Zakat money .. an effective tool to eradicate poverty and hunger in Islamic countries

– How many poor people in Islamic countries?

This is about 322 million people whose daily income does not exceed $ 1.25.

What is the estimated value of zakat on Muslim money annually?

3 trillion and 370 billion dollars annually, according to estimates by the Secretary-General of the International Union of Muslim Scholars.

Most of the countries of the Islamic world are experiencing economic and social crises that they could not overcome, especially poverty, unemployment and hunger, due to various reasons related to the lack of optimal exploitation of resources, corruption, conflicts and others . .

According to the latest official data released by the Organization for Islamic Cooperation, 322 million people live below the poverty line in its member states (57 Islamic countries, which means that their daily income does not exceed $ 1.25).

These numbers are steadily increasing over the coming years, in the face of increasing global economic crises, high inflation rates and the prices of goods and services, which means that poverty and hunger are exacerbated and the suffering of Muslims is exacerbated.

It can not be said that there is no solution to this crisis. does not become.

Zakat is the third pillar among the five pillars of Islam, and it is a “financial worship” that a Muslim performs by deducting 2.5% of his net savings annually, after he has met the conditions to to take it out, the most important of which is that the savings reach the legal quorum for them, which is 85 grams of gold (about $ 5,185).

poverty

Zakat ends poverty

In previous statements, the Secretary-General of the International Union of Muslim Scholars Ali Al-Qara Daghi said: “Paying zakat funds correctly and distributing them fairly will ensure that not a single poor person on earth will remain, especially if a strategic plan is developed for this based on the fight against corruption in all its forms and the reform of the economic and political system. and financially. ”

Al-Qaradaghi added, “Disseminating zakat funds with the establishment of a critical financial control system, taking care of production, giving the poor the tools of production and investment, and setting up development projects will definitely guarantee the eradication of poverty. “

He explained that if zakat is calculated at 2.5% of the volume of funds, financial derivatives, minerals, factories, oil and gas, civil and military industries and others in Islamic countries, “it is 3 trillion and 370 billion annually dollars. “

He pointed out that the world poverty rate is less than 10%, and the number of poor people receiving less than $ 1.5 a day is about 702 million, which means that zakat guarantees the end of poverty on earth.

At the level of the Arabian Gulf, al-Qara Daghi mentioned that the zakat over the wealth of Muslims in the Gulf amounts to $ 100 billion.

He noted that the zakat funds are not small if taken at all, noting that the investments of Islamic countries abroad amount to one trillion five hundred billion dollars, which means that their zakat amounts to 37.5 billion dollars.

Al-Qaradaghi has called for part of the mineral and oil imports to be allocated to the comprehensive development of the Islamic nation, on the basis that Islam has imposed a fifth in the ore, which includes treasures and minerals that are underground. is located. “

He added: “It is not permissible for a rich country to which God Almighty has given this wealth to leave a poor Muslim country without contributing to the removal of poverty, poverty, hunger and deprivation from the rest of the Muslims are not. “

poverty

oil

According to figures collected by “Al-Khaleej Online”, the total daily production of crude oil by Islamic countries is about 30 million barrels, and the average price per barrel in the last year 2021 was about $ 70, which means that the price per day of which amounts to $ 2.612 billion, and 766 billion and $ 500 million annually.

When the value of zakat on money is calculated for the last number, which is the fifth, it will amount to $ 153 billion per year.

rich Arabs

According to data from the American “Forbes” magazine in its list of the world’s richest for 2022, among the 10 richest Arabs, there are 8 Muslims: Issad Rebrab from Algeria, with a net value of 5.1 billion dollars, Najib Mikati of Lebanon with a fortune of $ 3.2 billion, and his compatriot Taha Mikati $ 3.2 billion.

In addition to Hussain Sajwani with a fortune of $ 2.7 billion, Abdullah bin Ahmed Al Ghurair with $ 2.6 billion, and Abdullah Al Futtaim with $ 2.5 billion, all from the UAE.

The list also includes Mohamed Mansour of Egypt, with a net worth of $ 2.5 billion, and Suhail Bahwan of the Sultanate of Oman, with a fortune of $ 2.5 billion.

Their total wealth is $ 22.3 billion, while the value of zakat on these funds (2.5%) is estimated at about $ 557.5 million annually.

According to Forbes data in its 2022 report, the total wealth of the rich Arabs is $ 52.9 billion, and if zakat is calculated, it amounts to about $ 1.3 billion annually.

oil

Sovereignty Funds

According to previous statements by Sheikh Qara Daghi, zakat is also obligatory on the Islamic sovereign funds, which represent your great wealth.

According to Arab official data, the Saudi Sovereignty Fund has assets of $ 430 billion, while the assets of the Abu Dhabi investment authority are about $ 649.18 billion, and the Kuwait investment authority is $ 533.6 billion.

The assets of the Investment Corporation of Dubai are $ 301.5 billion, the Qatar Investment Authority is $ 295.2 billion, and the Abu Dhabi government’s Mubadala Investment Company is $ 243 billion.

The Emirates Investment Authority, which is affiliated with the federal government in the UAE, has assets worth $ 44.5 billion, while the Libyan Investment Authority owns assets worth $ 67 billion, while the assets of the Sovereign Wealth Fund of the United States Bahrain Government amounts to 18.67. billion dollars, while the Omani Investment Authority owns $ 17 billion.

Official data show that the Egyptian Sovereignty Fund has assets of $ 11.96 billion, while the Palestinian Investment Fund has assets of $ 856 million.

There is no accurate data available for the size of the assets of the rest of the wealth funds of Arab and Islamic countries, and the total of these figures: 2 trillion and 612 billion and 286 million dollars, the value of the zakat they imposed is is $ 65 billion annually.

zakat

magic solution

In a reading on the issues of poverty and zakat in Islamic countries, economist Munir Seif said that “the percentage of poor in the Islamic world, according to the latest statistics, has reached about 33%, indicating that Islamic countries suffers from the problem of poverty significantly. “

In his interview with Al-Khaleej Online, Saif added that “the high poverty rates are due to major factors, the most important of which is that the policies of Islamic countries are not going in the right direction to reduce the number of poor, in addition to the corruption and political chaos that exist in those countries. “

He declared that the Islamic world is not poor in money, wealth and resources; Islamic and Arab countries have elements that make them in the ranks of rich countries, but many factors and policies have contributed to the emergence of the problem of poverty in these countries.

Among these factors, according to Seif, are the failure to implement realistic plans that address the problem of poverty, and the lack of a policy of social solidarity and a fair distribution of wealth if the rich Arab and Islamic countries invest their money in the poor. countries, it will inevitably have a significant impact on helping those countries get rid of poverty crises.

The factors that cause poverty also include the poor Arab countries’ lack of ability to create a successful investment environment that attracts investments from rich non-Muslim countries, which has created fears in the latter to invest in these countries.

Saif said: “Poor Arab and Islamic countries have ruling regimes that suffer from poverty in governance and leadership, which have caused widespread corruption in their government agencies, paralyzing the investment side, and the inability to create investment and economic opportunities or economic empowerment. in their societies, leading to an increase in poverty rates and a lack of development.

It is believed that in addition to the aforementioned factors, the non-payment of zakat funds in an orderly and equitable manner contributes to the increase in poverty rates.

He explains that when zakat was imposed by Islamic law, its purpose was to redistribute wealth between the poor and the rich, those lands.

He called on all Islamic countries to establish a special donation fund for zakat funds in accordance with the requirements of the modern era.

He points out that this fund, if managed properly, will be a “magic bullet”, and it will quickly succeed in reviving Islamic economies and ending their crises.

Leave a Comment