Zakat and its socio-economic merits: A holistic view towards eradication of poverty

Document Type

Book Chapter

Source of Publication

Islamic Perspectives on Marketing and Consumer Behavior: Planning, Implementation, and Control

Publication Date

2-28-2015

Abstract

© 2015 by IGI Global. All rights reserved. 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.

ISBN

9781466681408

Publisher

IGI Global

First Page

296

Last Page

314

Disciplines

Business

Scopus ID

84945416267

Indexed in Scopus

yes

Open Access

no

Link to Full Text

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