SYNERGY OFZAKAT AND ENDOWMENTS PRODUCTIVEMANAGEMENT WITH THE DEVELOPMENT OF ISLAMIC MICROFINANCE INSTITUTIONS

Abstract

The problem in this research is management of zakat, that need to preserveon the credibility andaccountability of the management institution of zakat, in order not to appearincredulitydue to errorsand infringement in zakat management. Based on IDB (Islamic Development Bank)research,thepotential of zakat in Indonesia attainRp 100 trillion per year. Ironically, zakat gatheredby Baznas(Badan Amil Zakat Nasional) is still very scant. From Zakat fundsaccumulated, the funds are stilldispensed for consumptionpurpose(short-term funds). Onthe account of the inauguralconferenceofthe International Working Group on Zakat Core Principles (IWGZCP) late last August, it wascoincidedthat the identification of risks in zakat management is verynotablebecause it will affect thequality of Zakat management in the future. There are at least four types of risks that have beenrecognizedand the world of zakat must have anincisive concept in mitigating those risks. First,reputation risk and lossof muzaki; Second, the credit risk; Third, operational risk, and the fourth is arisk transferof zakat crosscountries (Beik, 2014).The method usedto identify the risksisEnterpriseRisk Management (ERM). By conductingERM, identifying risk probability, risk impact, and riskmitigationareable tobe performed.

Keywords: Zakat, risk management, zakat management, risk management of zakat