Integrating Zakah, Awqaf and Islamic microfinance for poverty alleviation : three models of Islamic micro finance
Author
Source
Islamic Research and Training Institute
Issue
Vol. 2013, Issue 1-4, 6-20 (31 Dec. 2013), pp.1-18, 18 p.
Publisher
Islamic Development Bank (IDB) Islamic Research and Training Institute (IRTI)
Publication Date
2013-12-31
Country of Publication
Saudi Arabia
No. of Pages
18
Main Subjects
Economy and Commerce
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
- Banks
- Islamic jurisprudence
- Islam
- Poverty
- Poverty mitigation
- Financing
- Microfinance
- Alms tax
- Economic aspects
- Religious aspects
- Banking
- Waqf
Abstract EN
The objective of this paper is to present theoretical proposals for institutional structure in the context of Islamic Microfinance by first comparing Conventional and Islamic microfinance institutions and then by highlighting some of the pioneering work of conventional microfinance models that paved the way for Islamic Microfinance.
In this paper, we review the literature of microfinance models that simultaneously deals with several facets of poverty by combining Waqf and Zakah principles together or individually.
There are three models examined in this paper i.e Waqf-Based Islamic Microfinance Institutions, a Model of Zakah and Awqaf-based MF Organizations and an Integrated Awqaf and Zakah Model of Microfinance.
Both Zakah and Waqf mechanisms are considered for Islamic microfinance not only because of their frameworks that are in accordance to the Shariah but they are the original concepts provided in Islam that serve people in need i.e the poor.
In tandem with the doctrine of microfinance, Zakah and Waqf are seen as tools best suited to assist the poor who require financing and ultimately could be effective for poverty reduction.
The paper derives recommendation for integrating microfinance models into the overall economic policy.
American Psychological Association (APA)
Ali, Khalifah Muhammad. 2013. Integrating Zakah, Awqaf and Islamic microfinance for poverty alleviation : three models of Islamic micro finance. Islamic Research and Training Institute،Vol. 2013, no. 1-4, 6-20, pp.1-18.
https://search.emarefa.net/detail/BIM-600978
Modern Language Association (MLA)
Ali, Khalifah Muhammad. Integrating Zakah, Awqaf and Islamic microfinance for poverty alleviation : three models of Islamic micro finance. Islamic Research and Training Institute No. 1-4, 6-20 (2013), pp.1-18.
https://search.emarefa.net/detail/BIM-600978
American Medical Association (AMA)
Ali, Khalifah Muhammad. Integrating Zakah, Awqaf and Islamic microfinance for poverty alleviation : three models of Islamic micro finance. Islamic Research and Training Institute. 2013. Vol. 2013, no. 1-4, 6-20, pp.1-18.
https://search.emarefa.net/detail/BIM-600978
Data Type
Journal Articles
Language
English
Record ID
BIM-600978