Zakat is an obligatory payment that a free and rational Muslim who owns a certain amount of wealth has to observe. The idea of zakat investment was initiated by the belief that providing the poor and needy with a non-substantial amount of fund that is mostly used to pay for their consumption is not enough to tackle poverty. Collection of zakat itself also has been shown insufficient even to provide them with a subsistence level of income. Muslim scholars suggest a long-term measure involving the investment of zakat that not only supplement the poor with a stream of income that is more consistent and continuous, equip them with the opportunity for equity participation or provide them with projects that help improve their livelihood but also provide a source of revenue to fund overall Muslim economic development. However, Muslim scholars found that investment of zakat may make the payment legally vulnerable from the Shari>ca (Islamic law) point of view. Thus, many fatwa>s and views have been expressed by the Muslim scholars as guidelines to ensure that the investment activities conform to Shari>ca. This study examines contemporary policy and practice in the management of zakat investment in Malaysia, particularly at two zakat institutions: Majlis Agama Islam Wilayah Persekutuan and Lembaga Zakat Selangor. These two institutions are selected because they are the most vibrant zakat institutions in the country in terms of zakat revenue and they also are the most active in investing zakat. Given the many background complaints about the institutions’ inefficiencies in managing zakat particularly the large amount of undistributed zakat, it is thus pertinent to analyze the compliancy of these investment activities with the principles and purposes of zakat. The study finds that these institutions accordingly have moulded their investment activities not only to observe the principles of zakat but also according to the modern changes in the administration of zakat in the country as well as to cater for the recipients’ current needs. The study also finds that various policies have been set up to guide the management of these investment activities. Still, there remain numerous possibilities for improving these further.

Thesis advisor: Elizabeth Shlala / The fact that the most dangerous place to be as a woman is her home is an unnerving reality experienced on a cross-national scale, no matter the socio-political structure of their nation-states. This thesis fundamentally sources and deconstructs a common denominator between the United States, relayed as a secularized, democratic nation-state, and Morocco, understood as a monarchal, Shari'a informed nation-state, to be a patriarchal framework. In identifying the patriarchal framework as that which writes, interprets, and acts on laws and cultural beliefs, there is a recognition of how legal literature and praxis gives widespread impunity to men in their violence against women, especially in the home. Where they seek to keep punishment in the private sphere, this paper, in coordination with both North American and Moroccan feminists, seeks to drive punishment into the public sphere. In doing so, men and women will be understood as wholly equal at every level of the nation-state. / Thesis (BA) — Boston College, 2020. / Submitted to: Boston College. College of Arts and Sciences. / Discipline: Departmental Honors. / Discipline: International Studies.

Suite à la crise financière globale de 2008, ainsi qu’aux différents facteurs qui y ont mené, il est étonnant qu’une alternative éthique et juste pour une finance lucrative et stable n’existe toujours pas (ou du moins, demeure oubliée). Ayant décidé de contribuer au domaine pluri-centenaire du Droit Commercial de la Chari’a, nous avons été surpris par la découverte d’une problématique à l’origine de cette thèse. En France, nous avons suivi des débats doctrinaux intéressants dont les conclusions se rapprochent de la perception générale Occidentale quand à la nature de la finance Islamique, que ce soit au niveau de la finance basée sur le Droit de la Chari’a ou encore les exigences de sa pleine introduction dans le système juridique français de l’époque. Cet intérêt initial dans la finance islamique a ensuite mené à un intérêt dans la question des avantages d’éthique et de justice du Droit Commercial de la Chari’a dans son ensemble, qui est au coeur de cette thèse. Dans le monde moderne du commerce et de la finance d’aujourd’hui, les transactions sont marquées par une prise de risque excessive et un esprit de spéculation qui s’apparente aux jeux de hasard, et menant à des pertes colossales. Pire encore, ces pertes sont ensuite transférées à la collectivité. Par conséquent, y at-il des préceptes, des principes ou des règles éthiques et juridiques qui peuvent fournir une certaine forme de sécurité et de protection dans les marchés financiers d'aujourd'hui? Est-ce réalisable? Cette thèse soutient que la richesse de la jurisprudence islamique ainsi que ses règles dont les avantages n’ont pas encore été pleinement saisis et régénérés en réponse aux nouveaux défis d’aujourd'hui, peuvent encore fournir continuellement des solutions, et réformer des produits financiers de façon à refléter des principes de justice et d'équité. Dans ce processus, un éclairage nouveau sera apporté à certains sujets déjà connus dans le cadre de la contribution prévue de cette thèse, mais ne sera pas le principal objectif de la thèse. / Following the 2008 global financial meltdown and the various reasons that lead to it, it seemed inconceivable that no ethical and justice-driven alternative for highly lucrative and stable financing existed, or at the very least forgotten about. Deciding to contribute to the already centuries old and continuously developing domain of Shari’a Commercial law, we were first caught by surprise when we discovered one particular problem that sparked the start of this thesis. In France, we encountered interesting debates and doctrinal findings resembling a general and common western perception of the legal nature of Islamic Finance, being Shari’a Commercial law based financing, and the requirements for its full introduction into the French legal system at the time. This initial interest in Islamic Finance then evoked an interest in the ethical and justice driven gems of Shari’a Commercial law as a whole, and as the subject of this thesis. In today’s modern and global commercial and financial world, transactions are shrouded by excessive risk-taking and speculation akin to gambling, rendering at times colossal damages. To make matters worse, those damages are dislodged onto the public. Therefore, are there any ethical and legal precepts, principles and rules that may provide some form of a safety and social net in today’s financial markets? Is this achievable? This thesis argues that the richness of Islamic jurisprudence and its rules that have not had their benefits fully reaped and regenerated in response to new challenges till today, may still continuously provide solutions, as well as provide reforms to financial products, which exemplify justice and fairness. Within the process, new light will be shed on certain already known topics as part of the intended contribution of this thesis, but will not be the main objective of the thesis.