Banking
May 07, 2021
Ramadan2021: The Role of Zakat in Poverty Alleviation

According to the World Bank Organization, Nigeria poverty rate is project to increase from 40.1% in 2019 to 42.9% in 2022, implying that 95.7 million Nigerians will be living below the poverty line by 2022.     

 

In combating poverty in Nigeria, Zakat one of the five pillars of Islam has been described as a veritable tool for deepening financial inclusion and achieving economic empowerment in Nigeria.

 

This edition of the Islamic Finance Weekly anchored by Bukola Akinyele-Yisau features the Deputy Director, Training and Linkages of the International Institute of Islamic Banking and Finance, Bayero University Kano, Dr. Aliyu Dahiru.

 

Zakat is an obligatory payment for Muslims based on income and the value of possessions. The common minimum amount for those who qualify is 2.5% of a Muslim's total savings and wealth.

 

He said Zakat facilitates the transfer of wealth from the rich to the poor people. It is the third pillar of Islam and to have a sound economy it must be collected and distributed accordingly. 

 

In terms of benefits,  Zakat establishes good human relationship among people, and ensures wealth circulation in the society.  He believed that any society that gives Zakat to the poor will experience reduction in poverty.

 

Watch Video Courtesy WebTV NG

 

Proshare Nigeria Pvt. Ltd.


Related Videos

1.         The Business of Ramadan- Halal Income and Its Impact

2.        Nigeria's Islamic Societies can Support the Growth of Islamic Finance

3.        Why It Is Important For Women To Participate In Halal Trade - Sayarun Nessa

4.        Women Need More Awareness On The Opportunities in Ethical Business - Dr. Shukurat Bello

5.        Islamic Finance: The Value Of A Green Sukuk To Nigeria's Sustainable Development

6.        Why Islamic Finance Education Needs A Pragmatic Approach In Nigeria


Proshare Nigeria Pvt. Ltd.


Related News

1.          Ways Nigeria's Islamic Societies Can Support the Growth of the Non-Interest Finance Market

2.         How Women Participation Could Deepen Halal Trade in Nigeria - Sayarun Nessa

3.         Sayarun Nessa to Speak on Women in Trade and Commerce

4.         Is Nigeria's Islamic Banking System Ready for the Fintech Era?

5.          Improving Opportunities for Women In Business and Ethical Finance In Nigeria

6.         Dr. Shukurat Bello To Speak on Women in Business and Ethical Finance

7.          Nigeria's Next Sukuk Issuance Should Be Green-Based - Dr Umar Idris

8.         Dr. Umar Idris to Speak on Sukuk And Nigeria's Economic Development

June 11, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 452 VIEWS
June 04, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 998 VIEWS
May 28, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 991 VIEWS
May 21, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 933 VIEWS
May 14, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 1158 VIEWS
May 07, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 1171 VIEWS
April 30, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 1055 VIEWS
April 29, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 1460 VIEWS
April 23, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 1227 VIEWS
April 16, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 1343 VIEWS
April 13, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 931 VIEWS
April 09, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 1150 VIEWS
April 02, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 1452 VIEWS
March 26, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 1616 VIEWS
March 19, 2021
Proshare Video
Proshare - Facebook Proshare - Twitter 1573 VIEWS
Latest News
June 13, 2021
June 13, 2021
June 13, 2021
GALLERY
June 10, 2021
Proshare Video
Album: NIGERIAN-BRITISH CHAMBER OF COMMERCE BUSINESS ADVOCACY ROUNDTABLE THEMED "AFCFTA: WILL THE AGREEMENT REVOLUTIONIZE THE NIGERIAN ECONOMY?"
SCROLL TO TOP