The Role of Islamic Economic System in Tackling Poverty in a Society

International Journal of Research and Innovation in Social Science (IJRISS) | Volume III, Issue III, March 2019 | ISSN 2454–6186

The Role of Islamic Economic System in Tackling Poverty in a Society

Aminu Yakubu¹, Dahiru Usman^2
1Adamawa State Polytechnic Yola College of Continuing Education Islamic Studies Department,
Centre for Islamic Development Management Studies (ISDE), University Science Malaysia
²Department Arabic Medium, Federal College of Education, Yola, Nigeria

Abstract: – Poverty is regarded as a weapon of mass destruction in a society. It is also a major causes of social, Religious and political conflicts. It is pertinent to note that the conventional western base economic system has failed and the world is moving forward looking out for a strong and reliable system that will stand the taste of time. The west over a decade ago has suffered a lot on the issue of financial meltdown which resulted into objected poverty. This therefore is what prompted the research to examine the role of Islamic system in alleviating poverty in the society. The study use contest analysis in analysing the data and the corpuses is the Qur’an and Hadith of the prophet (S.A.W). The also find out that the existed economy system totally failed and there is need for remedy.

Keywords: Role, Islamic, Economic, Tackling, Poverty, Society

I. INTRODUCTION

The term poverty is a universal word that affects significant parts of the world population in some quotas, poverty is being regarded as a weapon of mass destruction. The united nation describes the poor as those who live on less than a dollar per day. The poor people live below poverty line. Poverty in many countries of the world is the major causes of social, political and unrest.
The various modern economic systems practice in the west which is being borrowed by the Far East, the Middle East and African seems to have no solution to the problems of poverty. It is no longer a news the establishment of Islamic banking. In the west where there are few Muslims. The Islamic economic system is aimed at poverty reduction and improving the quality of life and equity in the society. There is the need to understand more of the roles of Islamic economic system in tackling the nagging poverty in the world, at the time when all other economic system failed in that direction. This is what prompted me to go for the study.

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