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Consumption with Shariah Based Imprint: Eradicating Extreme Poverty and Hunger with Infaq, Waqf and Rushd Behavior in Pakistan

Author

Listed:
  • Zohra Jabeen

    (Assistant Professor, Institute of Management Sciences, Peshawar, KP, Pakistan.)

  • Romana Bangash

    (Assistant Professor, Institute of Management Sciences, Peshawar, KP, Pakistan.)

  • Faizan Malik

    (Assistant Professor, Department of Management Sciences, Abdul Wali Khan University, Mardan, KP, Pakistan.)

Abstract

This is a conceptual paper regarding consumption for policy implications based on the teachings of Islam. It awakens Islamic civil society for bringing about a correction and balance in the society whereby extreme poverty is eradicated through a consumption (and spending “infaaq†) approach in the light of (understanding the concepts of) Rushd, waqf and infaq fi sabeelillah for sharing rizq and setting aside rizq and resources for others. According to the Islamic principles, zakat and infaq fi sabeelillah are encouraged to deal with the disparities of wealth in general and to strike at poverty in particular. The rightly guided people (raashidoon) are encouraged to worship Allah as well as give to the poor. It is in contrast to consumerism of the western capitalistic schools of thought. In economic guidelines using the consumption theories, the concepts of Rushd, waqf and infaaq need to be incorporated in policy implication in the Muslim world.

Suggested Citation

  • Zohra Jabeen & Romana Bangash & Faizan Malik, 2017. "Consumption with Shariah Based Imprint: Eradicating Extreme Poverty and Hunger with Infaq, Waqf and Rushd Behavior in Pakistan," Global Regional Review, Humanity Only, vol. 2(1), pages 166-176, June.
    • Handle: RePEc:aaw:grrjrn:v:2:y:2017:i:1:p:166-176
    DOI: 10.31703/grr.2017(II-I).12
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    References listed on IDEAS

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    1. Bowles,Samuel, 2012. "The New Economics of Inequality and Redistribution," Cambridge Books, Cambridge University Press, number 9781107014039, January.
    2. Bowles,Samuel, 2012. "The New Economics of Inequality and Redistribution," Cambridge Books, Cambridge University Press, number 9781107601604, January.
    3. M. Fahim Khan, 2013. "Theorizing Islamic Economics: Search for a Framework for Islamic Economic Analysis التنظير للاقتصاد الإسلامي: البحث عن إطار للتحليل الاقتصادي الإسلامي," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 26(1), pages 203-263, January.
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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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