Questions arise on the efficiency of zakat collection and distribution and its socio-economic effects from Maqasid al-Shariah perspective. This paper attempts to expound some anticipated objectives (maqasid) and wisdoms of zakat obligation which is one of the pillars of Islam. In relation to this, there are some current issues pertaining to the collection of zakat such as the legitimacy of zakat on paper money, commercial crops and fruits, different kinds of incomes and mechanisms to improve zakat collection and distributions. This paper proposes some suggestions to address those issues with the anticipation that the contemporary zakat system will stay align with the broader objectives of Islamic law, including justice, equity, and social welfare.

This research paper aims to explore aspects of smart contract technology in Islamic finance, focusing on its legitimacy, objectives, and potential applications in Islamic social finance. This study relies on comparative qualitative analysis methodology and revolves around discussing the nature of smart contracts, the challenges related to their formulation and implementation, regulatory frameworks, and the cryptocurrencies used within them. The study presents proposed models for utilizing smart contracts in Islamic social finance and uses comparisons between different experiences to provide in-depth insights.This article also presents proposed models for leveraging smart contracts in Islamic social finance, using a comparative qualitative analysis approach. The study underscores the significance of integrating new innovations to maintain leadership in finance, as Islamic finance seeks to integrate its principles with Sharia-compliant systems and develop products that combine technological excellence with Sharia compliance. This study provides important findings and valuable recommendations for integrating smart contracts into Islamic social finance, contributing to enhancing innovations and developing advanced financial tools that effectively meet market needs while complying with Sharia principles.