Bridging Islamic Philanthropy and Digital Economy: A Maqashid Shariah Model for Zakat on Digital Assets
DOI:
https://doi.org/10.15408/aiq.v17i2.44928Keywords:
zakat, Maqashid Syariah, aset digital, blockchain, keuangan IslamAbstract
The rapid digital transformation has given rise to various new forms of assets which challenge the zakat framework in Islamic finance. This research explores the integration of Maqashid Shariah in development of zakat model for digital assets to ensure compliance with Islamic economic principles. An exploratory qualitative approach is used to analyze classical fiqh literature, contemporary fatwas, and experts' views. The results show that digital assets that fulfill the criteria of full ownership and growth potential can be subject to zakat. Blockchain technology and smart contracts can potentially increase transparency and efficiency in zakat management. The proposed model contributes to Islamic financial inclusion, regulatory strengthening, and modernization of zakat institutions.
Keywords: zakat; maqashid sharia; digital assets; blockchain; islamic finance
Abstrak
Transformasi digital yang pesat telah melahirkan berbagai bentuk aset baru yang berimplikasi pada kerangka zakat dalam keuangan Islam. Penelitian ini mengeksplorasi integrasi Maqashid Syariah dalam pengembangan model zakat untuk aset digital guna memastikan kepatuhan terhadap prinsip ekonomi Islam. Pendekatan kualitatif eksploratif digunakan dengan menganalisis literatur fiqh klasik, fatwa kontemporer, dan pandangan para ahli. Hasil penelitian menunjukkan bahwa aset digital yang memenuhi kriteria kepemilikan penuh dan berpotensi berkembang dapat dikenakan zakat. Selain itu, teknologi blockchain dan smart contracts berpotensi meningkatkan transparansi dan efisiensi dalam pengelolaan zakat. Model yang diusulkan berkontribusi pada inklusi keuangan Islam, penguatan regulasi, dan modernisasi lembaga zakat.
Kata Kunci: zakat; maqashid syariah; aset digital; blockchain; keuangan islam
References
Abd. Wahab, N., Zainol, Z., & Abu Bakar, M. (2017). Towards developing service quality index for zakat institutions. Journal of Islamic Accounting and Business Research, 8(3), 326–333. https://doi.org/10.1108/JIABR-09-2015-0040
Abdul-Jabbar, H., & Bin-Nashwan, S. A. (2022). Does deterrence-based enforcement matter in alms tax (Zakat) compliance? International Journal of Social Economics, 49(5), 710–725. https://doi.org/10.1108/IJSE-06-2021-0346
Abdullah, Z., Mohd Sharif, M. H., Saad, R. A. J., Mohd Ariff, A. H., Md Hussain, M. H., & Mohd Nasir, M. H. (2023). Zakat institutions’ adoption of social media. Journal of Islamic Accounting and Business Research, 14(8), 1261–1280. https://doi.org/10.1108/JIABR-01-2022-0013
Ahmed, H. (2024). Security tokens, ecosystems and financial inclusion: Islamic perspectives. International Journal of Islamic and Middle Eastern Finance and Management, 17(4), 730–745. https://doi.org/10.1108/IMEFM-04-2024-0195
Al-Daihani, M., Dirie, K. A., Alam, M. M., & Abdullah, A. S. (2023). Business process model for “crowdfunding cash waqf model.” Journal of Islamic Accounting and Business Research, 16(1), 147–169. https://doi.org/10.1108/JIABR-02-2023-0046
Aliyu, S., Abd Wahab, N., & Kamis, N. S. (2025). An analysis of crypto-asset trade, enforcement, and estate planning. Borsa Istanbul Review, 25(1), 206–226. https://doi.org/10.1016/j.bir.2024.12.008
Alyusufi, A. O. A., & Nukhba, G. M. (2024). Strengthening Zakat Management in Afghanistan : Lessons from Indonesia and Malaysia Legal Frameworks. 16(December), 209–234.
Asni, F., Zulkifli, M. I., & Yusli, Y. (2024). Acceptance of Zakat institutions in Malaysia towards Micro Credit-Qard Hasan financing through Zakat fund (MCZF) for post-pandemic Asnaf entrepreneurs. Journal of Islamic Accounting and Business Research. https://doi.org/10.1108/JIABR-04-2024-0132
Azam, M. S. (2015). Diffusion of ICT and SME performance. Advances in Business Marketing and Purchasing, 23A, 7–290. https://doi.org/10.1108/S1069-096420150000023005
Behl, A., Pereira, V., Nigam, A., Wamba, S., & Sindhwani, R. (2024). Knowledge development in non-fungible tokens (NFT): a scoping review. Journal of Knowledge Management, 28(1), 232–267. https://doi.org/10.1108/JKM-12-2022-0937
Bin-Nashwan, S. A., Muneeza, A., Ismaiel, A. E. A., Mohamed, I., Bajary, A. R., & Obaid, M. M. (2024). Will Muslims integrate an Islamic accounting principle (zakat) into the financial paradigm reshaped by cryptocurrencies? Insights into cryptocurrencies holder perspectives. Journal of Financial Reporting and Accounting. https://doi.org/10.1108/JFRA-04-2024-0201
Binti Tamby Omar, A., Arshad, R., & Mat Isa, R. (2024). A tie strength framework for improving the poor asnaf students’ normative commitment and behaviour. Journal of Islamic Accounting and Business Research. https://doi.org/10.1108/JIABR-07-2022-0185
Busari, S. A., & Aminu, S. O. (2021). Application of blockchain information technology in Ṣukūk trade. Journal of Islamic Accounting and Business Research, 13(1), 1–15. https://doi.org/10.1108/JIABR-10-2019-0197
Chong, F. H. L. (2021). Enhancing trust through digital Islamic finance and blockchain technology. Qualitative Research in Financial Markets, 13(3), 328–341. https://doi.org/10.1108/QRFM-05-2020-0076
Farooq, M. S., Khan, M., & Abid, A. (2020). A framework to make charity collection transparent and auditable using blockchain technology. Computers and Electrical Engineering, 83. https://doi.org/10.1016/j.compeleceng.2020.106588
Given, L. M., Case, D. O., & Willson, R. (2023). Research Design, Methodologies, and Methods. In Looking for Information (Vol. 15, pp. 179–235). Emerald Publishing Limited. https://doi.org/10.1108/S2055-53772023005
Halim, M. A. (2024). Does crowdfunding contribute to digital financial inclusion? Research in Globalization, 9(July 2023), 100238. https://doi.org/10.1016/j.resglo.2024.100238
Han, W. (2022). The capital logic of platform economy globalisation and it’s critique and transcendence. China Political Economy, 5(1), 88–106. https://doi.org/10.1108/cpe-10-2022-0016
Hudaefi, F. A. (2024). Zakat in metaverse? Evidence from cyberspace. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-01-2024-0033
Hunt, K., Narayanan, A., & Zhuang, J. (2022). Blockchain in humanitarian operations management: A review of research and practice. Socio-Economic Planning Sciences, 80(September 2020), 101175. https://doi.org/10.1016/j.seps.2021.101175
Izadin, A. A. I., Mohd. Yusof, R., & Mazlan, A. R. (2025). The integration of Maqasid Shariah in evaluating stablecoins and traditional cryptocurrencies for Islamic portfolios diversification. International Journal of Islamic and Middle Eastern Finance and Management. https://doi.org/10.1108/IMEFM-08-2024-0380
Juniati, W., & Widiastuti, T. (2024). Intention to adopt blockchain technology for zakat management in Indonesia. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-12-2023-0384
Kamal, S., Safarida, N., & Kassim, E. S. (2024). Investigating the role of fiqh zakat knowledge in moderating the behaviour of the Acehnese to pay zakat digitally. Journal of Islamic Marketing, 15(11), 3048–3083. https://doi.org/10.1108/JIMA-02-2023-0055
Kamaruddin, M. I. H., Shafii, Z., Hanefah, M. M., Salleh, S., & Zakaria, N. (2024). Exploring Shariah audit practices in zakat and waqf institutions in Malaysia. Journal of Islamic Accounting and Business Research, 15(3), 402–421. https://doi.org/10.1108/JIABR-07-2022-0190
Kasmon, B., Ibrahim, S. S., Daud, D., Raja Hisham, R. R. I., & Dian Wisika Prajanti, S. (2024). FinTech application in Islamic social finance in Asia region: a systematic literature review. International Journal of Ethics and Systems, 213–237. https://doi.org/10.1108/IJOES-07-2023-0155
Katuk, N., Abd Wahab, N., & Kamis, N. S. (2023). Cryptocurrency estate planning: the challenges, suggested solutions and Malaysia’s future directions. Digital Policy, Regulation and Governance , 25(4), 325–350. https://doi.org/10.1108/DPRG-10-2021-0126
Kismawadi, E. R. (2024). Islamic fintech: navigating the regulatory framework and promoting financial inclusion in Gulf Cooperation Council (GCC) countries. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-02-2023-0061
Maulina, R., Dhewanto, W., & Faturohman, T. (2023). The integration of Islamic social and commercial finance (IISCF): Systematic literature review, bibliometric analysis, conceptual framework, and future research opportunities. Heliyon, 9(11), e21612. https://doi.org/10.1016/j.heliyon.2023.e21612
Muneeza, A., Bin-Nashwan, S. A., Abdel Moshin, M. I., Mohamed, I., & Al-Saadi, A. (2023). Zakat payment from cryptocurrencies and crypto assets. International Journal of Islamic and Middle Eastern Finance and Management, 16(3), 482–497. https://doi.org/10.1108/IMEFM-12-2021-0487
Muryanto, Y. T. (2023). The urgency of sharia compliance regulations for Islamic Fintechs: a comparative study of Indonesia, Malaysia and the United Kingdom. Journal of Financial Crime, 30(5), 1264–1278. https://doi.org/10.1108/JFC-05-2022-0099
Napitupulu, R. M., Sukmana, R., & Rusydiana, A. S. (2024). Governance of Islamic social finance: learnings from existing literature. International Journal of Islamic and Middle Eastern Finance and Management, 17(3), 552–571. https://doi.org/10.1108/IMEFM-06-2023-0222
Nur, H., & Mutiara, T. (2022). Behavioral Intention and Use of Behavior in a. IEEE, 1–6.
Putra, G. D. A., Wira, A., & Novia, A. (2023). Digital Readiness of Zakat Management Organization in. Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah, 15(2), 411–428.
Robbana, A., Akbar, M. A., & Mohd, M. A. Bin. (2024). A structural equation modeling approach to assess the Algerian Zakat payers’ acceptability and adoption of a Zakat fintech-based model proposed. Journal of Islamic Accounting and Business Research. https://doi.org/10.1108/JIABR-09-2024-0352
Rosele, M. I., Muneem, A., Ali, A. K., Che Seman, A., Haji Abdullah, L., Abdul Rahman, N. N., & Sukor, M. E. A. (2025). A proposed zakat model for digital assets from the Shariah perspective. International Journal of Islamic and Middle Eastern Finance and Management. https://doi.org/10.1108/IMEFM-08-2024-0408
Saad, R. A. J., Ahmi, A., Sawandi, N., & Abdul Aziz, N. M. (2023). Zakat administration reformation towards an effective and efficient zakat revenue generation. Journal of Islamic Accounting and Business Research, 14(8), 1232–1260. https://doi.org/10.1108/JIABR-05-2021-0151
Shahid, M., Sulub, Y. A., Mohtesham, M. M. J., & Abdullah, M. (2024). Analyzing the commonalities between Islamic social finance and sustainable development goals. International Journal of Ethics and Systems, 40(2), 381–394. https://doi.org/10.1108/IJOES-04-2022-0082
Shaikh, I. M., & Amin, H. (2024). Technology acceptance determinants and consumer innovativeness influence on ASNAFS’ acceptance towards the use of e-wallet. International Journal of Ethics and Systems. https://doi.org/10.1108/IJOES-06-2023-0126
Sudarwanto, A. S., Kharisma, D. B., & Cahyaningsih, D. T. (2024). Islamic crowdfunding and Shariah compliance regulation: problems and oversight. Journal of Financial Crime, 31(4), 1022–1036. https://doi.org/10.1108/JFC-01-2023-0003
Sumi, A. A., Ahmed, S., & Alam, S. S. (2024). Islamic teachings and environmental corporate social responsibility in Bangladesh: a mixed-methods research approach. Journal of Islamic Marketing, 15(4), 1155–1182. https://doi.org/10.1108/JIMA-09-2023-0271
Tahiri Jouti, A. (2020). The Fourth Market theory and interest rate benchmarking in the Islamic finance industry. ISRA International Journal of Islamic Finance, 13(1), 46–65. https://doi.org/10.1108/IJIF-05-2020-0094
Testa, S., Atawna, T., Baldi, G., & Cincotti, S. (2022). The innovation potential of Islamic crowdfunding platforms in contributing to sustainable development. European Journal of Innovation Management, 25(6), 1008–1035. https://doi.org/10.1108/EJIM-11-2021-0547
Tlemsani, I., Zaman, A., Mohamed Hashim, M. A., & Matthews, R. (2023). Digitalization and sustainable development goals in emerging Islamic economies. Journal of Islamic Accounting and Business Research. https://doi.org/10.1108/JIABR-03-2023-0092
Tumewang, Y. K., Rahmawati Dewi, H., & Amin, H. (2023). Over a decade of maqashid sharia studies: a bibliometric analysis and direction for future research. Journal of Islamic Accounting and Business Research, 16(1), 25–52. https://doi.org/10.1108/JIABR-08-2022-0207
Widiastuti, T., Cahyono, E. F., Zulaikha, S., Mawardi, I., & Al Mustofa, M. U. (2021). Optimizing zakat governance in East Java using analytical network process (ANP): the role of zakat technology (ZakaTech). Journal of Islamic Accounting and Business Research, 12(3), 301–319. https://doi.org/10.1108/JIABR-09-2020-0307
Withorn, T., Eslami, J., Lee, H., Clarke, M., Gardner, C. C., Springfield, C., Ospina, D., Andora, A., Castañeda, A., Mitchell, A., Kimmitt, J. M., Vermeer, W., & Haas, A. (2021). Library instruction and information literacy 2020. In Reference Services Review (Vol. 49, Issues 3–4). https://doi.org/10.1108/RSR-07-2021-0046
Withorn, T., Messer Kimmitt, J., Gardner, C. C., Andora, A., Springfield, C., Ospina, D., Clarke, M., Martinez, G., Castañeda, A., Haas, A., & Vermeer, W. (2020). Library instruction and information literacy 2019. Reference Services Review, 48(4), 601–682. https://doi.org/10.1108/RSR-08-2020-0057
Wiwoho, J., Trinugroho, I., Kharisma, D. B., & Suwadi, P. (2024). Islamic crypto assets and regulatory framework: evidence from Indonesia and global approaches. International Journal of Law and Management, 66(2), 155–171. https://doi.org/10.1108/IJLMA-03-2023-0051
Yasmeen, K. (2024). Framework for Islamic social entrepreneurship. Journal of Islamic Accounting and Business Research. https://doi.org/10.1108/JIABR-08-2023-0256
Zaman, A., Tlemsani, I., Matthews, R., & Mohamed Hashim, M. A. (2023). Assessing the potential of blockchain technology for Islamic crypto assets. Competitiveness Review, 35(2), 229–250. https://doi.org/10.1108/CR-05-2023-0100
