Zakat on Shares: Strategies for Optimizing Zakat Collection from the Securities Sector (Survey on Health and Industry Listed on the Indonesia Stock Exchange)
Sri Fadilah, Epi Fitriah, Nopi Hernawati, Sintiya Sustika, Hasan Nasrullah

Department of Accounting, Faculty of Economics and Business, Bandung Islamic University

Abstract

The purpose of this study is to determine and calculate stock zakat as a strategy to optimize zakat collection. The background of the research stems from the significant gap between zakat potential and actual collection in Indonesia. With the zakat potential estimated at hundreds of trillions of rupiah, actual realization remains low. This study explores zakat on shares as an alternative source to increase zakat collection. Theoretical frameworks applied include agency theory and entity theory. A descriptive survey method was used, targeting companies in the health and technology sectors listed on the Indonesia Stock Exchange. The data collection technique used is documentation, specifically financial statements as of December 31, 2023. A total of 59 companies were analyzed. The study calculated stock zakat using several accounting-based methods including Net Asset, Entitlement, and Net Profit approaches. The findings show that zakat on shares is a promising new potential source of zakat, with significant value found in both health and technology sectors. The total zakat potential identified was over IDR 4 trillion, with a per-share zakat index value of IDR 19.64. These results provide a reference for zakat institutions and policymakers in developing more effective and targeted zakat collection strategies, particularly through corporate compliance and sharia-based financial mechanisms.

Keywords: Social Responsibility, Zakat, Corporate Zakat, Share Zakat

Topic: Economic Welfare in Terms of Islamic Perspective