“Post COVID-19 Economic Recovery: The Role of World Zakat Forum”
The novel coronavirus, which was then designated as COVID-19, has been infecting the world since the beginning of 2020. To date, almost thirty million people around the globe have been suffering from the virus and more than nine hundred thousand people worldwide dead to this virus.
Like the virus’ deadly effect or even worst, COVID-19 has been infectious to the global economies. That happens due to the control measures implementation – which in one word may be understood as lockdown – has been shaping other forms of poverty around the world, notably in emerging market and developing economies. That is, forecasts have been made upon its impact on the global macroeconomic where many countries are to experience – even have now experienced – the fall on their Gross Domestic Products (GDP). The COVID-19 recession has now been a reality for many countries around the world.
In Muslim majority countries, the discussion of zakat upon its potential in managing the consequences of COVID-19 has thus been significant since the virus has been spreading worldwide. In this regard, the World Zakat Forum (WZF) has been contributing to provide a global platform where zakat stakeholders from the WZF member countries have shared their thoughts and experiences on capturing the role of zakat in time of COVID-19 pandemic. That is, in view of the rise on poverty due to a government’s preventive measure, the demand for zakat has thus been mounting in consideration to the primary zakat beneficiaries are the poor and the needy.
At this WZF, our Chief Executive Officer (PPZ-MAIWP), Haji Ahmad Shukri Yusoff has represent the Zakat Institution in Malaysia at Day 1 in the Plenary Session. The paper title is The Role of Zakat in Cushioning the Impact of Covid-19 The Case of Malaysia.