Year 2016, Volume 2, Issue 1, Pages 1 - 25 2016-03-01

Through Islamic Banks’ Zakat House (IBZH): Investment of Zakah Funds in Microfinance to Remove Poverty in Bangladesh: A New Model

Ahm Ershad UDDIN [1]

135 1198

One of Zakat’s main objectives is to help eliminate poverty and famine. And in Shari’ah, the obligation of zakat payment is elaborated which if not maintained holds severe consequences. Zakat has its unique features of supporting the poor in providing a collateral free financial stability. The main socioeconomic factors in all the developing Muslim countries are poverty, unemployment and economic inequality which results in not meeting the basic needs of the poor. In a country like Bangladesh consisting of Muslim Majority, although governmental and nongovernmental institutions collect and distribute zakat yet the ultimate goal of zakat is not attained completely. At present, modern Islamic jurists reinforce the notion of microfinance investment through the collection and usage of zakat money. This paper consists of a static ground for the poverty removal creating a financial institution which is equally responsible as those present in Bangladesh but with a different route in eliminating poverty where schemes can be initiated along with opening opportunities of employment. Finally, it also surfaces the model in investment of zakat fund through IBZH with opinions of Islamic jurists. This Islamic Banks Zakah House (IBZH) is an amalgamated forum of the present eight established private Islamic banks of Bangladesh
Islamic Banks’ Zakat House (IBZH), Microfinance, Bangladesh
Other ID JA34RK56ZH
Journal Section Articles
Authors

Author: Ahm Ershad UDDIN

Bibtex @ { ijisef313838, journal = {International Journal of Islamic Economics and Finance Studies}, issn = {2149-8393}, eissn = {2149-8407}, address = {Politik Ekonomik ve Sosyal Araştırmalar Merkezi}, year = {2016}, volume = {2}, pages = {1 - 25}, doi = {}, title = {Through Islamic Banks’ Zakat House (IBZH): Investment of Zakah Funds in Microfinance to Remove Poverty in Bangladesh: A New Model}, key = {cite}, author = {UDDIN, Ahm Ershad} }
APA UDDIN, A . (2016). Through Islamic Banks’ Zakat House (IBZH): Investment of Zakah Funds in Microfinance to Remove Poverty in Bangladesh: A New Model. International Journal of Islamic Economics and Finance Studies, 2 (1), 1-25. Retrieved from http://dergipark.org.tr/ijisef/issue/29331/313838
MLA UDDIN, A . "Through Islamic Banks’ Zakat House (IBZH): Investment of Zakah Funds in Microfinance to Remove Poverty in Bangladesh: A New Model". International Journal of Islamic Economics and Finance Studies 2 (2016): 1-25 <http://dergipark.org.tr/ijisef/issue/29331/313838>
Chicago UDDIN, A . "Through Islamic Banks’ Zakat House (IBZH): Investment of Zakah Funds in Microfinance to Remove Poverty in Bangladesh: A New Model". International Journal of Islamic Economics and Finance Studies 2 (2016): 1-25
RIS TY - JOUR T1 - Through Islamic Banks’ Zakat House (IBZH): Investment of Zakah Funds in Microfinance to Remove Poverty in Bangladesh: A New Model AU - Ahm Ershad UDDIN Y1 - 2016 PY - 2016 N1 - DO - T2 - International Journal of Islamic Economics and Finance Studies JF - Journal JO - JOR SP - 1 EP - 25 VL - 2 IS - 1 SN - 2149-8393-2149-8407 M3 - UR - Y2 - 2019 ER -
EndNote %0 International Journal of Islamic Economics and Finance Studies Through Islamic Banks’ Zakat House (IBZH): Investment of Zakah Funds in Microfinance to Remove Poverty in Bangladesh: A New Model %A Ahm Ershad UDDIN %T Through Islamic Banks’ Zakat House (IBZH): Investment of Zakah Funds in Microfinance to Remove Poverty in Bangladesh: A New Model %D 2016 %J International Journal of Islamic Economics and Finance Studies %P 2149-8393-2149-8407 %V 2 %N 1 %R %U
ISNAD UDDIN, Ahm Ershad . "Through Islamic Banks’ Zakat House (IBZH): Investment of Zakah Funds in Microfinance to Remove Poverty in Bangladesh: A New Model". International Journal of Islamic Economics and Finance Studies 2 / 1 (March 2016): 1-25.