Balancing Tradition and Modernity: Monetizing Zakātul Fiṭr And Its Contribution to Halal Industry Sustainability

Abstract

Islam exceeds the conventional conception of a program merely focused on spiritual growth and religiosity, rather it espouses an all-inclusive approach that incorporates both spiritual and material realms. Through the provision of ḥalāl wealth, Islam empowers its adherents with tools to harness the glamour of the universe. However, balancing between its traditional and modern approach remains an intricate question among some Muslim scholars, which Monetizing Zakātul Fiṭr (MZF) serves as its classic example. This paper, therefore, aims to study balancing the tradition and modernity of Islamic law through the phenomenon of monetizing Zakātul Fiṭr and its contribution to sustainability of Halal Industry which serves to ameliorate the lives of Muslims globally. The research methods adopted for this work are historical and analytical, for the purposes of studying the historical advent of Halal industry as well as analyzing the opinions of the scholars concerning the phenomenon. The paper reveals that monetizing Zakātul Fiṭr can contribute to sustainability of Halal industry by increasing financial inclusion for socioeconomically challenged individuals and families. The paper concludes that Islam offers a balanced and adaptable framework, integrating the principles of tradition and modernity as it provides Muslims with the flexibility to respond efficiently to changing circumstances. Via recommendation, this paper implores Halal market to expand its focus to incorporate other critical areas where Muslims face major deficits, notably Halal agriculture and livestock, Halal e-commerce, Halal blockchain certification among others across the expanse of Muslim world, including African countries.