Philanthrophy in Islam: A promise to Welfare Economics System

Abdul Ghafar Ismail (), Muhammad Hasbi Zaenal () and Hakimi Shafiai
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Muhammad Hasbi Zaenal: Universiti Kebangsaan Malaysia
Hakimi Shafiai: Universiti Kebangsaan Malaysia

No 1435-3, Working Papers from The Islamic Research and Teaching Institute (IRTI)

Abstract: Islamic presence is intended to meet all the demands of life (shumūl al-hayāh). In the economic sphere, Islam set rules comprehensively about the relationship between religion and economy, both should go hand in hand, such as philanthropy actions. Since the early days, philanthropy has become the basic Islamic economy, where philanthropy which means "love of people" had been successfully practiced by the Prophet and the companions accompanied by moral motivation to achieve the glory of Islam, social justice and remove economic oppression. Philanthropy in Islam has been based on a clear legal, either from the al-Qur'an also al-Hadith. However, the current discussion on the economics of philanthropy is very much clouded by conventional view which argues that the form of charitable gifts are motivated by government tax policy. Our view which is derived from Islamic law theory may deviate from such view in the sense that the motives, causes and influences of philanthropic behaviour are different. Therefore, this study this study will explore the economics of philanthropy which is adapted from the Islamic law. The end result, it might us to readjust the impact of philanthropic behavior on inter-generational transfers and the provisions of public and private goods.

Keywords: philanthropy; altruism; welfare programs; economics of philanthropy; government policy (search for similar items in EconPapers)
JEL-codes: D31 D63 D64 H55 M14 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2015-01-19
New Economics Papers: this item is included in nep-hme and nep-hpe
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Citations: View citations in EconPapers (1)

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