Role of Zakat and Waqf (Endowment) in Poverty Alleviation: A Solution to Insecurity and Challenges

Abstract

In this paper the role of Zakat and Waqf will be critically examine to see how these two institutions will help in solving the issue of poverty, hunger, illiteracy and crimes among others that cause insecurity in the society and particularly in Africa. To achieve the objectives, literatures dealing with Zakat and Waqf were scrutinized and discussed. It is realized that Zakat and Waqf as forms of charity in Islam with set rules and regulations which could help in eradicating and alleviating of poverty, hunger, illiteracy, crime, diseases among other socio- economic problems that causes insecurity in the states and nations. Meaning of the institutions were explained and discussed in the paper similarly poverty as a concept is also explained. Over the years, poverty alleviation programmes and policies have evolved by government. The present Nigerian government evolved different forms of poverty alleviation programmes to promote the economic wellbeing and living standard of its people such as the social welfare investment scheme, the trader money or market women loan, home grown feeding and many others. Islam has provided some unique instrument in form of Zakat and Waqf for the alleviation of poverty fighting insecurity among people.

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