mettal steel
INTRODUCTION
Zakat is considered to be a personal responsibility for muslim to ease economic hardship for others and eliminate inequality. It is obligatory for all who are able to do so. The zakat is considered by muslim to be an act of piety through which one expresses concern for the well-being of fellow muslim, as well as preserving social harmony between wealthy and poor.
The importance of zakat is one of five pillar of Islam which is giving the practice of charitable giving by muslim based on accumulated wealth. The other importance of Zakatis also in order to avoid stinginess and encourage donation. The zakat promotes a more equitable redistribution of wealth and fosters a sense of solidarity amongst of ummah.
There are two main type of zakat which are zakat on self (zakat fitrah) and zakat on wealth (zakat mal). Based on Malaysian situation, practically all eligible muslim pay zakat on self (zakat fitrah). The family head will go to the authorized ‘amil’ or zakat collector during Ramadhan fasting month or not later than the morning of 1stsyawal month before Aidilfitri prayers. As for zakat on wealth, the fulfilling of this duty is about 1 out of eligible persons.
There are eight categories of people (asnaf) who quality to receive zakat funds, which are those living in absolute poverty (al-fuqara), those who cannot meet their basic needs (al-masakin), the zakat collectors themselves (amil), individual who convert to become islam (muallaf), individual involve with activities to defend and strengthen islam (fisabilillah), travelers in need (ibnusabil) and those who have incurred overwhelming debts while attempting to satisfy their basic needs (aharmin).
OBJECTIVE
1. To know the best model that can be used to evaluate the data of monthly zakat collection in Malaysia.
2. To understand the historical pattern existing I the data series about zakat collection.
3. To forecast the value of monthly zakat collection in Malaysia on 2006.
DATA
Zakat is considered to be a personal responsibility for muslim to ease economic hardship for others and eliminate inequality. It is obligatory for all who are able to do so. The zakat is considered by muslim to be an act of piety through which one expresses concern for the well-being of fellow muslim, as well as preserving social harmony between wealthy and poor.
The importance of zakat is one of five pillar of Islam which is giving the practice of charitable giving by muslim based on accumulated wealth. The other importance of Zakatis also in order to avoid stinginess and encourage donation. The zakat promotes a more equitable redistribution of wealth and fosters a sense of solidarity amongst of ummah.
There are two main type of zakat which are zakat on self (zakat fitrah) and zakat on wealth (zakat mal). Based on Malaysian situation, practically all eligible muslim pay zakat on self (zakat fitrah). The family head will go to the authorized ‘amil’ or zakat collector during Ramadhan fasting month or not later than the morning of 1stsyawal month before Aidilfitri prayers. As for zakat on wealth, the fulfilling of this duty is about 1 out of eligible persons.
There are eight categories of people (asnaf) who quality to receive zakat funds, which are those living in absolute poverty (al-fuqara), those who cannot meet their basic needs (al-masakin), the zakat collectors themselves (amil), individual who convert to become islam (muallaf), individual involve with activities to defend and strengthen islam (fisabilillah), travelers in need (ibnusabil) and those who have incurred overwhelming debts while attempting to satisfy their basic needs (aharmin).
OBJECTIVE
1. To know the best model that can be used to evaluate the data of monthly zakat collection in Malaysia.
2. To understand the historical pattern existing I the data series about zakat collection.
3. To forecast the value of monthly zakat collection in Malaysia on 2006.
DATA