as government machinery was not able to feed individuals. In this case, the system of Zakat and Sadaqat had shown its efficacy. This webinar was a continuity of Dr. Hassan Murad School of Management's efforts in synthesizing solutions to social issues prevailing COVID-19. 

Webinar Learning Outcomes

  • Integration of Zakat and Sadaqat framework with national development strategy
  • Implication of Zakat in achieving social goals
  • Takeaways for academia in implementing Zakat awareness in curriculum
  • Takeaways for policymakers in Zakat management

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