International Journal of Accounting and Taxation

Role of Zakat in Business Growth and Empowerment Program: An Empirical Study
Mohammed Arshad Khan

Abstract
As an Islamic economic and social funding device, Zakat is a tool that contributes to human well-being. This study explored the effect of zakat empowerment initiatives on Zakir wealth (the zakat beneficiary) in connection to business growth as a mediating variable. Partial Least Square Structural Equation Modelling (PLS-SEM) is used in this quantitative study to analyse 186 Indian zakat foundations from various zakat empowerment programmes. Zakir wealth increases as a result of Zakat empowerment. This shows that Zakir's wealth and business have grown as a result of the empowerment programme. Zakir wealth and business assistantship have a beneficial and considerable effect on company growth as a mediating variable. In addition, GRDP and inflation, as well as internal factors like as age and educational attainment, have varying effects on Zakir's wealth creation. According to this report, the zakat empowerment programme has a significant effect in enhancing the wealth of Zakir. Zakat community empowerment is a way to reduce poverty and inequality in India, as well as a means of eradicating poverty.

Full Text: PDF     DOI: 10.15640/ijat.v10n1a1