Fund Management through Zakah Institutions: An Education Financing Solution

Abstract

Purpose: This study aims to comprehend the management planning, financial management, and evaluation management for using funds for financing education in the Muhammadiyah Regional Leadership (PDM) of the Sragen Regency. Design/methodology/approach: The quantitative data used in this study was gathered using a cross-sectional methodology. In this study, a questionnaire with a five-point Likert scale is used. The respondents in this study were those who work directly for Muhammadiyah Regional Leadership (PDM) Sragen Regency.

Findings: The study's conclusions point to Trensains High School's implementation of a (zakat, infaq, and sadaqah) ZIS money management system as one strategy for resolving the neighbourhood's challenges. Additionally, this study showed that Zakat resources should be used fairly to enhance students' comprehension and learning. Research limitations/implications: This study has improved the theory by presenting a new framework for understanding how management planning, financial management, and evaluation management relate to finance for higher education. The practical ramifications of this research are equally important because it introduces a new method of financing higher education based on the Zakat. Originality/value: This study, which is unique work, developed and clarified a novel paradigm for financing higher education. Additionally, the results of this study add to the body of literature.