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International Journal of Academic Research in Business and Social Sciences

Open Access Journal

ISSN: 2222-6990

The Financial Resources in Islam and their Role in Achieving Economic Security: Zakat Obligation as a Model

Mohamed Hamed Mohamed Said, Mohamed Rady Mohamed Elpaz Elsheakh, Anwar Mahmoud Al-Morsi Khattab

http://dx.doi.org/10.6007/IJARBSS/v14-i3/21132

Open access

One of the matters endorsed by Islam is that whoever possesses power also possesses influence, and whoever holds power, his word carries weight and his internal and external strength is enhanced. The aim of this research is to study economic resources from the perspective of the desired outcome, namely achieving economic security for all people. Additionally, it addresses the contemporary need of the nation for such studies to benefit from them in practical and scientific life, indicating the depth and penetration of Islam into all aspects of life. Likewise, the statement that the obligation of Zakat has its positive role in achieving economic security, and the problem of the research lies in the fact that the obligation of Zakat, as one of the financial resources of the state, is not sufficient to meet the needs of the poor. Therefore, Islam is incapable of achieving economic security in the world. This is a problem in the understanding of some regarding the obligation of Zakat, and this is what will be addressed in the context of the research pages. The research methodology relies on analytical deduction, involving the derivation and analysis of the Zakat obligation and how it contributes to economic security. The research plan is based on two sections: the Quranic and Sunnah teachings regarding the obligation of Zakat, and how to achieve economic security through the resource of Zakat. The study will contribute to elucidating how to invest Zakat funds to meet the needs of the poor and needy while achieving economic security for the entire world. Previous studies have been conducted, including doctoral and master's theses, practical research, and books on the obligation of Zakat and how to achieve economic security through it, and the library is full of them.
The research concludes that Zakat plays a vital role in economic development and societal construction in countries, redistributing income among its individuals and eliminating class distinctions among the nation's people. Furthermore, Zakat is an Islamic obligation and a pillar upon which the foundations of Islam are established. It is incumbent upon Muslim leaders to collect Zakat from the wealthy to give to the poor, in accordance with the regulations set by Islamic Sharia.

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(Said et al., 2024)
Said, M. H. M., Elsheakh, M. R. M. E., & Khattab, A. M. A.-M. (2024). The Financial Resources in Islam and their Role in Achieving Economic Security: Zakat Obligation as a Model. International Journal of Academic Research in Business and Social Sciences, 14(3), 1369–1375.