Zakat as an annual flow of charity funds has received increasing attention of financial regulators and policy makers. Unlike other forms of Islamic philanthropy, zakat is mandated and compulsorily levied on every high-net-worth Muslim. Its primary goal is to serve as a tool to provide for the...

Different from a conventional cooperative, a Shari'ah-based cooperative observes Shari'ah principles. As these cooperatives offers Islamic financial products and involves in Shari'ah compliant investment, they are bound to observe Shari'ah governance structure, transparency, disclosure of...