Zakat, Infaq, Alms, and Waqf as Concepts of Asset Management in Islam

Ustadz Manatahan September 02, 2025 0

Gambar Ilustrasi (Ist)

By: Ustadz H. Ahmad Fauzi Qosim, S.S., M.A., M.M

In everyday life, we often hear the terms zakat, infaq, alms, and waqf. All of these are part of Islamic philanthropy, which is inseparable from the concept of wealth. Assets have a very important meaning and purpose. In this article, we will discuss the concept of wealth as it relates to humans as their users, including how wealth and its management play a role in the life of a Muslim who does good.

The Role of Humans on Earth

When Allah created humans, He gave them two important roles: as servants (Abid) and as caliphs (khalifah) on earth. In carrying out these roles, humans are given not only souls but also bodies. Life in this world is a means to the afterlife. Therefore, it is important for us to think about our future in the afterlife. The Prophet Muhammad (peace be upon him) reminded us to be spiritually intelligent, namely by preparing ourselves for the afterlife. In this regard, wealth is one tool that can be used to achieve happiness in this world and the hereafter.

An intelligent person is one who conquers himself and works for the afterlife, and a weak person is one who follows his desires while hoping in Allah SWT.

The Concept of Wealth in Islam

So, what is the true meaning of wealth in Islam? In the Quran, there are several terms used to describe wealth, including:

1. Fadlun: Meaning virtue or excellence. Owning wealth means having excellence in good deeds and being able to use it to contribute to society.
2. Malun: Derived from the word "mala ya milu mailan," which means a tendency towards valuable objects. The wealth we possess, such as money and gold, is something we tend to desire.
3. Rizkun: The definition is a gift. Wealth is a form of sustenance bestowed upon us by Allah. However, sustenance is not limited to wealth, but also includes knowledge and other benefits.

Wealth Management

After we receive wealth, it is important to manage it wisely. The wealth we receive can be saved and spent. Saving wealth can be described as a form of investment in preparation for the afterlife. Investing not only aims to increase the value of assets but also to ensure we leave a legacy that benefits future generations.

The next question is, is it permissible to hoard wealth? It is permissible to hoard sufficient amounts to be used in case of urgent need in the future. Any excess can be spent as needed, without being stingy or wasteful. In this context, we must be careful not to fall into the trap of stinginess or hoarding wealth. Allah, in the Qur'an, says in Surah Al-Furqan, verse 67, about not being wasteful or stingy. Allah also warns us in Surah Al-Humazah about the dangers of hoarding wealth and considering it a guarantee of life.

وَالَّذِيْنَ يَكْنِزُوْنَ الذَّهَبَ وَالْفِضَّةَ وَلَا يُنْفِقُوْنَهَا فِيْ سَبِيْلِ اللّٰهِ ۙفَبَشِّرْهُمْ بِعَذَابٍ اَلِيْمٍۙ

And, people who don't give excessively and are not (also) stingy when they donate. (Their impact) is halfway between the two. (Q.S. al-Furqan: 67) 

وَيْلٌ لِّكُلِّ هُمَزَةٍ لُّمَزَةٍۙ(1) ۨالَّذِيْ جَمَعَ مَالًا وَّعَدَّدَهٗۙ(2)يَحْسَبُ اَنَّ مَالَهٗٓ اَخْلَدَهٗۚ(3)

Woe to every curser and detractor (1) Those who gather wealth and count it. (2) Those who think that their wealth will last them forever. (3). Q.S. al-Humazah: 1-3

The Importance of Equitable Distribution of Wealth

We also need to learn about the concept of equitable distribution of wealth. In Islam, it is important to ensure that wealth does not circulate only among the wealthy. Therefore, almsgiving in the form of sadaqah, zakat, and waqf serve to distribute wealth to those in need. Allah SWT has reminded us of this distribution of wealth in the Quran. Allah SWT says:

الَّذِيْنَ يُنْفِقُوْنَ فِى السَّرَّۤاءِ وَالضَّرَّۤاءِ

(namely) those who always give charity, both in times of ease and hardship, (Q.S. Ali Imran: 134)

مَآ اَفَاۤءَ اللّٰهُ عَلٰى رَسُوْلِهٖ مِنْ اَهْلِ الْقُرٰى فَلِلّٰهِ وَلِلرَّسُوْلِ وَلِذِى الْقُرْبٰى وَالْيَتٰمٰى

Whatever (wealth acquired without war) Allah bestowed upon His Messenger from the people of the towns is for Allah, the Messenger, the relatives, the orphans, the needy, and the traveler. (So) so that wealth does not only circulate among the rich among you. (Q.S. al-Hasyr : 7)

وَالَّذِيْنَ يَكْنِزُوْنَ الذَّهَبَ وَالْفِضَّةَ وَلَا يُنْفِقُوْنَهَا فِيْ سَبِيْلِ اللّٰهِ ۙفَبَشِّرْهُمْ بِعَذَابٍ اَلِيْمٍۙ

As for those who hoard gold and silver but do not spend it in the way of Allah, give them the good news of a painful punishment. (Q.S. at-Taubah: 34) 

Distribution of Wealth through Zakat, Infaq, Sadaqah, and Waqf

The equitable distribution of infaq is intended to realize the concept of justice in Islam. So, what is the definition of infaq itself? Linguistically, infaq is defined as the expenditure/distribution of wealth (spending, expenditure) that can be used for positive or negative purposes. When infaq is spent in the way of Allah or for good, it is called infaq fii sabilillah. This goodness can be used for the benefit of others, whether family, friends, or the community. Infaq can take various forms, including providing food, clothing, or financial assistance. Conversely, when it is spent on something negative, such as wastefulness or extravagance, it is called spending wealth in the way of Satan.

Furthermore, infaq is divided into two forms: nafqah (living) and sadaqah (giving). Nafqah is intended for one's own family, while sadaqah (almsgiving) is defined as fulfilling Allah's promise to fulfill the needs of others. 

Is almsgiving obligatory?

Allah SWT has explained that almsgiving (sadaqah) is obligatory. Allah says in Surah at-Taubah verse 103. 

خُذْ مِنْ اَمْوَالِهِمْ or وَتُزَكِّيْهِمْ بِهَا وَصَلِّ عَلَيْهِمْۗ

Take from their wealth shadaqah (in order to) purify and cleanse them, (Q.S. at-Taubah : 103) 

Based on this verse, wealth given in the form of charity can purify wealth and purify the soul. Charity is defined according to its conditions. The smallest or minimal charity is called zakat. Why is it called minimal or limited? Because zakat has minimum limits on type, nisab (the threshold), time (haul), and recipient. Almsgiving that is revolving and investment in nature is called waqf. This waqf can be categorized as social waqf jariyah (continuous) and commercial waqf jariyah (continuous).

The concept of wealth in Islam addresses not only general income and expenses but also how a Muslim conducts transactions. Some assets are obligated to be given (infaq) in the form of charity, which can be in the form of zakat or waqf. Proper and wise management of wealth will provide benefits not only in this world but also in the afterlife. By understanding and applying these concepts, we can contribute to society by preserving the blessings of our wealth, thus striving to gain the pleasure of Allah SWT. May we all become generous individuals who benefit others. Amen.

This article is sourced from the Zakat.or.id page which has been translated into English by the editorial team.