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Estimation Of Zakat Proceeds In Bangladesh: A Two-Approach Attempt

Author

Listed:
  • Rizaldi Yusfiarto

    (UIN Sunan Kalijaga Yogyakarta, Indonesia)

  • Rashed Jahangir

    (Department of Islamic Economics and Finance, Istanbul Sabahattin Zaim University, Istanbul, Turkey)

  • Mehmet Bulut

    (Department of Islamic Economics and Finance, Istanbul Sabahattin Zaim University, Istanbul, Turkey)

Abstract

The purpose of this study is to calculate Zakat proceeds in Bangladesh by using both classical and contemporary or alternative Zakat calculation methods. The results reveal that the percentage of Zakat amount to GDP is significantly higher than the average, i.e., 2.5-3%; under the classical and alternative approaches, the Zakat proceeds are estimated as 3.79 and 2.33 percent of GDP, respectively.

Suggested Citation

  • Rizaldi Yusfiarto & Rashed Jahangir & Mehmet Bulut, 2022. "Estimation Of Zakat Proceeds In Bangladesh: A Two-Approach Attempt," Journal of Islamic Monetary Economics and Finance, Bank Indonesia, vol. 8(1), pages 133-148, February.
    • Handle: RePEc:idn:jimfjn:v:8:y:2022:i:1g:p:133-148
    DOI: https://doi.org/10.21098/jimf.v8i1.1455
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    More about this item

    Keywords

    Zakat; Economic growth; Poverty alleviation; Islamic social finance;
    All these keywords.

    JEL classification:

    • B55 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Social Economics
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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