Zakat and Its Socio-Economic Merits

Document Type

Book Chapter

Source of Publication

Socio-Economic Development

Publication Date

1-1-2019

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.

Publisher

IGI Global

First Page

500

Last Page

514

Disciplines

Business

Indexed in Scopus

no

Open Access

no

Link to Full Text

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