 How Islamic Ethical Wealth May Strategically and Technically Support “Reduced Inequality” Mission?Irfan Syauqi Beik (),
Mohd Hasbi Zaenal and
Abdul Aziz Yahya Saoqi
Chapter Chapter 18 in Islamic Wealth and the SDGs, 2021, pp 359-372 from Springer Abstract: Abstract Inequality in economic and social aspects is a severe problem faced by governments of various countries. According to the data from the World Bank, the average inequality ratio in the world reaches 0.38, which indicates that there are 38 out of 100 people whose income or wealth is below average. This paper aims to investigate the Islamic ethical wealth in the management perspective and how it may technically and strategically contribute to eradicating social and economic inequality. It also analyzes contribution of major Islamic wealth distribution instrument, which especially is represented by zakat and waqf, in eliminating inequality. The presence of zakat distribution program as well as utilization of both social and commercial waqf assets is found to increase productivity of the poor so that they can meet their basic needs. The paper also elaborates the model of waqf asset corporatization that can provide greater benefit to the society who are in need. Keywords: Inequality; Islamic ethical wealth; Islamic wealth management; Zakat; Waqf (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-65313-2_18 Ordering information: This item can be ordered from DOI: 10.1007/978-3-030-65313-2_18 Access Statistics for this chapter More chapters in Springer Books from Springer |
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