Sharia Fintech as a Sharia Compliance Solution in the Optimization of Electronic-Based Mosque’s Ziswaf Management

Abstract

Research data from the Center for Strategic Studies of Baznas on Zakat Mapping Potential Indicators (IPPZ), which analyzes the calculation of zakat potential based on sectoral and regional zakat objects, shows that Indonesia has the potential for zakat of IDR 233.8 trillion in 2019. However, only 3.5 percent of them can be managed. Therefore, Baznas has collaborated with fintech but it is not yet based on sharia. This study uses the Islamic Economic Research Method (Muamalah) with a descriptive normative approach. The results showed that the digitalization of ZISWAF through fintech was effective and the results exceeded the target. On the other hand, according to some scholars, several forms of fintech operations contain non-Islamic elements. Therefore, the Baznas agreement must explicitly state that fintech should separate ZISWAF funds from other fintech user funds so that they are not considered as float funds to be placed in BI; and do not utilize ZISWAF funds. Neither Baznas, muzakki, nor mustahik can benefit from depositing funds. Sharia fintech is a practical solution for UPZ Masjid to increase zakat inclusion. Unfortunately, Indonesia has no regulations related to sharia fintech.