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Zakat and its Socio-Economic Merits: A Holistic View towards Eradication of Poverty

Zakat and its Socio-Economic Merits: A Holistic View towards Eradication of Poverty

Mohammed Abdul Karim Al-Banna, Ian Michael
Copyright: © 2015 |Pages: 19
ISBN13: 9781466681392|ISBN10: 146668139X|EISBN13: 9781466681408
DOI: 10.4018/978-1-4666-8139-2.ch013
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MLA

Al-Banna, Mohammed Abdul Karim, and Ian Michael. "Zakat and its Socio-Economic Merits: A Holistic View towards Eradication of Poverty." Islamic Perspectives on Marketing and Consumer Behavior: Planning, Implementation, and Control, edited by Bikramjit Rishi, IGI Global, 2015, pp. 296-314. https://doi.org/10.4018/978-1-4666-8139-2.ch013

APA

Al-Banna, M. A. & Michael, I. (2015). Zakat and its Socio-Economic Merits: A Holistic View towards Eradication of Poverty. In B. Rishi (Ed.), Islamic Perspectives on Marketing and Consumer Behavior: Planning, Implementation, and Control (pp. 296-314). IGI Global. https://doi.org/10.4018/978-1-4666-8139-2.ch013

Chicago

Al-Banna, Mohammed Abdul Karim, and Ian Michael. "Zakat and its Socio-Economic Merits: A Holistic View towards Eradication of Poverty." In Islamic Perspectives on Marketing and Consumer Behavior: Planning, Implementation, and Control, edited by Bikramjit Rishi, 296-314. Hershey, PA: IGI Global, 2015. https://doi.org/10.4018/978-1-4666-8139-2.ch013

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Abstract

The chapter investigates the role Zakat (alms giving) in eradicating poverty around the world. It (Zakat) is one of the five main pillars of Islam; it is the practice of charitable giving by Muslims based on accumulated wealth and is expected to be paid by all practicing Muslims having the financial means. As part of the study, a questionnaire that consisted of five questions to enquire about how Zakat can eradicate poverty was administered to 200 Muslim people living in the United Arab Emirates (UAE). Further, the questions were designed targeting the core goals of a Zakat institution that also reflected the Muslims psychometric behavioural aspects. Islam has 1.57 billion followers, making up over 23 percent of the world population (Pew Research, 2011). With such a vast population, the role of Zakat in alleviating poverty is an achievable objective.

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