Poverty Alleviation Through Zakah and Waqf Institutions Essay

* Islam emphasize on the importance of suffusive justice through Zakah, waqf * The main objectives of Zakah argon to promote stable economic harvest-home through investments, employment and balance consumption, and the exploit of greater income equality through an equitable distribution of wealth, thereby eliminating poverty and fundamental disparities of wealth between the rich and the poor. * Waqf is retention a Maal (an asset) and preventing its consumption for the purpose of repeatedly extracting its usufruct for the benefit of an objective representing righteousness and/or philanthropy for as long as its principal is preserved either by its own nature as in land or from arrangements and conditions prescribed by the Waqf founder. * In the past, the state would assign Zakah workers.* The setoff know Waqf is the mosque of Qubaa in Madinah, which was built upon the arriver of the Prophet (Peace and blessing of Allah be upon him) followed by the purchase of the land and con struction of the mosque, known today as the Prophets mosque. * There are three types of Waqf, religious Waqf, philanthropic Waqf, and posterity or family Waqf. * phantasmal Waqf adds to the social welfare of the community because it helps gather the religious needs of multitude and reduces the postulate cost of providing religious services for every future generation.* Philanthropic Waqf aimed at supporting the poor segment of the community and all activities that are of interest to people at large such as public utilities, libraries, scientific research, education, health services, tutorship of animals and environment, lending to small businessmen, parks, roads, bridges, dams, etc. * Posterity or family Waqf is argued that it is charitable in essence because it gives income/usufruct to persons turn of charges and improves the welfare of future generation.