Enhancing Financial Management Practices for Zakat Micro-entrepreneurs in the New Normal through Impact-Focused Framework: A Conceptual Paper

  • Leylawati Joremi UNIVERSITI TEKNOLOGI MARA
  • Ruhaini Muda UNIVERSITI TEKNOLOGI MARA
  • Juliana Noor Kamaruddin UNIVERSITI TEKNOLOGI MARA

Abstract

The zakat micro-entrepreneurs (ZME) programs aim to improve mustahiq’s (beneficiaries) standard of living and well-being. Its effectiveness depends on mustahiq’s wisdom in managing finances.  The objective of this study is to conceptually discuss on the development of an impact-focused framework for the mustahiq using the financial management practices (FMP) as a quality intervention program.  The research framework of this study is built on the Theory of Change and Logic Model that posited quality of intervention contributes to a series of outcomes and intended impact.  This study discusses three propositions.  First, the best FMP as a quality intervention for the ZME.  Second, a social impact measurement framework for ZME programs and third, the description of the data collection application using mixed-methods for the proposed framework. The outcomes of this study will benefit zakat institutions in evaluating the effectiveness of zakat funds in improving the well-being of the mustahiq.

Published
2021-05-31
How to Cite
JOREMI, Leylawati; MUDA, Ruhaini; KAMARUDDIN, Juliana Noor. Enhancing Financial Management Practices for Zakat Micro-entrepreneurs in the New Normal through Impact-Focused Framework: A Conceptual Paper. ADVANCES IN BUSINESS RESEARCH INTERNATIONAL JOURNAL, [S.l.], v. 7, n. 1, p. 159-169, may 2021. ISSN 2462-1838. Available at: <https://myjms.mohe.gov.my/index.php/ABRIJ/article/view/14303>. Date accessed: 21 july 2024. doi: https://doi.org/10.24191/abrij.v7i1.14303.
Section
Articles