This work examines foreign debt, investment, and economic growth in OIC countries. Using panel data analysis, it considers how external debts affect these countries in terms of investment and economic growth. The results suggest external debt has both positive and negative roles on investment and economic growth depending on the countrys economy. The importance of understanding complex relations regarding foreign debt and performance in OIC countries is highlighted. In fact, the study encourages policymakers interventions, balancing between economic policies and those that would suit the special situations in these countries.

This study uses quantitative research techniques and time series data from the World Bank spanning from 1981 to 2022 to analyze the factors influencing the development of the Nigerian bond market. Using EViews software for analysis, the data shows a strong long-run correlation between the variables, corroborated by the cointegration bonds test. Important discoveries show that the variables move together throughout time, pointing to a steady and trustworthy relationship. Suggestions for policy include holding steady on bond market regulations, advocating for steps to bolster market expansion, purchasing inflation-indexed bonds, and putting anti-inflation plans into action. Long-term plans should prioritize technology advancements, balanced debt management, investment diversification, enhanced legal clarity, and better access to bond issuance. It also advised supporting the bond market and economic development through public-private partnerships.

Perbincangan zakat syarikat masih lagi menjadi topik penting dalam kalangan intelektual Islam. Tambahan pula di Malaysia, perbincangan adalah lebih fokus kepada usaha melaksanakan dan menyelaraskan perlaksanaan kutipan zakat syarikat di Malaysia. Namun, beberapa isu fiqh juga masih perlu perbincangan yang lebih holistik. Antara aspek utama dalam membahaskan isu zakat syarikat adalah berkaitan dengan konsep fiqh zakat syarikat. Oleh kerana itu, kajian ini akan menjelaskan konsep fiqh zakat syarikat dan beberapa asas kewajipannya. Kajian ini adalah bersifat kualitatif di mana data-data perpustakaan digunakan sepenuhnya. Data-data tersebut kemudian di analisis secara induktif dan deduktif. Kajian mendapati konsep zakat syarikat boleh dibangunkan dengan kerangka fiqh dan tidak semestinya bergantung kepada konsep zakat perniagaan. Asas kewajipan zakat syarikat juga boleh melihat melalui perbincangan teori percampuran harta, rangkuman harta, konsep kesuburan harta dan maqasid Syariah.

Pinjaman pendidikan PTPTN bertujuan membantu menjelaskan yuran pengajian di IPTA/IPTS terutama bagi pelajar yang berasal daripada keluarga dalam kumpulan asnaf atau B40. Sesuai dengan bantuan yang bersifat pinjaman, proses bayaran balik hendaklah dibuat selepas dua belas (12) bulan tamat tempoh pengeluaran pinjaman tanpa perlu menunggu notis bayaran balik. Kegagalan graduan/peminjam memulakan proses bayaran balik berpotensi mengakibatkan mereka disenarai hitam dalam laporan Central Credit Reference Information System (CCRIS). Hanya pelajar yang menamatkan pengajian Ijazah Sarjana Muda kelas pertama layak memohon pengecualian bayaran balik pinjaman. Situasi semasa juga menyaksikan bukan semua pelajar berjaya memperolehi pekerjaan selepas menamatkan pengajian selain terpaksa bekerja dengan bayaran gaji di bawah paras kelayakan (under paid). Justeru dengan menggunakan kaedah temuramah informan kajian ini bertujuan mengenal pasti kewajaran mengkategorikan graduan penghutang PTPTN di bawah asnaf al Gharimin untuk membantu mereka menjelaskan pinjaman agar tidak terjerumus ke dalam risiko yang lebih besar. Kajian mendapati bahawa takrif al-Gharimin boleh diperluas selaras dengan situasi keberhutangan semasa seperti pinjaman pendidikan. Malah telah ada instrumen membantu pelajar menjelaskan pinjaman pendidikan melalui dana zakat walaupun instrument tersebut belum menyeluruh. Kajian juga mendapati kewajaran mengkategorikan penghutang PTPTN di bawah asnaf al-Gharimin.

This paper examines the relationship between the determinants of corporate outreach and corporate governance in Islamic microfinance institutions (Baitul Maal wa Tanwil, BMT toward Cash Waqf management using a primary data set built from the concept of Islamic MFIs collected from internal and external respondents. Islamic Micro-finance implements cash waqf management. Using the measurement model and the structural model in Partial least square (PLS), this paper examines the effects of the board and CEO characteristics, type of firm ownership, customer-firm relationship, and competition and regulation on the financial performance of Islamic MFIs and outreach to Islamic Microfinance customers and institutions Cash Waqf. This paper finds that Determinants of governance in microfinance Islamic institutions - BMT in cash waqf management is CEO/chairman duality, internal board auditor, board size, shareholder firm, individual loan, competition, regulated bank, urban market, Islamic microfinance Institutional age, portfolio at risk, firm size, and Human development index (HDI). Outreach governance of MFIs-BMT on cash waqf management is divided into three dimensions, namely: first, the internal dimensions are; CEO/chairman duality, internal board auditor, the board size, and shareholder firm. Second, the external dimensions are; individual loans, competition, bank regulation, urban market, Islamic microfinance Institutional age. Third, the dimensions of the control factor are; portfolio at risk, firm size, and Human development index (HDI). MFIs-BMT on cash waqf management in Indonesia discussed in this study proves that outreach governance of MFIs-BMT occurs only in external dimensions, including; individual loan, competition, bank regulated, urban market, Islamic microfinance Institutional age. Our research concludes that MFIs in Indonesia focus on individual loans, competition between MFIs and BMTs, are subject to banking regulations, are more developed in rural markets than urban markets, and this dimension of outreach governance depends on the age of MFIs-BMTs.

Kajian ini meneliti peranan reputasi dalam membina dan meningkatkan kepercayaan pembayar zakat terhadap institusi zakat. Dengan menggunakan pendekatan kuantitatif, kajian ini menganalisis data daripada 385 pembayar zakat melalui soal selidik berstruktur. Hasil analisis regresi menunjukkan bahawa reputasi memainkan peranan signifikan dalam meningkatkan kepercayaan pembayar zakat (B = 0.66, p < 0.01), menyokong Teori Kepercayaan dan Teori Reputasi. Dapatan ini selari dengan kajian terdahulu yang menunjukkan bahawa reputasi yang baik meningkatkan keyakinan terhadap institusi zakat, sementara ketidakjelasan dalam pengurusan dana boleh menghakis kepercayaan. Selain itu, kajian ini mengesahkan bahawa media sosial berperanan penting dalam membentuk reputasi dan persepsi masyarakat terhadap institusi zakat. Dari sudut implikasi praktikal, institusi zakat perlu memperkukuhkan ketelusan, komunikasi strategik dan penglibatan komuniti untuk mengekalkan reputasi yang positif dan memastikan kepercayaan berterusan daripada pembayar zakat. Implikasi kajian ini memberi panduan kepada institusi zakat untuk memperbaiki strategi pengurusan reputasi, sekaligus menyumbang kepada literatur akademik dalam bidang pengurusan zakat.

Waqf, an ancient Islamic institution dedicated to charitable and social welfare, has been integral to the socio-economic fabric of Muslim societies for centuries. Traditionally, Waqf involves donating assets—such as land, buildings, or cash—to be held in perpetuity for religious, educational, or philanthropic purposes. However, the 21st century presents both unprecedented opportunities and challenges for the modernization of Waqf, especially within the context of rapid technological advancements and evolving legal frameworks and brings both opportunities and obstacles to the administration and effectiveness of Waqf institutions. This article explores how digital technologies, such as blockchain and online fundraising platforms, impact the management and transparency of Waqf assets. It also investigates the regulatory gaps and legal challenges posed by integrating digital tools into traditional Waqf practices. The research provides comparative insights from successful models in Turkey, Indonesia, UAE, and Pakistan, so that Malaysia can develop a comprehensive and forward-looking legal framework that will enable the effective integration of digital tools into waqf management, benefiting both current and future generations.

Ambiguities surrounding the Shariah compatibility of blockchain and smart contracts, coupled with insufficient data protection measures, pose risks to the integrity of waqf management. However, opportunities exist to modernize waqf practices by expanding the CCA and PDPA, ensuring enhanced cybersecurity and data privacy. This article critically analyzes the legal barriers and opportunities in the digital transformation of waqf management in Malaysia. The primary objective is to identify the regulatory challenges and explore potential reforms necessary for integrating digital technologies like blockchain and online fundraising platforms into waqf administration. The research employs a qualitative approach, examining Malaysia’s existing legal framework, including state-based Islamic law, the Personal Data Protection Act (PDPA), and the Computer Crimes Act (CCA), in conjunction with Shariah compliance. The findings reveal significant legal gaps, particularly in regulating digital tools under current waqf laws. The article underscores the need for a harmonized legal framework that accommodates technological advancements while preserving Islamic principles. Future reforms should focus on creating a standardized digital governance model for waqf institutions across states, facilitating better regulatory compliance and promoting transparency. The study has implications for policymakers, waqf administrators, and legal scholars in enhancing waqf’s socio-economic impact in the digital era.

Zakat merupakan rukun Islam yang menjadi kewajipan individu Muslim yang memenuhi syarat tertentu. Kini agihan zakat telah diperluaskan dalam bentuk bantuan modal perniagaan bagi membina potensi asnaf yang memiliki keupayaan berusaha dan meningkatkan taraf ekonomi mereka secara mampan. Tujuan kajian ini adalah untuk mengenal pasti dan menghurai bentuk nilai tambah program Usahawan Asnaf terhadap pemerkasaan potensi ekonomi serta mengukur tahap peningkatan taraf ekonomi usahawan asnaf terlibat berasaskan Teori Modal Insan. Pengumpulan data telah dilakukan melalui edaran soalselidik melibatkan 40 orang usahawan asnaf yang dipilih melalui teknik persampelan bukan kebarangkalian jenis teknik persampelan bertujuan. Data kajian dianalisis secara deskriptif melalui nilai kecenderungan terpusat iaitu min dan sisihan piawai. Hasil kajian mendapati nilai tambah program Usahawan Asnaf terhadap pemerkasaan potensi ekonomi usahawan anaf, berlaku dalam bentuk peningkatan kemahiran keusahawanan, ketersediaan sumber modal perniagaan dan peluang pemasaran produk. Tahap peningkatan taraf ekonomi usahawan asnaf menunjukkan tahap pencapaian yang tinggi. Dapatan ini membuktikan pelaksanaan agihan zakat berbentuk program keusahawanan asnaf dapat mengurangkan kemiskinan jangka masa panjang bagi kelompok asnaf yang memiliki kemampuan berniaga selari dengan Teori Modal Insan. Implikasinya, program keusahawanan asnaf wajar diperluaskan skopnya supaya sumber zakat turut membina potensi sosio-ekonomi asnaf dalam jangka masa panjang. Keaslian kajian ini terletak pada inisiatif mengkaji nilai tambah dan mengukur peningkatan taraf ekonomi daripada program secara empirikal.

This study explores the role of Zakat in the socio-economic empowerment of Muslim communities in the UK. Using a descriptive research design based on secondary data from Zakat organizations, government statistics, and academic studies, the research assesses Zakat practices, identifies challenges, and proposes strategies for improvement. Key findings reveal that Zakat provides critical financial relief, with 70% of recipients achieving stability within six months. Additionally, Zakat-funded education and vocational training programs have reduced unemployment rates by 8% from 2018 to 2023. However, gaps remain in achieving long-term economic self-sufficiency due to a focus on short-term aid. Challenges include high administrative costs (20–25% of funds) and unequal distribution, particularly in rural areas. The study emphasizes the potential of Zakat as a tool for poverty alleviation and sustainable development when coupled with improved governance, strategic allocation, and technology integration. By framing the findings within the principles of Maqasid al-Shariah, the research highlights how Zakat aligns with broader goals of justice and equity in Islamic social finance. The study contributes to the growing discourse on Zakat’s modern applications and offers practical recommendations to enhance its impact on poverty reduction and socio-economic empowerment.