Alleviating Poverty by Prophet Mohammad’s (PBUH) Model Through Zakat Waqf and Islamic Microfinance – Short Communication
Author & Affiliation:
ATIF AZIZ
Research Scholar, Department of Management Sadhu Vaswani College Barkatullah University Bhopal (India)
B.D. PANDEY
Professor, Department of Management Sadhu Vaswani College, Barkatullah University Bhopal, India
Keyword:
zakat, , waqf, , Islamic interest freemicrofinance, , Prophet Mohammad (PBUH), , Baitul Maal.
Issue Date:
Issue 1
Abstract:
In the present paper, the author(s) have studied the Prophet Mohammad’s (PBUH) model of alleviating poverty from Madinah more than 1400 years ago. When the Prophet Mohammad’s (PBUH) migrated to Madinah with his companions from Makkah there was extreme poverty in Madinah. The Prophet’s companion from Makkah were extremely poor as they left all their belongings in Makkah, The Prophet Mohammad’s (PBUH) implemented his model at micro level i.e. at individual level and macro level i.e. at community level for alleviating poverty. He used personalized help, waqf, zakat, Islamic interest free microfinance and Baitul Maal (public treasury of Islamic State) for alleviating poverty and was tremendously successful in it. The prophet (PBUH) was able to educate, impart training to poorest for their livelihood and was able in poverty alleviation by increasing standard of living of each and every individual through financial inclusion.
Pages:
1-3
ISSN:
2581-5687 (Online) - -- (Print)
Source:
DOI:
ajusem
Copy the following to cite this article:
A. Aziz; B. Pandey , "Alleviating Poverty by Prophet Mohammad’s (PBUH) Model Through Zakat Waqf and Islamic Microfinance – Short Communication", Ansari Journal of Ultra Scientist of Engineering and Management, Volume 5, Issue 1, Page Number 1-3, 2021Copy the following to cite this URL:
A. Aziz; B. Pandey , "Alleviating Poverty by Prophet Mohammad’s (PBUH) Model Through Zakat Waqf and Islamic Microfinance – Short Communication", Ansari Journal of Ultra Scientist of Engineering and Management, Volume 5, Issue 1, Page Number 1-3, 2021Available from: http://www.enggandmgtjournal.org/paper/22/