An Integrated Islamic Poverty Alleviation Model

Ashraf, Ali; Hassan, M. Kabir; Hunt‐Ahmed, Karen

doi:10.1002/9781118653814.ch14

Cited by 15 publications

(11 citation statements)

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“…The Islamic approach recommends measures for an equitable distribution of income across several factors of production, such as profit sharing. Islām prohibits ribā' (usury) and emphasises the distribution of profits on the basic definition of ratio, rather than a nominal fixed interest among stakeholders (Hassan, 2010).…”

Section: Positive Measuresmentioning

confidence: 99%

Maqāṣid Al-Zakāh and Poverty Alleviation: A Case Study on the Western Cape Muslims

Abdul-Jabaar

2022

IPSAJIS

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This article endeavours to explain how the Muslim practice of zakāh (almsgiving) is a viable model for poverty alleviation in the Western Cape. This paper will briefly examine the origin and history of zakāh, how it has developed over time, the relevant Sharī’ah aspects, its rulings, and the spiritual rewards relating to the practice, including those liable to pay and who are eligible to receive zakāh. A selection of the organisations in the Western Cape and their principal objectives to alleviate poverty will also be discussed. A holistic view will be presented explaining the epistemology of poverty. The consequences of poverty will be described, and then an assessment of what the State is doing regarding the reduction or alleviation of poverty in South Africa will be undertaken. This paper will also highlight both historical and contemporary views on the issue of zakāh. The conclusion provides some solutions, recommendations, and alternatives that could improve Muslim communities socially, economically, and spiritually.

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Section: Positive Measuresmentioning

confidence: 99%

Maqāṣid Al-Zakāh and Poverty Alleviation: A Case Study on the Western Cape Muslims

Abdul-Jabaar

2022

IPSAJIS

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“…Despite this, although Bangladesh has a huge wealth of waqf fund, waqf based fundraising and the development of waqf based projects are yet to develop enough to meet the needs of HEIs (Haron, 1998) and enhance the quality of life (Ashraf, Hassan, & Hunt-Ahmed, 2013). Meanwhile, similar to Malaysia, the expenditure on education is resultant of a combination of current and capital public spending.…”

Section: Literature Review: An Overview Of Financing Heis In Bangladeshmentioning

confidence: 99%

FINANCING HEIs THROUGH WAQF FUND IN BANGLADESH: ISSUES AND POSSIBILITIES

Hoque¹

2020

ijafr

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The aim of the paper is to explicate the narrative of waqf fund for funding higher educational institutions (HEIs) in Bangladesh. nowadays, there is the reason for preventing students to pursue their higher education which is costly matters. This paper highlights some problems in implementing waqf fund for financing HEIs in Bangladesh and offer some Easier way to overcome this condition through the implementation of a waqf fund based HEIs. As a qualitative approach, data were gathered by conducting the interview from directors, academician and scholar those who have expertise on the waqf fund-based financing HEIs in Bangladesh. In addition, a review of Waqf literature is placed to examine the present status of Waqf in Bangladesh. The results show that the position of the waqf fund is essential for contributing to the society of Bangladesh and strengthening its financial stability. Taking into consideration that needs and suitable for the higher educational institutions, some problems, and possible solutions have been discussed for the country in order for a transformation in higher education facilities. At the same time, some prospects have been proposed for the country. Raising funds by collecting Hibah /donation, raising funds by different activities and promoting funds from alumni have been proposed for higher education in Bangladesh. This paper discusses the experience of waqf fund implementation in some Malaysian higher educational institutions. It also contains observations from the experience of several past universities.

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“…The MFBs are established in Nigeria to focus on the clients who are within the range of "low-income earners, low income households, unbanked and underserved people (such as) vulnerable groups (including) women, physically challenged, youths, micro entrepreneurs (senior citizens), informal sectors operators, and subsistence farmers in urban and rural areas" (Central Bank of Nigeria (CBN), 2012a, b, p. 7). In the case of IMFBs, active poor or needy micro entrepreneurs should be the first priority for IMFBs (Ashraf and Hassan, 2013;Muhammad and Zakaullah, 2013). Thereafter, IMFBs can use Zakkah, Sadaqah and other channels such as Qard Al-hasan to help the dormant poor and needy (Ahmed, 2007).…”

Section: Structurementioning

confidence: 99%

“…IMFBs can obtain funds from these sources except the ones that are interest-based and from non-halal transactions. In addition to these sources of capital, Sadaqat, Zakkah and Waqaf are other sources of funds that would be accessible to sustain IMFBs and their clients by extending these funds as Qard hasan (benevolent loan) (Khaled, 2011Wilson, 2007Ahmed, 2007;Hassan et al, 2013;Abdul Rahman et al, 2013;Muhammad and Zakaullah, 2013;Ashraf and Hassan, 2013;Zouari and Nabi, 2013). Meanwhile, for the customers, IMFBs has a product which can attract investment account holders under the principle of Mudarabah (profit-sharing).…”

Section: Capacitiesmentioning

confidence: 99%

The role of moral transaction mode for sustainability of banking business

Aliyu

Yusof

Naiimi

2017

IJSE

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Purpose The purpose of this paper is to propose the use of Islamic moral transaction mode as a moderator in sustainable Islamic microfinance banks (IMFBs) business model. Design/methodology/approach The paper highlighted the major issues of microfinance banks in Nigeria and presented an integrated model that will suffice the long-term survival of the institution. Moreover, regression analysis is also employed to examine the impacts of financial outreach on the Nigerian economic growth. Findings The authors find that Islamic moral transaction mode will moderate the sustainable Islamic banking business which can influence the sustenance of IMFBs and the well-being of the society through financial outreach. Research limitations/implications The paper has empirically tested the impact of financial outreach on growth, and suggested future studies to investigate the existing relationships among the proposed model components. Therefore, further studies have the opportunity to develop measurements that will guide in testing the model, as well as strengthening its components. Practical implications Implementing this model will enhance the sustainability of IMFBs and socio-economic well-being of the society through financial outreach. Consequently, this study also suggests other policy measures that will improve the sustenance of IMFBs and the society as a whole. Originality/value The paper contributes to the existing literature of microfinance banks by linking the components of the sustainable business model to primary evidence of Sharia coupled with an in-depth link to generosity.

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An Integrated Islamic Poverty Alleviation Model

Cited by 15 publications

References 0 publications

Maqāṣid Al-Zakāh and Poverty Alleviation: A Case Study on the Western Cape Muslims

Maqāṣid Al-Zakāh and Poverty Alleviation: A Case Study on the Western Cape Muslims

FINANCING HEIs THROUGH WAQF FUND IN BANGLADESH: ISSUES AND POSSIBILITIES

The role of moral transaction mode for sustainability of banking business

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