Islamic Economic Institutions and the Elimination of Poverty

This book presents both theoretical and empirical evidence to highlight the role of Islamic institutional arrangements in poverty elimination. This book highlights the Islamic approach towards poverty elimination. Articles included in the volume point out that Islamic institutions such as zakah (obligatory wealth tax), elimination of riba (interest), awqaf (endowments), takaful (insurance), and irfaq (charity) play an important role in reducing poverty levels and income distribution.It features articles by many prominent scholars, including Mohammad Hashim Kamali (an authority on Islamic finance), Mohammad Daud Bakar (a member of Malaysia’s central bank), and Dr. Seif El-Din Ibrahim Tag El-Din (the 2015 winner of the IDB Islamic Economics Prize).

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