Islamic approach for solution of poverty: An analysis

Abstract

The biggest problem facing humanity now is the alleviation of poverty. Currently, nearly 1 billion people worldwide live in absolute poverty. To liberate men, women, and children from the degrading circumstances of extreme poverty, the Millennium Development Goals have been acknowledged as the foundation for action. However, traditional methods fall well short of eliminating poverty in society. According to the fundamental sources of Islam, Islam opposes poverty and offers a framework that is favorable to its alleviation. Three major categories of poverty reduction strategies have been examined in this research. The first is the land-related positive measures. The second is the financial beneficial measures. Preventive action comes in third. The objectives of the Islamic system are: Individual freedom within the framework of societal well-being; universal brotherhood and fairness; equitable income distribution; and economic prosperity within the framework of Islamic moral standards. The issue of poverty may be significantly resolved if these actions are implemented following the objectives.

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