Al-Qardawi's Thought on Zakat of Stocks in a Modern Industry: an Experience of Indonesia
DOI:
https://doi.org/10.24090/mnh.v13i2.2023Keywords:
Al-Qardawi's thought, stock zakat, modern industry, IndonesiaAbstract
This paper studies on al-Qaradawi's stock zakat in the millennial era and modern industry. The main purpose of the study is to elaborate several points of significance of stock zakat within huge benefits of the capital market in Indonesia; therefore, this paper is a content analysis type of study using a literature study approach. In the meantime, the primary resource for the literature is a kitab (book) entitled fiqh al-zakat by Yusuf al-Qaradawi published in 1973. The crucial point emphasized by the paper is that al-Qaradawi's thoughts and opinions on stock zakat have been proven that he was such a progressive ulama (Islamic scholar), even he is in the current industrial revolution era. He has shown that such critical and innovative thoughts, either in zakat or other aspects. Al-Qaradawi points out that stock is categorized into traded goods so that it is an object of zakat; 2.5% of total stock should be taken out to those deserving. Indonesia as a country with the biggest Muslim majority in the world has been implementing stock zakat when one of the companies namely PT Henan Putihrai Sekuritas issued this kind of zakat. This made Indonesia the first country to proceed with stock zakat as the application of al-Qaradawi's thoughts and opinions after 45 years.Downloads
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References
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Zedan, A. M., Yusoff, M. Y. Z. B. M., & Mohamed, M. R. B. (2015). An Innovative Teaching Method in Islamic Studies: The Use of PowerPoint in University of Malaya as Case Study. Procedia - Social and Behavioral Sciences, 182, 543-549. https://doi.org/10.1016/j.sbspro.2015.04.776.
Zulkifli, H. (2013). Yusuf al-Qaradawi dan Sumbangan Pemikirannya. Global Journal Al Thaqafah, 3 (1), 49-64. https://doi.org/10.7187/GJAT332013.03.01.
Ahmad, N. W., & Ripain, N. (2014). Investment In Stock Market: A Review On Islamic Perspectives, 11.
Al-Qardawi, Y., & Monzer, K. (2000). Fiqh al zakah a comparative study of zakah, regulations and philosophy in the light of qur̕an and sunnah. Jeddah (Saudi Arabia): King Abdulaziz University.
Alam, N., & Rajjaque, M. S. (2016). Shariah-Compliant Equities: Empirical Evaluation of Performance in the European Market during Credit Crunch, 19.
Astuty, D. W. (2015). The Extraordinary Solution for Indonesia Economic Crisis: Shariah Capital Market. Journal of Islamic Banking and Finance, 3(2). https://doi.org/10.15640/jibf.v3n2a5.
Aziz, J. A. (2018). Dekonstruksi paradigmatik pengembangan zakat: analisis kritis pemikiran Yusuf al-Qaradawi. Ijtihad: Jurnal Wacana Hukum Islam dan Kemanusiaan, 17(2), 191. https://doi.org/10.18326/ijtihad.v17i2.191-215.
Dakhoir, A. (2015). Bank Zakat (Gagasan, Tatanan dan Penerapan Pengelolaan Zakat Terintegrasi). Al-Manahij: Jurnal Kajian Hukum Islam, 9(1), 141–154. https://doi.org/10.24090/mnh.v9i1.517.
Dakhoir, A., Luth, T., Ruba'i, M., & Syafa’at, R. (2014). The Bank of Alm (Zakat): Ideas, Structure, and the Implementation of the Integrated Alm Management, 11.
Firdaus, M., Beik, I. S., & Irawan, T. (t.t.). Economic Estimation and Determinations of Zakat Potential in Indonesia, 74.
Gilder, G. F. (2012). Wealth and poverty: a new edition for the twenty-first century. Washington, D.C.: New York: Regnery Pub. Distributed to the trade by Perseus Distribution.
Godlewski, C. J., Turk-Ariss, R., & Weill, L. (2013). Sukuk vs. conventional bonds: A stock market perspective. Journal of Comparative Economics, 41(3), 745-761. https://doi.org/10.1016/j.jce.2013.02.006.
Halimatussadiyah, I. (2015). Zakat and Social Protection: The Relationship Between Socio-religious CSOs and the Government in Indonesia. Journal of Civil Society, 11(1), 79-99. https://doi.org/10.1080/17448689.2015.1019181.
Hanson, J. L. (1972). A textbook of economics (6th ed). London: Macdonald and Evans.
Huda, N., Anggraini, D., Ali, K. M., Rini, N., & Mardoni, Y. (2014). Solutions to Indonesian Zakah ProblemsAnalytic Hierarchy Process Aprroach. Banking and Finance, 10(3), 17.
Https://id.wikipedia.org/wiki/Yusuf_al-Qaradawi.
Islahi, A. A., & Obaidullah, M. (t.t.). Zakah On Stocks: Some Unsettled Issues, 15.
Kamla, R., Gallhofer, S., & Haslam, J. (2006). Islam, nature and accounting: Islamic principles and the notion of accounting for the environment. Accounting Forum, 30(3), 245-265. https://doi.org/10.1016/j.accfor.2006.05.003.
Rahman, A. A. (t.t.). Zakat Institution in Malaysia: Problems and Issues, 8.
Rahman, S. (2015). Ethical Investment in Stock Screening and Zakat on Stocks. Journal of Islamic Finance, 4(1), 39–62. https://doi.org/10.12816/0024800.
Retsikas, K. (2014). Reconceptualising Zakat In Indonesia: Worship, philanthropy and rights. Indonesia and the Malay World, 42(124), 337-357. https://doi.org/10.1080/13639811.2014.951519.
Rosele, M. I., Abdullah, L. H., & Ali, A. K. (t.t.). Zakah On Shares: Theory And Reality In Malaysia, 5.
Rosele, M. I., Abdullah, L. H., & Ramli, M. A. (2003). Al-Qaradawi's Juristic Perspectives On Zakah of Agricultural Wealth as Reflected in His Fiqh Al Zakah, 12.
Surat Keputusan Dewan Komisioner Otoritas Jasa Keuangan, 22 November 2017, Nomor 59/D.04/2017.
Stiglitz, J. E. (2000). Capital Market Liberalization, Economic Growth, and Instability. World Development, 28(6), 1075-1086. https://doi.org/10.1016/S0305-750X(00)00006-1.
Tag El-Din, S. (1996). The Stock-Exchange from an Islamic Perspective. Journal of King Abdulaziz University-Islamic Economics, 8(1), 31-50. https://doi.org/10.4197/islec.8-1.2.
Tulasmi, T., & Trihariyanto, R. R. (2016). Performance of islamic stocks index: comparative studies between indonesia and malaysia. SIGNIFIKAN: Jurnal Ilmu Ekonomi, 5(1). https://doi.org/10.15408/sjie.v5i1.3127.
Zedan, A. M., Yusoff, M. Y. Z. B. M., & Mohamed, M. R. B. (2015). An Innovative Teaching Method in Islamic Studies: The Use of PowerPoint in University of Malaya as Case Study. Procedia - Social and Behavioral Sciences, 182, 543-549. https://doi.org/10.1016/j.sbspro.2015.04.776.
Zulkifli, H. (2013). Yusuf al-Qaradawi dan Sumbangan Pemikirannya. Global Journal Al Thaqafah, 3 (1), 49-64. https://doi.org/10.7187/GJAT332013.03.01.
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Published
28-11-2019
How to Cite
Dakhoir, A. (2019). Al-Qardawi’s Thought on Zakat of Stocks in a Modern Industry: an Experience of Indonesia. Al-Manahij: Jurnal Kajian Hukum Islam, 13(2), 159–168. https://doi.org/10.24090/mnh.v13i2.2023
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