INITIATIVES OF ZAKAT INSTITUTION IN MALAYSIA TO AID SMALL AND MEDIUM-SIZED ENTERPRISE (SME) DURING THE COVID-19 PANDEMIC
DOI:
https://doi.org/10.53840/ijiefer80Keywords:
Zakat Institutions , Initiatives,, SMEAbstract
The COVID-19 epidemic, an unanticipated global phenomenon, has essentially paralyzed commerce and wrecked the economy. It has impacted the majority of businesses, particularly small and medium-sized businesses (SMEs) and micro-SMEs, which account for a considerable 98.5 percent of firms in Malaysia. Behind this disaster, there are various parties that help SME entrepreneurs including zakat institutions. This article describes how zakat institutions are assisting asnaf who own small enterprises which have been impacted by the COVID-19 pandemic in Malaysia. During the research, qualitative research methods and comparative analysis were applied. According to studies, zakat institutions in Malaysia seek to provide various sorts of help to asnaf entrepreneurs. Cooperation with government agencies, the delivery of financial aid, and the provision of training are only a few of them. The zakat institution's initiative demonstrates that it is capable of upholding trust and is concerned about the difficulties faced by Malaysia's Muslim population.
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