- Title
- Assessing zakat literacy levels among South African certified financial planner (CFP®) professionals
- Creator
- Pandie, Raaiq
- Subject
- Zakat -- South Africa
- Subject
- Financial planners -- South Africa
- Subject
- Investment advisors -- South Africa
- Subject
- Islam -- Economic aspects -- South Africa
- Date Issued
- 2024-04
- Date
- 2024-04
- Type
- Master's theses
- Type
- text
- Identifier
- http://hdl.handle.net/10948/65377
- Identifier
- vital:74097
- Description
- Zakat is important in Islam as it is one of the five pillars of the faith. Muslim individuals are required to give a portion of their wealth to those in need, serving as a means of wealth distribution and poverty alleviation. Given the annual obligation for qualifying Muslims to pay Zakat, possessing or having access to the essential knowledge of Zakat calculation is important to ensure accurate payment. Although existing research provides insights into Zakat calculations, it does not address which professionals or individuals can assist Muslims with their Zakat calculations. Muslim individuals without the capability to calculate their annual Zakat precisely are susceptible to unintentionally making incorrect payments. To address this risk, access to professional Islamic financial advice within the South African financial services industry becomes important. In this industry, the Certified Financial Planner (CFP®) designation stands as the highest globally recognised professional qualification in financial planning. CFP® professionals possess the potential to assist Muslim clients in the accurate calculation and payment of their annual Zakat. Given the lack of research attention focusing on Zakat literacy in South Africa, particularly within the financial planning profession; the primary objective of this study was to measure the Zakat literacy levels among South African CFP® professionals, recognising the significance of Zakat in Islam and the importance of providing Muslim individuals with the knowledge to accurately calculate their Zakat. A comprehensive literature review consisting of two literature chapters was undertaken to provide context and framework for the study. The first literature review focused on contextualising Zakat and Islamic finance in the financial services industry, an overview of Islamic finance within the financial services industry, and the nature and importance of Zakat for South African Muslims. This led to the second literature review, which examined Zakat and Zakat literacy. After conducting a comprehensive review of the literature, the Zakat literacy index utilised in this study was adapted from an Indonesian Zakat literacy index, integrating two dimensions of knowledge. The first dimension is the basic knowledge of Zakat, and the second dimension is advanced knowledge of Zakat. Each dimension of the BAZNAS ZLI consisted of five variables, namely general knowledge of Zakat, knowledge of the obligation to pay Zakat, knowledge of the eight Asnaf, knowledge
- Description
- Thesis (MCom) -- Faculty of Business and Economic Sciences, School of Management Sciences, 2024
- Format
- computer
- Format
- online resource
- Format
- application/pdf
- Format
- 1 online resource (xiv, 210 pages)
- Format
- Publisher
- Nelson Mandela University
- Publisher
- Faculty of Business and Economic Sciences
- Language
- English
- Rights
- Nelson Mandela University
- Rights
- All Rights Reserved
- Rights
- Open Access
- Hits: 164
- Visitors: 170
- Downloads: 16
Collections
NMU School of Management Sciences
| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details Download | SOURCE1 | Pandie, R April 2024.pdf | 3 MB | Adobe Acrobat PDF | View Details Download |