- 6 months ago
What happens when zakat is reimagined — not as passive aid, but as strategic social capital?
NIAGA SPOTLIGHT features a pilot initiative that links Islamic financial instruments to:
- Support undergraduates facing financial precarity
- Address Malaysia’s ageing care crisis
- Model a sustainable, dignity-based economy through faith-driven systems
Don’t miss this timely conversation for policymakers, development planners and Islamic finance reformers.
NIAGA SPOTLIGHT features a pilot initiative that links Islamic financial instruments to:
- Support undergraduates facing financial precarity
- Address Malaysia’s ageing care crisis
- Model a sustainable, dignity-based economy through faith-driven systems
Don’t miss this timely conversation for policymakers, development planners and Islamic finance reformers.
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NewsTranscript
00:00Hello and welcome to Nyaga Spotlight with me, Tamina Kauschi.
00:12Nyaga Spotlight takes us through the week in economic analysis and future affairs.
00:16Now this week on future affairs, we spotlight the topic of Zakat as social capital
00:20and empowering undergraduates via elder care.
00:24Now, to frame the issue, Malaysia Zakat funds the obligatory Islamic financial contribution
00:29collected each year often reaches RM740 million annually across states.
00:35Yet, its transformative potential as community credit system remains underutilized.
00:40Today we investigate how Zakat, when deployed through innovative structured partnerships
00:45like a community credit fund, can directly empower vulnerable groups,
00:50boost youth economic resilience and also strengthen elderly care.
00:54We spotlight community credit not as charity, but as a social financing tool,
01:00blending Islamic finance principles with youth and elder care policies,
01:04all while addressing Malaysia's dual crisis, in this case, student poverty and ageing population care.
01:12Now, earlier this year, the Education Ministry confirmed that over 10,000 SPM candidates
01:17were absent from their national exams.
01:19Many of them were working gig jobs, some as food delivery riders,
01:22just to support their families.
01:24Thousands of our youth are clearly being priced out of higher education.
01:29That brings us right back to the millions of ringgit in Zakat,
01:32close to 800 million ringgit annually, as mentioned.
01:35And yet, very little of this funding is structured to support sustainable,
01:39long-term empowerment of students in need.
01:42Now, what if Zakat wasn't treated only as charity?
01:45What if it became community credit?
01:48A financial bridge, not a lifeline, which allows students to earn stipends through meaningful social service?
01:54That's exactly what one pilot project is attempting to prove.
01:58Pairing students from underserved backgrounds with elderly care homes,
02:01where they serve once a week and receive 10 ringgit an hour in return.
02:05This is not a handout, this is earned dignity.
02:08And it is a model we could possibly scale.
02:11We break down all the details now on Nyaga Spotlight with Ahmad Fatin Mohamed Suhaimi,
02:16CEO with Yaya San Kuis, as well as Professor Dr. Aishat Muniza,
02:20Senior Islamic Finance Advisor with UNFPA Malaysia.
02:24A very good morning to the both of you.
02:25Thank you for making time.
02:27Thank you very much.
02:27Thank you very much.
02:28Fantastic.
02:29So, Sheree Fatin, if I could get started off by you telling us a little bit more
02:33about reframing zakat, the foundation of it, right?
02:37Now, zakat distribution and contributions are often viewed as transactional.
02:42How did Yaya San Kuis re-engineer your role to operate more as a community investment fund?
02:50Okay, thank you.
02:51Thank you for the question, Termina.
02:52I mean, it's true that zakat is often seen as a transactional act.
02:57Funds are given, needs are met, and that's it.
03:00But, I mean, at Yaya San Kuis, we were inspired to think it differently.
03:05Can zakat become a platform for service, dignity, and giving lasting impact?
03:10So, that question came to us.
03:12I mean, in fact, through Prof. Aishat Muniza, she brought forward the idea,
03:16can we reimagine zakat as a form of a community credit, as you mentioned earlier,
03:21where students give, I mean, their time and energy to society,
03:26and in return, receiving support through zakat.
03:28So, we were immediately drawn to that vision.
03:33So, from that discussion, we began shaping what we call as the Community Credit Fund,
03:37which is actually just launched last week,
03:40in collaboration with the UNFPA Malaysia, and funded by MBSP Bank.
03:46So, in Yaya San Kuis, as a university-based foundation,
03:50I mean, we are closely aware of the student challenges,
03:53and many come from low-income household.
03:57They may receive zakat occasionally, but still, their financial stress remain.
04:02So, affecting not just their studies, but I can say in terms of their confidence,
04:07and hope for the future.
04:09At the same time, we observe also another group, our elderly group,
04:15especially those in care homes.
04:17So, interestingly, many of our students in our university,
04:21actively, I mean, involved in elderly programs.
04:27So, that's when we saw the opportunity,
04:30what if we can connect the youth and elder,
04:33not through charity, but, I mean, some sort of meaningful exchange.
04:37So, that's how the Community Credit Fund turned into reality.
04:41So, under this program, as also what you mentioned earlier,
04:44so, students volunteer at elderly care homes.
04:47They spend time with the elderly groups,
04:49giving, I mean, companionship,
04:51maybe just simple as reading books,
04:54offering conversation,
04:57and in return, they receive a stipend,
04:59not as a salary, I mean, but as a recognition for their service,
05:03which is funded by zakat.
05:05So, I mean, this initiative embeds values of town
05:09or mutual cooperation or mutual support
05:12and also masalah, which is give public benefit.
05:15So, we try to design this initiative,
05:19I mean, to create economic values
05:20in terms of enhanced students' employability
05:24and thus transforming zakat into a catalytic tool
05:27for inclusive development
05:28rather than just a passive handout.
05:30Absolutely. And I truly see the interjections whereby
05:34which essentially students are earning through care
05:37and not through consumption.
05:39Thank you very much, Fatin.
05:40From there, Prof Aishat, I'd love to move into
05:42you explaining to us a little bit more
05:44about the ethos behind this.
05:46Now, zakat, of course, in essence,
05:48it functions as a way to redistribute wealth
05:51amongst members of society
05:52from the more fortunate to the less.
05:54Now, this pilot shows its potential as social capital.
05:59Let's spread the net a little bit wider
06:01and speak about Islamic finance principles
06:04and what type of paradigm shifts you feel are important
06:07to harness this kind of pilot project
06:11so that it can have even wider impact.
06:15Thank you very much for that great question.
06:17Normally, as you have correctly pointed out,
06:20zakat is considered as a one-time giving charity act.
06:24That's right.
06:25But if we look at how zakat is perceived
06:29in the context of maqasid al-shari'ah,
06:31we understand that it is not about giving.
06:35Because if we look at the recipients of zakat
06:39in the Quran, which is our holy book,
06:42we find that there are eight legal recipients
06:44mentioned therein.
06:46And it's not like strict categories.
06:49For example, if we look at fisa bilillah category,
06:52in the way of helping the religion,
06:55in the way of serving the religion,
06:58in the way of achieving societal good,
07:01we can still spend zakat.
07:03And there is no limit to that whereby
07:06we have restricted ourselves and our societies
07:10in interpreting it.
07:11But actually, we have the liberty
07:14to have a wider interpretation
07:16in categorizing who can fall under fisa bilillah category.
07:23So I believe that it's all about interpretation
07:26and finding the most deserved recipients of zakat
07:30in our societies.
07:32Because sometimes all our energy is on
07:35how much we collect zakat.
07:37That's right.
07:38How much do we get on charity?
07:40So that is the shift we need.
07:43Why do we have to be so much concerned
07:46about how much we are receiving?
07:48It shouldn't be the KPI
07:49that solely we are concerned about.
07:52We should be more concerned about
07:53how are we spending the money
07:56we have collected as zakat or even charity.
07:59And what is the impact we are creating
08:01to the society by using those funds
08:05as social capital or whatsoever name we may call it.
08:08Yeah, absolutely.
08:09What I believe is that time has come
08:12for us to have better interpretations
08:14in terms of aligning zakat
08:17and other Islamic social finance tools
08:20to the societal needs we have.
08:22Whether it is about elderly care,
08:25whether it is about B40 population,
08:27whether it is about not having enough financial products
08:32to serve unserved and underserved segments
08:34of the population,
08:36we still have the liberty to interpret
08:39the asnafs or the recipients of zakat
08:42in such a way that we should be able
08:44to stretch it and serve the community needs.
08:47And this is what exactly we are doing
08:49by pioneering this community credit fund
08:52with the help of a lot of stakeholders.
08:55So what I believe is that
08:57the kind of paradigm shift
08:59we need in this regard is
09:02number one, we should redefine
09:04how zakat recipients are perceived.
09:07Absolutely.
09:08It shouldn't be only focused on faqir and miskin.
09:11And secondly, we also need to transform
09:14our KPIs of zakat or charity
09:17from collection amounts
09:20to the impact we create in the society.
09:23And the last one, which I want to highlight,
09:26which is the most important one is
09:28we should not be focusing on giving
09:31rather than we should be focusing
09:34on programs that transforms lives.
09:38Our target should be a person
09:40who's receiving zakat today
09:42should be able to transform their lives
09:44for the better
09:45and should be a payer of zakat in future.
09:49And I think you've actually hit the nail
09:51on the head with that because speaking
09:53about economic empowerment
09:54and capacity building programs,
09:56our statistics show that as of 2022,
09:59only about two to three percent
10:01of Malaysia's total zakat collection
10:03actually goes towards that.
10:05So this might be a first step,
10:08but we do believe that it's going to be
10:09a big one that perhaps could show
10:12replicable scaled models across states
10:15in Malaysia, perhaps.
10:17Fatin, I'd like to pick up on a point
10:20which Prof. Aishat had mentioned
10:22and talking about the stigma
10:23which often surrounds students
10:25who do receive zakat.
10:27Let's talk about how community credit fund
10:30like the one by Yayasan Kuis,
10:32UNFPA, helps to reframe recipients
10:34as active contributors back to society,
10:38not simply beneficiaries.
10:40And what is student feedback insofar
10:42telling us about this?
10:45It's true.
10:46I mean that many students
10:47do feel a sense of stigma
10:50when they're receiving zakat.
10:52So they worry about how others
10:53will see them as needy, as dependent.
10:57And we know this can affect their self-esteem,
11:00even their willingness to apply
11:03for the assistance that they actually need.
11:06So from the beginning,
11:07we designed the Community Credit Fund
11:09to reframe the role of the students
11:11like what you mentioned earlier,
11:13which is from a passive recipient
11:14to an active contributor.
11:16I mean through this initiative,
11:18Community Credit Fund,
11:19students, they are not just receiving zakat.
11:22I mean they are giving back to the community
11:24through social service,
11:26engaging with elders
11:27and offering their companionship.
11:30The stipend they receive
11:31is not just a charity,
11:34but it is a recognition
11:35for their care and commitment.
11:37I mean for me,
11:38that shift of mindset is powerful.
11:40They are not just receiving,
11:42but they are also actively contributing.
11:44So I mean,
11:45although the first batch of the students
11:47will only begin their placement
11:49by the end of this July,
11:51the early response
11:52that have already we received,
11:55I think for me,
11:55is very encouraging.
11:56I mean in terms of the selected students
11:58have shared with us
11:59how proud they are to be chosen,
12:01not just to receive support,
12:03but I mean to have the chance
12:05to serve to the elders.
12:06So this kind of feedback for me
12:08tells us that the initiative
12:10is helping to break the stigma.
12:13So students feel more valued,
12:15not pitied,
12:16and also they feel more empowered
12:18and not to be felt dependent.
12:22And that's exactly what we hope for
12:23for this Community Credit Fund,
12:25which is to use zakat
12:27in a way that restores dignity,
12:31builds character,
12:32and strengthens the spirit
12:34of community service.
12:37And also the students
12:39are very importantly
12:40receiving training,
12:42they are being evaluated,
12:43and they will actually be able
12:45to put the service hours
12:46that they're putting towards elder care
12:47into their CVs
12:48as work-related experience, right?
12:50So that also fundamentally
12:52ties back into enhancing
12:56the Makassir al-Shariah perspective too
12:58for intellect,
12:59for life,
13:00for dignity.
13:00Moving deeper into that,
13:03Prof Aisha,
13:04can I ask you about the fact that
13:06so Malaysia, of course,
13:07channels billions
13:08into Islamic finance,
13:09but it's rarely positioned
13:10as a formal development mechanism.
13:14What opportunity do we have now
13:16at this juncture in 2025
13:18to have this as an evaluation,
13:22to have zakat,
13:23waqaf, infaq,
13:24and all to be integrated
13:26into national human capital policies?
13:29Perhaps it's a missing dimension
13:31and what can help to catch up
13:33everyone who's been left behind, right?
13:36Yeah.
13:36I believe that Malaysia
13:38is leading in Islamic social finance
13:40if you look at it
13:41from a global context.
13:43Right.
13:43If you look at
13:44what Securities Commission Malaysia,
13:46Bank Negara Malaysia
13:47has pioneered in this regard,
13:50they have actually integrated
13:51social finance
13:53into the Islamic financial system.
13:56For instance,
13:57if we look at
13:58Bank Islam Sadaqah House,
14:00it is a very good initiation
14:03by the bank,
14:06which shows that
14:07it's not about
14:08Islamic commercial finance
14:10that always should be considered
14:13or in forefront
14:14when it comes to
14:15a commercial financial institution.
14:17And today,
14:18globally,
14:19the Sadaqah House initiative
14:22has been acknowledged.
14:23For example,
14:23in the Maldives recently,
14:26the central bank
14:26has initiated again
14:29a similar kind of a model
14:31whereby even in the Maldives,
14:33there is a framework
14:36whereby you have to have
14:38Islamic financial institutions
14:41dealing with Islamic social finance sector
14:43as well.
14:44So what I believe
14:45is that the overall framework
14:48to integrate
14:49Islamic social finance
14:50to Islamic commercial
14:52financial institutions
14:54are found in Malaysia.
14:56However,
14:57what we are lacking today
14:58is the interpretation
15:00of how we can
15:02widen the horizon
15:03of using
15:04Zakat or charity funds
15:06to those who are in need.
15:08I believe that
15:09if we were to
15:10have a better output
15:12in terms of
15:14deploying Zakat,
15:15money,
15:16the best way would be
15:17we have to come up
15:18with a proper strategic plan
15:20to find the most deserved recipients
15:22to do a need assessment
15:24and to ensure that
15:26the aid
15:27through charity mechanisms,
15:30through Zakat mechanisms
15:31are delivered
15:32to the most needy
15:34in our society
15:34without them asking for it.
15:37because currently
15:38the trend is
15:39whether it is
15:41for educational purpose,
15:44health purpose
15:45or whatever the purpose,
15:47the Asnaf is the one
15:48who should come forward
15:49and declare themselves
15:50as Asnaf
15:51and then only
15:53there will be
15:54an assessment carried out
15:55to see whether
15:56they are eligible
15:57to receive
15:58this assistance or not.
15:59Correct.
16:00What I believe is
16:01at national level
16:02what we have to focus
16:04right now is
16:04finding the most
16:06deserved recipients
16:07invest on that
16:08and once we identify
16:10who are the most
16:11deserved recipients
16:12the aid
16:14through Zakat
16:14and charity
16:16must be delivered
16:17to them
16:17without them
16:18asking for it
16:19and that would be
16:20the day
16:20where we could
16:21transform
16:22people's lives
16:24and ensure
16:25that Zakat
16:26has achieved
16:27its maqasid
16:27and I see clearly
16:30how the current
16:32policy disconnect
16:33can actually be closed
16:34quite rapidly
16:35if our national
16:36development planning
16:38was also cognizant
16:39and wanted to make
16:40full use
16:41of the available
16:42Zakat funds
16:43through the manner
16:44in which you've described.
16:45I can also perhaps
16:46think of the way
16:47in which
16:47perhaps in the near future
16:49Zakat boards
16:50may also be able
16:51to operate
16:52as catalytic funds
16:54there are quite a few
16:56interesting areas
16:57of economic opportunity
16:59and employment
17:00for youth
17:01we're talking about
17:02social care
17:03apprenticeships
17:04like what you
17:04have been doing
17:05there's also
17:06green youth employment
17:07and very often
17:08those from the
17:09underserved backgrounds
17:11those youth
17:11are the ones
17:12who have least access
17:13to the training
17:15and the technical skills
17:16which would make
17:16them employable
17:17in this new
17:19and firm future
17:20of work
17:21that's actually
17:21already here
17:22thank you
17:23Profishab
17:23from there
17:24Fatin
17:25I'd like to go back
17:26into the pilot
17:27program itself
17:29now this pilot
17:29targets 25 students
17:32for a starter
17:33and what is your
17:34vision hopefully
17:35for scaling this model
17:37across universities
17:38and maybe even
17:39states in Malaysia
17:40and what kind
17:42of structural
17:42or even faith
17:43based governance
17:44issues need
17:47to also be addressed
17:48to ensure
17:48all goes smoothly
17:50okay thank you
17:52yes the pilot
17:53starts small
17:54with just
17:5525 students
17:57but I mean
17:57from the very
17:58beginning
17:59our vision
18:00has gone far
18:01beyond that number
18:02I mean
18:02also with the support
18:04of UNFPA Malaysia
18:05and our strategic partners
18:07we are not
18:08limiting this
18:08initiative
18:09only to Malaysia
18:11alone
18:11after maybe
18:12after the pilot
18:13we plan to lay
18:14the groundwork
18:15for scaling
18:16maybe first we
18:17started with
18:17other universities
18:19and also we go
18:20to other states
18:21in Malaysia
18:21and then globally
18:23and adapting it
18:24to the diverse
18:25socio-economic
18:26and cultural
18:27context in
18:28Muslim majority
18:29countries
18:29so our aim
18:31is to create
18:31a globally
18:32replicable
18:33zakat for service
18:34framework
18:35rooted in
18:36Islamic values
18:37but responsive
18:38to local
18:39needs
18:39so more
18:40significantly
18:41in collaboration
18:42with UNFPA
18:43Malaysia
18:44so we are
18:45working toward
18:45establishment
18:46what we call
18:47as a community
18:48credit exchange
18:49a bold new
18:51platform
18:51I mean
18:52where community
18:52service is formally
18:54tokenized and valued
18:55the idea is simple
18:57just as the world
18:58has what we call
19:00as carbon credits
19:01for offsetting
19:02environmental impact
19:03we envision
19:04a community
19:05credit system
19:06where acts
19:06of care
19:07tutoring
19:08social work
19:09can be
19:10quantifiable
19:10credit
19:11so this credit
19:12can be bank
19:14trade
19:14or even offset
19:15for instance
19:16an institution
19:17that lacks
19:18manpower
19:19could support
19:19another by funding
19:21community credit
19:22activities
19:22so it's a mechanism
19:24to incentivize
19:26dignity-based
19:27volunteerism
19:28and to reframe
19:29unpaid care
19:30as a measurable
19:31contribution
19:32to society
19:33to mainstream
19:34this
19:35of course
19:35we will need
19:36support from
19:37religious governance
19:38bodies
19:39to endorse
19:40the notion
19:40that Zakat
19:41can support
19:42this kind
19:43of structured
19:44service
19:44not just
19:45financial need
19:46but with
19:47clear sharia
19:48parameters
19:49strong impact
19:50metrics
19:51and digital
19:52accountability
19:52tools
19:53this model
19:54I think
19:55is not only
19:55scalable
19:56but it's
19:57a transformative
19:58model
19:59exactly
20:00and also
20:01another interesting
20:02data point
20:03that we have
20:03is Malaysia
20:04overall has
20:05roughly about
20:05500,000
20:06tertiary students
20:08at any given
20:08point
20:09if only
20:105% of those
20:11who are of course
20:12Muslims
20:13from those
20:13undergraduates
20:14were then engaged
20:15in service-linked
20:16Zakat programs
20:16that actually
20:17represents perhaps
20:18even tens of
20:19millions
20:19of Zakat
20:20related funds
20:21which are then
20:22dispersed
20:22accordingly
20:23and for
20:24direct and
20:25actionable
20:26turnover
20:27and good
20:27however
20:28it's also
20:30an opportunity
20:30perhaps for
20:31state-level
20:32Zakat
20:32fragmentation
20:33to also
20:34be quickly
20:35addressed
20:36so that
20:36everything
20:37becomes
20:37perhaps
20:38more
20:38digitized
20:39there is
20:40a better
20:40framework
20:40for tracking
20:41and accountability
20:42and as
20:43Prof Aishat
20:44was mentioning
20:44it of course
20:45makes sure
20:46that the funds
20:47go out
20:48from identified
20:49parameters
20:50not at the
20:51request
20:52of the
20:53ASNAVs
20:53Prof Aishat
20:54I'd also like
20:55to go into
20:56discussing a little
20:57bit about
20:58the fact that
20:59of course
20:59most underserved
21:01graduates
21:01they would also
21:02then be coming
21:03from B40
21:04households
21:04these remain
21:05excluded from
21:06formal credit
21:07lines
21:08now how
21:09feasible is it
21:09then to develop
21:10Zakat link
21:11Sharia compliant
21:12perhaps micro
21:14credit systems
21:15for such
21:16students
21:16definitely
21:18there is
21:19scope and
21:20potential for
21:21that in our
21:21societies
21:22but the thing
21:23is when we
21:24look at it
21:25from a profitable
21:25perspective
21:27or an angle
21:28it becomes
21:29something which
21:30is not so
21:30feasible to
21:31most of the
21:32commercial
21:32financial
21:33institutions
21:34out there
21:35this means
21:37that more
21:37work needs
21:38to be carried
21:39out in terms
21:40of catering
21:41this needy
21:42segment of the
21:43population
21:43through Islamic
21:44social finance
21:45I believe
21:46that there is
21:47a strong
21:48potential in
21:48Malaysia
21:49and elsewhere
21:49in the world
21:50where we have
21:51the same issue
21:52and it can
21:54be resolved
21:55through for
21:56example
21:56we can come
21:57come up with
21:58micro
21:59Mularaba
21:59models
22:00or Musharraka
22:01models
22:02or even we can
22:03have micro
22:04different types
22:05of financial
22:06models being
22:07implemented
22:09across not only
22:11through Islamic
22:11financial institutions
22:13but they should
22:14be led by the
22:15universities
22:16themselves
22:17for instance
22:18in the case
22:19of University
22:19Islam
22:20Selangor
22:21it is not
22:22the university
22:23per se
22:23who is dealing
22:24with the
22:24community
22:25credit fund
22:26right
22:26they have
22:27Yayasan
22:28Kuis
22:28which is a
22:29designated
22:30foundation
22:31that deals
22:32with those
22:33students who
22:33are in need
22:34to provide
22:35them
22:35scholarships
22:36and better
22:36opportunities
22:37in terms of
22:38sustaining
22:39their financial
22:40needs
22:40while they are
22:41at the
22:41university
22:41so with this
22:43model
22:43what type
22:44of extension
22:45do we need
22:46what we need
22:48in terms of
22:48extension
22:49here is
22:50coming up
22:51with innovative
22:52Islamic
22:52social finance
22:53tools
22:54or models
22:55that could
22:55be implemented
22:56there
22:56you call
22:57any type
22:58of Islamic
23:00social finance
23:01tools
23:02for example
23:02zakat
23:04sadaqah
23:05waquf
23:05or even
23:06commercial
23:07financial tools
23:08for example
23:10Mularaba
23:10Musharra
23:11Gaijara
23:11whatever the
23:13name we have
23:13here
23:14it has the
23:15potential to
23:15be used
23:16as a social
23:17finance or
23:18microcredit
23:19type of tool
23:20as well
23:20so if you ask
23:22me what is
23:22lacking right
23:23now is I
23:24think the
23:25willingness
23:25we need to
23:27change the
23:27attitude of
23:28giving
23:29we need to
23:30ensure that
23:31we create
23:32societies where
23:33every student
23:35every citizen
23:36is responsible
23:37for their
23:38own needs
23:39there shouldn't
23:40be
23:40perception
23:41that if
23:43you are
23:43in need
23:44one time
23:45assistance
23:45should be
23:46provided
23:46because it
23:47also impacts
23:48your non-material
23:49well-being
23:49as well
23:50exactly
23:50could I
23:51have perhaps
23:52a short
23:52and brief
23:53insight from
23:53you as
23:54well
23:54looking at
23:55the fact
23:56that this
23:56model in
23:57particular
23:57it is
23:57funding
23:58students to
23:58provide
23:59companionship
24:00care
24:00work which
24:01is quite
24:01often
24:02feminized
24:02and unpaid
24:03now could
24:04zakat serve
24:05as a tool
24:06perhaps to
24:07formally value
24:08such unpaid
24:08care labor
24:09that is taken
24:10on by
24:11women
24:11but within
24:12the
24:12Islamic
24:12economic
24:13frameworks
24:14definitely
24:15again it's
24:17about our
24:17interpretation
24:18and how
24:19willing are
24:20we to
24:20serve this
24:22unserved and
24:23underserved
24:23segment of the
24:24population
24:25what I
24:26believe is
24:27that if
24:28we were
24:29to come
24:29up with
24:30a more
24:32feminine
24:33maqassid
24:34al-shari'ah
24:34approach
24:35definitely
24:36we can
24:37interpret
24:38a
24:39category
24:40of
24:40zakat
24:41in such
24:42a way
24:42that
24:42anything
24:43that is
24:44disrupted
24:44in our
24:45society
24:45anywhere
24:46we need
24:46help
24:47financial
24:48assistance
24:49we could
24:49utilize
24:50zakat
24:51as a
24:52resource
24:53that is
24:53transformational
24:54so that
24:55people will
24:56not be
24:57begging for
24:58help
24:58or they
24:59might not
24:59be neglecting
25:00the societal
25:01care needs
25:03and going
25:03for work
25:04sacrificing
25:05the bigger
25:07picture
25:08in the bigger
25:09picture what we
25:09see is
25:10sacrificing
25:10the national
25:11development
25:11in such a
25:12way that
25:13there are
25:14neglected
25:14segments of
25:15the population
25:16who are
25:16uncared for
25:17because there
25:18is no
25:19holistic
25:20system to
25:20cater for
25:21them
25:21so in
25:23short of
25:23course
25:24we are
25:25able to
25:26use
25:26zakat
25:27in such
25:27a way
25:27that we
25:28could take
25:29care of
25:30those who
25:31are taking
25:31care of
25:33elderly population
25:35even children
25:36but who are
25:38not recognized
25:38in terms of
25:39payments
25:40clearly so
25:41thank you very
25:42much Prof Aisha
25:42as well as
25:43Fatin for the
25:44most interesting
25:44discussion
25:45well today's
25:46discussion shows
25:47the potential
25:47of zakat
25:48to function
25:48not just as
25:49a religious
25:49obligation
25:50but perhaps
25:50as a more
25:51strategic lever
25:52for inclusive
25:53development
25:53if integrated
25:54international
25:55education
25:55elder care
25:56and youth
25:57empowerment
25:57policies
25:58models like
25:59this one
25:59could redefine
26:00the role of
26:01Islamic finance
26:02in Malaysia's
26:03socio-economic
26:04agenda
26:04well that's all
26:05we have time
26:06for today
26:06on Niagara Spotlight
26:07with me Tamina
26:08Kausji
26:08we'll see you
26:09again next week
26:10with more
26:10economic analysis
26:11and insights
26:12here's to a
26:12productive week
26:13ahead
26:14thank you
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