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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: © 2019 |Pages: 15
ISBN13: 9781522573111|ISBN10: 1522573119|EISBN13: 9781522573128
DOI: 10.4018/978-1-5225-7311-1.ch026
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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." Socio-Economic Development: Concepts, Methodologies, Tools, and Applications, edited by Information Resources Management Association, IGI Global, 2019, pp. 500-514. https://doi.org/10.4018/978-1-5225-7311-1.ch026

APA

Al-Banna, M. A. & Michael, I. (2019). Zakat and Its Socio-Economic Merits: A Holistic View towards Eradication of Poverty. In I. Management Association (Ed.), Socio-Economic Development: Concepts, Methodologies, Tools, and Applications (pp. 500-514). IGI Global. https://doi.org/10.4018/978-1-5225-7311-1.ch026

Chicago

Al-Banna, Mohammed Abdul Karim, and Ian Michael. "Zakat and Its Socio-Economic Merits: A Holistic View towards Eradication of Poverty." In Socio-Economic Development: Concepts, Methodologies, Tools, and Applications, edited by Information Resources Management Association, 500-514. Hershey, PA: IGI Global, 2019. https://doi.org/10.4018/978-1-5225-7311-1.ch026

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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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