Page 106 - Dimensi Baharu Zakat di Malaysia

© DIMENSI BAHARU ZAKAT DI MALAYSIA
ISBN 978-967-2959-04-5

RESULT AND DISCUSSION
Based on interviews with informants from the selected Islamic
financial institutions, several issues on how zakah is estimated have
been eventually discovered. As the research deals with many
confidential bank information, the name of the selected Islamic
financial institutions will not be revealed, instead they will be
labeled as institution A1 and A2 for Islamic banks, B1 and B2 for
development financial institutions and C1 to C4 for Takaful
operators. The findings will be discussed under the following
headlines.

Assessment Method

Table 1: Assessment Method
Institutions
Method A A B B C C C C
1 2 1 2 1 2 3 4
Capital Growth Method / / / / //
Working Capital / /
Method
Profit Method /
Source: Interview

As previously mentioned, that there are two methods have been
suggested by JAWHAR i.e. i) growth, and ii) working capital
method. Although most of the institutions have chosen these two
methods, as shown in Table 1, there is at least one institution (C4)
that use its own method which is known as “profit” method.
Usually, the calculation of zakah based on growth and working
capital utilises data taken from the balance sheet due to the
convention that zakah is imposed on productive assets owned by
Muslim shareholders (reflected in the balance sheet and not income
statement).
On the contrary, the profit method used by C4 is different from
the other two as it utilizes data from income statement. In this case,
the institution argued that they do not have the assets or goods to be

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