Disclosure of Zakat Information: Is it Important?

Abstract

Despite the high collection of Zakat fund, hardcore poverty among Muslims is still exist especially in rural area. The difficulties in the application process as compared to payment are also give bad impressions to Zakat institutions. This situation sparks public debate on how Zakat fund being managed by this institution. Why there are so many ways to pay Zakat and the process has been simplified years to years as compared to application process. Adding to this, Zakat information especially on the financial report sometimes is hardly accessible for public viewing. Thus this study explores the needs of Zakat institutions to disclose Zakat information. The aim is to show the importance of information disclosure to hinder public misconception towards the management of Zakat institutions. The data was gathered through various documents publish by Zakat institutions together with interview with key informants to explore why it is so difficult for some of the Zakat institutions to disclosed their information. Based on the observation completed in this study it is found that Zakat institutions do prepare the information especially financial statement but generally the information cannot be disclosed due to autocracy matters. This study reveals that there is a general misconception towards Zakat institutions.

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Author Information
Roshaiza Taha, Universiti Malaysia Terengganu, Malaysia
Nurul Nurhidayatie Muhamad Ali, Universiti Malaysia Terengganu, Malaysia
Muhammad Faris Zulkifli, Universiti Malaysia Terengganu, Malaysia
Muhsin Nor Paizin, Universiti Malaysia Terengganu, Malaysia
Pusat Pungutan Zakat, Universiti Malaysia Terengganu, Malaysia

• Category: ACERP2016, ACP ACERP 2016, Oral Presentation, Paper Available
• Tag: Business and Management Ethics,

Posted by James Alexander Gordon

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