Ramadhan, Inflation, and Zakat: Testing the Economic Justice of the Ummah
Ramadhan always brings a different atmosphere. Mosques are busier, social awareness rises, and the spirit of sharing feels stronger. Yet it also carries significant economic consequences.
In Indonesia, household consumption accounts for approximately 53–55 per cent of GDP according to BPS data for 2023–2024, meaning that every surge in public spending directly affects national economic growth — and Ramadhan is one of the largest seasonal moments driving that consumption.
Behind all of this, however, a fundamental question arises: does the increase in economic activity during Ramadhan genuinely improve the welfare of the ummah equitably?
From the perspective of maqashid al-syariah, safeguarding wealth (hifz al-mal) and creating distributive justice are primary objectives. Welfare is not merely about GDP growth; it is about reducing poverty and narrowing inequality.
If inflation is left unchecked and zakat remains nothing more than an annual routine without transformation, Ramadhan loses part of its social meaning. Yet if price stability is maintained and zakat is managed productively, Ramadhan could become an engine of economic justice that operates every year.
Ultimately, Ramadhan serves as a mirror reflecting both our spiritual life and our economic system — a reflection of whether our economy truly embodies the values we profess to believe in.
In Indonesia, household consumption accounts for approximately 53–55 per cent of GDP according to BPS data for 2023–2024, meaning that every surge in public spending directly affects national economic growth — and Ramadhan is one of the largest seasonal moments driving that consumption.
Behind all of this, however, a fundamental question arises: does the increase in economic activity during Ramadhan genuinely improve the welfare of the ummah equitably?
From the perspective of maqashid al-syariah, safeguarding wealth (hifz al-mal) and creating distributive justice are primary objectives. Welfare is not merely about GDP growth; it is about reducing poverty and narrowing inequality.
If inflation is left unchecked and zakat remains nothing more than an annual routine without transformation, Ramadhan loses part of its social meaning. Yet if price stability is maintained and zakat is managed productively, Ramadhan could become an engine of economic justice that operates every year.
Ultimately, Ramadhan serves as a mirror reflecting both our spiritual life and our economic system — a reflection of whether our economy truly embodies the values we profess to believe in.