IsDB Group Participates in World Zakat Forum International Conference 2020

The Islamic Development Bank (IsDB) Group, represented by the Regional Hub of Indonesia, has participated in the World Zakat Forum International Conference organized by World Zakat Forum (WZF) and Indonesia’s National Zakat Agency (Baznas).

The Islamic Development Bank (IsDB) Group, represented by the Regional Hub of Indonesia, has participated in the World Zakat Forum International Conference organised by World Zakat Forum (WZF) and Indonesia’s National Zakat Agency (Baznas).

The conference took place virtually on 30th of November 2020, with the participation of H.E. Vice President of Indonesia, Prof. Dr. K.H. Ma’ruf Amin; and H.E. Jenderal TNI (Pum) Fachrul Razi, SI.P., SH. M.H., Minister of Religious Affairs of the Republic of Indonesia, as well as representatives from WZF, Baznas, and several other Zakat organisations.

H.E. Dr. Bandar Hajjar, President of IsDB, had been invited as a keynote speaker in the 9th WZF International Conference and Annual Meeting and he was very keen to participate in the Conference. However, due to other prior commitments, he was not be able to join this high-profile international event and directed the Head of the IsDB Regional Hub Indonesia, Mr. Salah Jelassi, to represent the IsDB in the conference.

The event specifically focused on the Post COVID-19 Economic Recovery and the Role of World Zakat Forum which has a mission to connect and synergise global zakat stakeholders comprising regulators, practitioners, researchers and academics as well as various organisations committed in developing and promoting zakat practices throughout the globe.

During the conference, Mr. Salah Jelassi delivered his points on the Zakat for Post COVID-19 Development in OIC Member Countries. He stated that he was impressed by the way modern and emerging technologies have found increasing application in the Zakat mobilisation and allocation efforts of BAZNAS.

“Zakat and Sadaqah are increasingly being used by national and international humanitarian and development agencies as cash transfers that may be conditional or unconditional. During the pandemic, some of IsDB Member Countries have increasingly used such funds to cover the expenditure on testing kits, protective gears and equipment,” he stated.

He also pointed out the importance of digital technology, such as fintech and e-commerce industry in pandemic era which can raise efficiency to a level where logistics related costs can be minimised to a negligible level. Application of fintech can also drastically reduce informational asymmetry between donor and beneficiaries; and ensure due diligence and monitoring with complete transparency. This has a huge positive impact in mitigating the trust-deficit between donors and zakat management institutions.