Operational management in an Islamic economy: The case of Zakah administration
The significance of the Zakah institution to any Islamic economy, it links to financial viability and economic progress has made it a must to modernize the sector to go in line with modern realities. Poor management of Zakah institutions has been described as detrimental to the efforts of these institutions to collect and disburse Zakah effectively. This paper looks at applications of mathematical and quantitative techniques with the view to achieving optimality and efficiency in business of collection and disbursement of Zakah. The mathematical applications tested are the techniques of contribution maximization, programming, and game theory. The potential applications of this field of mathematics to Zakah operations are vast. It calls for concerted efforts and focuses by researchers, policymakers and Islamic scholars on finding the most efficient way of deploying operation research techniques in the management of Zakah institutions.
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