Stochastic Dynamic System Implementation to Predict Nisab Values in Zakat Application

Every Muslim is required to donate a specific portion of their assets as zakat when certain circumstances are met. Zakat is paid to be given to those who are eligible to receive it and is one of the pillars of Islam. The nisab is the minimal amount of wealth a person must possess to be obligated to...

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Published in2023 6th International Conference of Computer and Informatics Engineering (IC2IE) pp. 282 - 286
Main Authors Haryanti, Dwi Asih, Susanti, Beny, Andriani, Feni, Lestari, Dewi Putrie, Nugraha, Nurma
Format Conference Proceeding
LanguageEnglish
Published IEEE 14.09.2023
Subjects
Gibbs Sampling algorithm
gold prices
haul
Heuristic algorithms
markov chain monte carlo (MCMC)
Monte Carlo methods
nisab
Parameter estimation
prediction
Prediction algorithms
Predictive models
Real-time systems
stochastic dynamic system
Stochastic processes
zakat application
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Summary:Every Muslim is required to donate a specific portion of their assets as zakat when certain circumstances are met. Zakat is paid to be given to those who are eligible to receive it and is one of the pillars of Islam. The nisab is the minimal amount of wealth a person must possess to be obligated to pay zakat. With the development of information and technology, zakat payments can now be easily done, with the prediction of when someone can pay zakat. This research is an implementation to predict to pay zakat according to nisab and haul by using a stochastic dynamic system. In this study, using the Bayesian method with Markov Chain Monte Carlo (MCMC) i.e. the Gibbs Sampling algorithm was applied to estimate the dynamic to convergent stochastic model parameters. Stochastic dynamism is a concept that allows for the fact that the price volatility of testicles based on gold prices varies from time to time and is not constant. This model is used to predict nisab and haul in the Zakat Sukses application. Based on the stochastic dynamic model obtained, the prediction results for zakat are almost close to the actual data. The benefit of this research is that the predicted value obtained can be used as a reference for Zakat Sukses application users to find out the predictions of nisab and haul for zakat payers.
DOI:10.1109/IC2IE60547.2023.10331159