TITLE:
Success Factors for Baitulmal Management during the Reign of Caliph Umar ibn Abdul Aziz
AUTHORS:
Radieah Mohd Nor
KEYWORDS:
Management, Baitulmal (Treasury), Caliph Umar ibn Abdul Aziz, Success Factors
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.3 No.5,
May
8,
2015
ABSTRACT: In general, baitulmal is a store treasury or property house which manages all properties and financial resources of Muslims community. Therefore, primary responsibility of baitulmal is managing assets and finances that are owned by and entrusted to Muslims community such as zakat, wakf, usyur, khaaraj and other sources that are permitted by Islamic law as an effort to reduce poverty and for socio-economic development. This article intends to examine the management of baitulmal during the period of Caliph Umar ibn Abdul Aziz. This is important because Caliph Umar ibn Abdul Aziz has made several revolutions throughout his reign. Based on textual analysis, six critical success factors for treasury management during his reign have been identified. The factors are healthy environment for economic growth, strengthening of the baitulmal, stimulating and boosting the business sector, creating new rules for the agricultural sector, giving more focus to the general fund stored in the treasury and the last factor is vigilance with the use of the national treasury.