Journal of Behavioural Economics, Finance, Entrepreneurship, Accounting and Transport
ISSN (Print): 2376-1326 ISSN (Online): 2376-1334 Website: Editor-in-chief: Pr. Abdelfatteh Bouri
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Journal of Behavioural Economics, Finance, Entrepreneurship, Accounting and Transport. 2015, 3(1), 1-11
DOI: 10.12691/jbe-3-1-1
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Islamic Finance A Support to Development and Economic Growth: the Principle of Zakat as an Example

Saïda Daly1, and Mohamed Frikha1

1Faculty of Economics and Management of Sfax, Laboratory URECA, University of Sfax, Street of airport, km 4.5, LP 1088, Sfax 3018, Tunisia

Pub. Date: January 20, 2015

Cite this paper:
Saïda Daly and Mohamed Frikha. Islamic Finance A Support to Development and Economic Growth: the Principle of Zakat as an Example. Journal of Behavioural Economics, Finance, Entrepreneurship, Accounting and Transport. 2015; 3(1):1-11. doi: 10.12691/jbe-3-1-1


“Zakat”, the third pillar of Islam, is central in Islamic economic. It is a work of cult financial, purifies the soul and increases its merits, as it purifies the property and increases the wealth. It means etymologically, grow, propose, and be fair and clean. It reduces the gap between rich and poor. The importance of “Zakat” is revealed by the number of Qur'anic verses that advocate the necessity of Zakat and its role as a tool to ensure the socio-economic stability and ensure stabilization the phases of economic cycle. Our purpose, in this study is to present a brief summary related to Islamic finance and bank. We seek to provide some generalities about Zakat such as their main characteristics. In addition, this paper aims at adding to reliable solutions of the menace of poverty in the Muslim community that buttress the payment of Zakah on employment, and on investment. The paper is purely a descriptive research that explores the socio-economic benefits of Zakat and its roles in the economic cycle. In view of this, the paper recommends to those in authority to take a juristic stance on the matter and generate Zakat funds from employment and professional income as well as ensure proper disbursement of the funds to the target group in order to curb the poverty situations. It advocates also the benefits of Zakat in the economic cycle via a comparison of the two contexts (economic cycle with Zakat and economic cycle without Zakat).

Economic cycle Islamic Economic Islamic Finance principles products Zakat

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