Muzakki and Mustahik’s collaboration model for strengthening the fundraising capacity of Islamic social finance institutions during COVID-19

Sri Herianingrum, - and Tika Widiastuti, - and Meri Indri Hapsari, - and Ririn Tri Ratnasari, - and Firmansyah Firmansyah and Shahir Akram Hassan, - and Annisa Rahma Febriyanti and RACHMI CAHYA AMALIA and Luthfi Akmal Muzakki, - (2022) Muzakki and Mustahik’s collaboration model for strengthening the fundraising capacity of Islamic social finance institutions during COVID-19. International Journal of Ethics and Systems. ISSN 2514-9369

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Purpose – This study aims to examine how muzakki (zakat donator) and mustahik (zakat recipients) collaborated to strengthen the fundraising capability in Islamic social finance institutions (ISFIs) during the COVID-19. Design/methodology/approach – This study uses a descriptive qualitative method in conjunction with interview techniques. Interviews with muzakki of various professions were conducted, as well as data from field documentation, to develop a collaborative model of muzakki and mustahik in strengthening the fundraising capacity of ISFIs. Findings – The findings indicate that muzakki employed as civil servants, BUMN (state-owned enterprises) employees and entrepreneurs continue to pay zakat through ISFIs and support mustahik, whereas muzakki affected by the COVID-19 pandemic reduce their zakat spending. Consequently, with the collaboration of mustahik and muzakki, a framework can be developed to strengthen the strategy for raising funds for ISFIs. By empowering mustahik with businesses, ISFIs can increase the collection of zakat funds. Research limitations/implications – The collaboration model would strengthen ISFI’s ability to raise Islamic philanthropic funds and optimize their management. The basis for the regulation is contained in Law No. 23 of 2011 which allows collaboration between institutions and other stakeholders. In addition, the role of ISFIs does not end with the collection and distribution of funds, they also maintain the muzakki and mustahik’s cooperation, so a significant role is required in involving muzakki and mustahik for them to collaborate and synergize, as well as improving the quality of human resource from Amil (zakat collector) to implement the strategy. Originality/value – Few studies have been conducted in collaboration with Muzakki and Mustahik to develop models or frameworks for strengthening fundraising capabilities in ISFIs. Most of these studies are illustrative. Through collaboration between Muzakki and Mustahik, this research establishes a new model for enhancing the strategy of Islamic social finance fund raising to establish a sustainable system for ISFIs.

Item Type: Article
Uncontrolled Keywords: Collaboration model, COVID-19, Islamic social finance institutions, Partnership for the goals
Subjects: T Technology > TA Engineering (General). Civil engineering (General) > TA177.4-185 Engineering economy
Divisions: 04. Fakultas Ekonomi dan Bisnis
Sri Herianingrum, -NIDN0007026907
Tika Widiastuti, -NIDN0730128301
Meri Indri Hapsari, -UNSPECIFIED
Ririn Tri Ratnasari, -NIDN0026117504
Firmansyah FirmansyahUNSPECIFIED
Shahir Akram Hassan, -UNSPECIFIED
Annisa Rahma FebriyantiUNSPECIFIED
Luthfi Akmal Muzakki, -UNSPECIFIED
Depositing User: Dwi Marina
Date Deposited: 20 Apr 2023 22:57
Last Modified: 12 Jun 2023 05:54
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