Islamic Economic Institutions and the Elimination of Poverty

(Paperback, International)

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Description

This book highlights the Islamic approach towards poverty elimination. Articles included in the volume point out that Islamic institutions such as zakah (obligatory wealth tax), elimination of riba (interest), awqaf (endowments), takaful (insurance), and irfaq (charity) play an important role in reducing poverty levels and income distribution.

It features articles by many prominent scholars, including Mohammad Hashim Kamali (an authority on Islamic finance), Mohammad Daud Bakar (a member of Malaysias central bank), and Dr. Seif El-Din Ibrahim Tag El-Din (the 2015 winner of the IDB Islamic Economics Prize).

Author Bio

Munawar Iqbal: Munawar Iqbal is Chief of Research at the Islamic Banking and Finance Division of the Islamic Development Bank's Islamic Research and Training Institute, Jeddah, Saudi Arabia.