Integration of Islamic Philanthropic Economic Services for Alleviation of Poverity: the Case of Affordable Housing

Sadr, Seyed Kazem; Alhabshi, Syed Othman; Abdel Mosin, Magda Ismail; Abdul Razak, Shaikh  Hamzah

doi:10.29252/jep.1.2.55

Integration of Islamic Philanthropic Economic Services for Alleviation of Poverity: the Case of Affordable Housing

Document Type : Original Article

Authors

Seyed Kazem Sadr ¹

Syed Othman Alhabshi ²

Magda Ismail Abdel Mosin ²

Shaikh Hamzah Abdul Razak ²

¹ Faculty of Economics and Political Sciences, Shahid Beheshti University, Tehran, Iran

² International Centre for Education in Islamic Finance, Malaysia

10.29252/jep.1.2.55

Abstract

This paper argues that the goal of poverty alleviation and a decent standard of living is not attainable in Muslim communities unless the economic and social services of the Islamic philanthropic institutes are integrated and a full-fledged collaboration would be resumed among the managing boards. The first part of the paper will examine why Muslims participate in altruistic giving and what are the alternative forms of contributions that are provided by Shariah of Islam. The second part will review the potential and actual contributions of the said Islamic benevolent giving for poverty eradication and well-being of low and vulnerable income families. The third and concluding part will discuss the conditions, methods and mechanism for integration and coordination among Islamic philanthropic institutes for provision of affordable housing.

Keywords

Islamic philanthropic institutes

Micro finance

Affordable housing

Waqf

Qard hasan

20.1001.1.27171485.2020.1.2.4.9

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