Welfare in Islamic Perspective and the Affecting Factors

Author(s)

Muhammad Damiri Miyasto , Tatik Mariyanti , Roikhan M. Azizi ,

Download Full PDF Pages: 42-56 | Views: 801 | Downloads: 285 | DOI: 10.5281/zenodo.3510044

Volume 8 - August 2019 (08)

Abstract

Welfare is a condition that should be pursued by humankind, as the word of Allah in the Qur’an surah Al Qashash verse 77, but the efforts to achieve it often do not involve Allah SWT. Factors that influence the perspective of Islam are factors of religiosity (FR), namely the provisions of Allah SWT. through zakat and waqf, internal factors (FI) itself through investment and external factors (FE), namely through government capital expenditure, government social expenditure and development. Indonesia is the largest Muslim country in the world, but the welfare of its people still lags between Singapore and Thailand. This study aims to assess welfare in an Islamic perspective and the affecting factors of welfare. The research data taken from secondary data is panel data with a study population of 34 provinces in Indonesia from 2012 to 2017. Quantitative research methods with inferential statistics using panel data regression analysis. Data collected through written and electronic documents from BPS, BAZNAS, BWI and other institutions, are analyzed using panel data analysis with the Eviews9 program. The classic assumption test used are the normality test, multicollinearity, heteroscedasticity and autocorrelation. This research uses the theory and concept of Islam and Tawhidi String Relations. The result shows that zakat, waqf and government social spending has a direct and significant effect on welfare, while investment has a negative effect on welfare. The second result is a new discovery, and from this discovery can be concluded that the influence of zakat and waqf on welfare is no longer limited to a mere theory and study but can be proven theoretically and empirically. This research recommends the policy maker to give more consideration in arranging Islamic instruments, especially zakat and waqf in improving welfare of the citizen. The results of this study also provide strong scientific support for zakat and waqf institutions, both the government and the NGO to improve their performance and programs as an effort to improve community welfare as expected

Keywords

Wellbeing, Welfare, Development, Zakat, Endowments, Domestic Investment, Government Capital Expenditures, Government Social Expenditures.

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Muhammad Damiri Miyasto , Welfare in Islamic Perspective and the Affecting Factors, International Journal of Management Sciences and Business Research 08(2019):42-56 DOI: 10.5281/zenodo.3510044