Role of Islamic Finance (Zakah) to Eradicate Extreme Poverty in Bangladesh
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Date
2015-12-25
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Abstract
The aim of the study is to find out the role of Zakat as tools of Islamic Finance to
eradicate extreme poverty through the empirical study in Bangladesh. The study also
analyzes the model of Zakat collection and distribution to eradicate poverty. The
hearts of wealthy people are purified from greed through giving Zakat to the needy
and the needy people are then able to fulfil their needs. Thus, Zakat should be able to
reduce the gap between the rich and the poor .Each year, the Rich people of
Bangladesh provide Zakat. The Zakat fund is not collected and distributed properly in
most of the cases. The important recommendations of this paper are the best ways to
collect zakat from different sectors, organizations, Institutions as well as individuals
and also to distribute in a systematic way to alleviate poverty from Bangladesh.
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Keywords
Islamic Finance, Role of Islamic Finance, Zakah, Poverty in Bangladesh, Eradicate Extreme Poverty
Citation
Proceedings of 13th Asian Business Research Conference