Historical Role of Islamic Waqf in Poverty Reduction in Muslim Society

Muhammad Tariq Khan

Abstract


Since the emergence of known civilisation poverty is a major
challenge and in the present era, it is a wide spread world problem
specifically afflicting the developing countries and also is a breeding
ground for terrorism and conflicts between nations [Shirazi and Khan
(2009)]. Poverty problem, with issues, of defining poverty, determining
who is poor and where to draw the poverty line has been at the forefront
of national and international policy-making forums, and a topic of
heated debates among economists and policy makers [Khan (2007)].
Increasing per capita income along with equal distribution of wealth
leading to better standard of life (with better facilities and
opportunities of: food, health, clothing, housing, drinking water,
income and employment, and social and cultural life) is pertinent way to
reduce poverty. Islam encourages with stress on working hard and
investment for earning the livelihood. For extremely poor who have no
means to meet basic needs, no sources to invest, and no opportunity to
earn, Islam suggested voluntary and compulsory endowments [Zakat, waqf,
sadqa] for catering the needs of different degrees of poor from
destitute to less poor, and also causing, circulation of wealth leading
to it equal distribution, which is also another way to reduce
poverty.

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DOI: https://doi.org/10.30541/v54i4I-IIpp.979-996

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