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Poverty alleviation in Nigeria: The role of Islamic social finance instruments in the redistribution of wealth

Nigeria is a West African country with abundant resources and natural resources. A member of the Organization of The Petroleum Exporting Countries (OPEC). According to the World Bank statistics, Nigeria’s poverty rate is alarming as it is ranked next after India. Despite the numerous natural reso...

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Main Author: Busari, Saheed Abdullahi
Format: Conference or Workshop Item
Language:English
Published: 2021
Subjects:
BPH104 Islam and poverty
BPH741 Waqf
Online Access:http://irep.iium.edu.my/92838/1/4.%20ICiFIL%202021%20Abstract%20Book.pdf
http://irep.iium.edu.my/92838/
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spelling my.iium.irep.928382021-10-07T07:08:42Z http://irep.iium.edu.my/92838/ Poverty alleviation in Nigeria: The role of Islamic social finance instruments in the redistribution of wealth Busari, Saheed Abdullahi BPH104 Islam and poverty BPH741 Waqf Nigeria is a West African country with abundant resources and natural resources. A member of the Organization of The Petroleum Exporting Countries (OPEC). According to the World Bank statistics, Nigeria’s poverty rate is alarming as it is ranked next after India. Despite the numerous natural resources in Nigeria, poor economic management and governance are considered the factors responsible for the current standard of living in the country. This paper aims to examine the potential opportunities and challenges in employing the Islamic social instrument (Zakat, Waqf & Sukuk) in wealth distribution to alleviate poverty in Nigeria. This research will use secondary data obtained through a library search to explicate the challenges of redistribution wealth in Nigeria and the role of Islamic social financing in the eradication of poverty. It will adopt a descriptive analysis approach to the roles and potential contributions of the existing Islamic social finance platforms towards sustainable redistribution of wealth in Nigeria. The study proposed to explicate the socio-economic potentials in Nigeria's multi-ethnic, cultural, and religious society. It will show how the public and private institutions can explore the opportunities and address the challenges of redistribution of wealth and eradicating poverty through Islamic social financing (Zakat, Waqf & Sukuk) in Nigeria. This paper focuses on how the redistribution of wealth through Islamic social finance instruments (Zakat, Waqf & Sukuk) can enhance poverty alleviation in Nigeria. This paper is novel in its approach to unveiling data about the potential contributions of the Islamic social finance institutions in Nigeria towards redistribution of wealth and eradicating poverty. 2021-07-07 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/92838/1/4.%20ICiFIL%202021%20Abstract%20Book.pdf Busari, Saheed Abdullahi (2021) Poverty alleviation in Nigeria: The role of Islamic social finance instruments in the redistribution of wealth. In: International Conference on Islamic Financial Literacy, 7-8 July, IIUM Gombak Campus. (In Press)
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic BPH104 Islam and poverty
BPH741 Waqf
spellingShingle BPH104 Islam and poverty
BPH741 Waqf
Busari, Saheed Abdullahi
Poverty alleviation in Nigeria: The role of Islamic social finance instruments in the redistribution of wealth
description Nigeria is a West African country with abundant resources and natural resources. A member of the Organization of The Petroleum Exporting Countries (OPEC). According to the World Bank statistics, Nigeria’s poverty rate is alarming as it is ranked next after India. Despite the numerous natural resources in Nigeria, poor economic management and governance are considered the factors responsible for the current standard of living in the country. This paper aims to examine the potential opportunities and challenges in employing the Islamic social instrument (Zakat, Waqf & Sukuk) in wealth distribution to alleviate poverty in Nigeria. This research will use secondary data obtained through a library search to explicate the challenges of redistribution wealth in Nigeria and the role of Islamic social financing in the eradication of poverty. It will adopt a descriptive analysis approach to the roles and potential contributions of the existing Islamic social finance platforms towards sustainable redistribution of wealth in Nigeria. The study proposed to explicate the socio-economic potentials in Nigeria's multi-ethnic, cultural, and religious society. It will show how the public and private institutions can explore the opportunities and address the challenges of redistribution of wealth and eradicating poverty through Islamic social financing (Zakat, Waqf & Sukuk) in Nigeria. This paper focuses on how the redistribution of wealth through Islamic social finance instruments (Zakat, Waqf & Sukuk) can enhance poverty alleviation in Nigeria. This paper is novel in its approach to unveiling data about the potential contributions of the Islamic social finance institutions in Nigeria towards redistribution of wealth and eradicating poverty.
format Conference or Workshop Item
author Busari, Saheed Abdullahi
author_facet Busari, Saheed Abdullahi
author_sort Busari, Saheed Abdullahi
title Poverty alleviation in Nigeria: The role of Islamic social finance instruments in the redistribution of wealth
title_short Poverty alleviation in Nigeria: The role of Islamic social finance instruments in the redistribution of wealth
title_full Poverty alleviation in Nigeria: The role of Islamic social finance instruments in the redistribution of wealth
title_fullStr Poverty alleviation in Nigeria: The role of Islamic social finance instruments in the redistribution of wealth
title_full_unstemmed Poverty alleviation in Nigeria: The role of Islamic social finance instruments in the redistribution of wealth
title_sort poverty alleviation in nigeria: the role of islamic social finance instruments in the redistribution of wealth
publishDate 2021
url http://irep.iium.edu.my/92838/1/4.%20ICiFIL%202021%20Abstract%20Book.pdf
http://irep.iium.edu.my/92838/
_version_ 1713199565267533824
score 13.211869

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