Islamic Social Finance Plays an Important Role in Inclusive Development: International Conference of Zakat

A key topic discussed at the International Conference of Zakat (Iconz) 2020, was the role of Zakat and Waqf contributions, as key contributors for inclusive development. Speaking at the Iconz, Director of Distribution and Utilization of Baznas, Irfan Syauqi Beik, stated that the optimisation of all available resources was required to deal with economic destruction left in the wake of COVID-19, as well as to mitigate its impact on individual’s social lives.

Beik added that the global potential for Zakat funding stood at USD 500-600 billion annually. Beik also noted that it was imperative to use digital technology to facilitate this optimization.

Chairman of the Sokoto State Za...