The 4th International Virtual Conference of Zakat, Waqf, and Islamic Philanthropy was held by IPB University and UiTM Malaysia

IPB University’s Department of Islamic Economics, Faculty of Economics and Management (FEM) in collaboration with Universiti Teknologi Mara (UiTM) Malaysia, has held the 4th International Virtual Conference on Zakat, Waqf, and Islamic Philanthropy (ZAWFI 2020) on September 17th. Present as speakers were Indonesia’s Minister of Finance, Dr Sri Mulyani Indrawati, and Chairman of the Sharia Advisory Committee for Permodalan Nasional Berhad (PNB), Malaysia, Datuk Dr Mohd Daud Bakar.


The Dean of FEM, Prof Dr Nunung Nuyartono, mentioned in his welcoming speech that Islamic Philanthropy is an important pillar of economic growth which can reduce poverty and increase social justice. Islamic Economy and the various instruments included can contribute beneficially for the national economic situation. He also adds that Islamic Philanthropy, in this case zakat, waqf, infaq, and shadaqah have become important instruments to realize the targets of the Sustainable Development Goals (SDGs). He also emphasized for the participants that the presence of technology has made general access easier, with just one hand and click, people can now donate.

The Minister of Finance, Dr. Sri Mulyani, described in her presentation that the pandemic has become a momentum for Islamic Economy to be part of the solution. Several instruments of Islamic economy, especially zakat, waqf, and shadaqah can play an important part if managed appropriately. She continued her presentation by stating that we are currently facing an unusual situation. Due, to the spread of COVID-19 around the world, a situation which has never happened before occurred. This has impacted our economic condition severely. This pandemic has also brought limitations to human activity. We are faced with a serious threat, especially the threat towards the health and safety of the public. Looking at current conditions, it is time for the sharia financial institution to rise and help us overcome this pandemic.

She mentioned that Prophet Muhammad has shown that all muslim people are brothers and sisters. Thus, it is necessary to come together and reach out, especially for those in need. Solidarity and humanity combined is the best response in this situation. In many fields, Islam has the tools needed to implement those qualities. Zakat, waqf, and shadaqah are the Islamic philanthropy which is part of the Islamic values. Islam has provided us with a strong foundation in creating justice and wellbeing. Dr. Sri Mulyani, who is also the President of the Indonesian Association of Islamic Economists (IAEI), then reveals the interesting fact that in the midst of the pandemic, the Indonesian people has actually been more inclined to help each other and donate. This was based on the results of a research by Forum Zakat 2020. Data from this research was obtained from interviews from 70 zakat institutions and shows that during Ramadhan this year, an increase of donation was seen. Compared to the first semester of 2020 with 2019, the National Zakat Board (BAZNAS) Center of  Strategic Studies found that 58% of 19 zakat institutions had positive growth in donation collection, which is a 46% increase from the previous year.

According to Sri Mulyani, this phenomena shows the young generation’s interest to consistently implement the values of religion. Add a touch of technology and it becomes a lot easier for them to receive and share a multitude of things. The availability of technology makes it easier and cheaper for people to make contributions. One thing that is no less important is keeping the people’s trust towards institutions which manage these social funds. Institutions need to be responsible, transparent, and accountable. In other words, they need to be trustworthy. Sri Mulyani hopes that this event can strengthen the partnership between the Indonesian and Malaysian governments, especially in the development of Islamic Economy.

Published Date : 18-Sep-2020

Resource Person : Dr Sri Mulyani Indrawati

Keyword : Islamic Economics, Zakat, Infaq, Alms, FEM, IPB University, IPB Department of Islamic Economics