Economic Empowerment, Zakat, Waqf, and Social Infrastructure

Amadou Thierno Diallo () and Ahmet Suayb Gundogdu ()
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Amadou Thierno Diallo: Islamic Development Bank
Ahmet Suayb Gundogdu: Islamic Development Bank

Chapter 5 in Sustainable Development and Infrastructure, 2021, pp 77-93 from Palgrave Macmillan

Abstract: Abstract This chapter clarifies the differing roles of Zakat and Waqf in poverty alleviation, hunger, and inequality. An ideal social safety net is attainable by focusing on poverty, giving special attention to economic empowerment programs. Zakat should play a supporting role in abating hunger for people in the transition while counterbalancing inequalities created by market imperfections. Since Zakat funds cannot be used for social infrastructure development, traditional Waqf should fill the bill. Contemporary forms of cash Waqf and corporate Waqf are essential in mobilizing resources for social infrastructure development.

Keywords: Infaq; Sadaqa; Zakat; Waqf; Cash Waqf; Corporate Waqf; Islamic microfinance; Economic empowerment (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psibcp:978-3-030-67094-8_5

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DOI: 10.1007/978-3-030-67094-8_5

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