RE-ESTIMATING THE ZAKAT POTENTIAL IN INDONESIA BASED ON CLASSICAL AND CONTEMPORARY FIQH APPROACHES

Abstract

This study aims to re-estimate the potential of zakat in Indonesia based on theclassical and contemporary fiqh approaches, as well as including optimistic andrealistic scenarios with different assumptions. Under the classical fiqh approach, thepotential amount of zakat was calculated based on the zakatable assets that havebeen agreed upon by all scholars, including only zakat on savings. Meanwhile, usingthe contemporary fiqh approach, the zakat potential was calculated based on a newclassification of zakatable assets agreed by contemporary scholars after considering theissue of economic development, including professional (household) zakat, corporatezakat and zakat on savings. The results show that, based on the classical fiqh approach,the potential zakat amount is IDR 69.57 trillion, or equivalent to 0.56% of GDP underthe optimistic scenario, and it is IDR 13.26 trillion, or equivalent to 0.11% of GDP,under the realistic scenario. Meanwhile, based on the contemporary fiqh approach, thepotential zakat amount is IDR 216.54 trillion, or equivalent to 1.75% of GDP, under theoptimistic scenario, and it is IDR 74.87 trillion, or equivalent to 0.60% of GDP, underthe realistic scenario. The estimated zakat potentials are still significantly higher thanactual zakat collection recorded. However, the results of classical approach under therealistic scenario (0.11% of GDP) is the closest to the real 2018 zakat collection of 0.05%of GDP, which could be the indication that most Indonesian Muslims follow classicalfiqh approach in calculating their zakat maal obligation.