IMPLEMENTATION OF ZAKAT FOR DEVELOPING NEW ENTREPRENEURS IN MEDAN, INDONESIA
This paper aims to investigate the implementation of Zakat as a means of developing new entrepreneurs in Medan, Indonesia. The study utilizes a qualitative research methodology, including interviews and case studies, to understand the current situation and the potential impact of Zakat on entrepreneurship development. The results show that Zakat has the potential to provide financial and non-financial support to budding entrepreneurs, empowering them to start and grow their businesses. Moreover, the study discusses the role of Zakat in addressing social and economic inequalities, promoting sustainable development, and fostering a culture of philanthropy and entrepreneurship in the community. The findings highlight the need for strategic collaboration between Zakat institutions, government agencies, and local communities to create effective programs and initiatives that can harness the full potential of Zakat for entrepreneurial development. Overall, this paper contributes to the ongoing discourse on the role of Zakat in promoting economic development and social welfare, specifically within the context of fostering entrepreneurship in Medan, Indonesia.
Zakat, Entrepreneurship, Economic Development, Social Welfare, Financial Literacy, Mentorship.