While most articles and studies are focused on zakat collection per se, this study would like to explore the optimality of zakat collection rate, albeit actual zakat collection rate versus potential zakat collection rate. Issues such as awareness, education and accountability are among the key obstacles that hinders the optimization of zakat collection rate. This study is explorative in nature. Data was collected from zakat institutions and Department of Statistics Malaysia, which are all publicly available, covering 2005 to 2022. Proxies were used for estimation of potential zakat collection rate, namely fraction of gross domestic product (GDP) and Muslim population. A formula was also used to complete this process. It was found that Kelantan is the state with the highest actual collection rate, followed by Kuala Lumpur and Terengganu. Issues of education, awareness and accountability is also present in this study; hence, better promotion of zakat and accountability of zakat institutions are required to optimize the zakat collection rate in Malaysia.

This study examines the Islamic banking industry's commitment to ESG (environmental, social and governance principles) in selected countries by assessing it from the maqasid al-Shari'ah (objectives of Islamic law) pyramid perspective. A rigorous quantitative study was conducted using the Refinitiv database, which covered 12 countries from 2020 to 2024, resulting in 497 observations. The study finds statistically significant evidence that the Islamic banking industry sets a high standard of ESG for Islamic banks to comply with at the country level. In the long run, the rate of commitment of the Islamic banking industry to each component of the ESG score is explained by the industrial environmental index score (7.21%), the social index score (25.43%), and the governance index (17.98%), respectively. This parameter provides information about the proportion of the ESG score to which there is a greater commitment than for the others. This suggests that the Islamic banking industry pays more attention to the social index score, followed by governance and the environment. It can therefore be deduced that the Islamic banking industry pays substantial attention to the social aspects as daruriyat (essentials), followed by strengthening governance factors as hajiyyat (needs) and the environmental factor as tahsiniyyat (embellishments). On average, the commitment of Islamic banks to ESG at the country level is statistically significant (49.73%). However, there is still scope for Islamic banks at the country level to increase their commitment. Since ESG commitment varies among Islamic banks, the number of Islamic banks with low ESG commitment contributes to the average being driven down. Therefore, the Islamic banking industry is expected to have a standardised industry benchmark for each ESG component and the combined ESG. This study adds value to the body of knowledge by exploring the Islamic banking industry's commitment to ESG through the three levels of maqasid al-Shari'ah-a first in this area that is not found in previous studies on ESG. The availability of data imposed certain constraints on including more countries beyond the selected Muslim nations. Nonetheless, the findings offer valuable insights for Islamic banks in countries not covered in this study. This study provides Islamic banks with a clear understanding of the extent of their contributions to ESG within the framework of maqasid al-Shari'ah. Therefore, each Islamic bank could re-strategise its approach as necessary. These findings present Islamic banks with the opportunity to examine the environment in which they operate and adhere to the most essential aspects of maqasid al-Shari'ah that are pertinent to that location, thus making their contribution significant to the local community.

A groundbreaking pilot initiative that addresses two of Malaysia's urgent challenges - youth financial hardship and the growing needs of an aging population - Yayasan KUIS, in partnership with MBSB Bank and the United Nations Population Fund (UNFPA) Malaysia, launched the Community Credit Fund. The fund can empower students and communities as well as enrich older persons, laying the foundation for a future Community Credit Exchange. Held at Universiti Islam Selangor (UIS), the launch was marked by addresses from institutionals leaders and testimonials from students participants. The initiative provides essential stipends to financially vulnerable university students in exchange for their voluntary service in nursing homes. These services include companionship, educational support and basic assistance to elderly residents - strengthening intergenerational solidarity and fostering meaningful social impact.

In a significant shift towards financial inclusivity and adherence to Islamic guidelines, the Maldives has announced a comprehensive overhaul of its government-issued education financings. This move comes in response to a directive from Maldives President Dr Mohamed Muizzu, who called for all government financings for higher education, both within the Maldives and abroad, to comply with Islamic principles. The Ministry of Higher Education, which oversees the issuance and management of these financings, has already initiated steps to implement the changes.

In a visionary move poised to reshape the future of global travel, Maldivian President Dr Mohamed Muizzu announced the designation and development of exclusive islands for halal tourism in the Maldives. The annoucement, made via the President's Official X (formerly Twitter) account, marks a strategic step toward redefining luxury through the lens of Islamic values and ethical hospitality. This landmark initiative will position the Maldives as a global leader in halal-friendly travel, combining world-class service with Shariah compliant experiences tailored for discerning Muslim travelers and ethical tourism investors.