Article Abstract

	Title:	Zakat fund – concept and perspective
	Author:	Moid U. Ahmad, Athar Mahmood
	Address:	Finance Area, Jaipuria Institute of Management, A-32A, Sector 62, Noida 201301, India. ' Human Resource Management area, Jaipuria Institute of Management, Gomti Nagar, Lucknow 226001, India
	Journal:	International Journal of Monetary Economics and Finance 2009 - Vol. 2, No.3/4  pp. 197 - 205
	Abstract:	Islam, the Holy Quran and the Hadith lays great emphasis on Zakah (Zakat) as a social tool to bridge the differences between the rich Muslims and poor Muslims. This research paper underlines the importance of Zakah as a tool for poverty alleviation. It discusses the fundamental concept of Zakah, its calculation methodology and how it is levied. The paper suggests a novel concept of the Zakah Fund, which can be implemented as a tool of poverty alleviation. Also, the paper tries to analyse the viability of the concept by conducting a relevant survey, the conclusions from which can be used to enhance the understanding of the concept and its utility.
	Keywords:	development economics; Zakat; Islamic finance; Zakah Fund; poverty alleviation.
	DOI:	10.1504/IJMEF.2009.029058
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