The verse explains that the wisdom behind making some rich and others relatively poor is to make a balance in the society. If everybody should be rich, then no one will par-take a difficult work. But in this case, the rich needs some services which he cannot afford doing himself, while the poor has to sell his labour in order to earn and solve his immediate needs. So Islam is not agitating for total eradication of poverty (which is impossible) but calls for povertyalleviation. In a similar view, it is opined that ... if everyone had the same income, no matter what, there would be little incentive to work hard, gain skills, or innovate (Torado & Smith2006). From this we can comfortably conclude that the problem of eradicating absolute poverty is one of bad news and good news at the same time. Is like a glass that may be seen as either half empty or half full. (Torado & Smith 2006). Therefore in the Islamic point of view some degree of poverty among people is inevitable, but when some segment of the Ummah (Muslim community) is living at a starvation level, it is important that absolute poverty must be attacked as a matter of priority. This therefore means that the cause of such poverty should be identified and possible remedies suggested in consistent with the spirit of the Shari’ah. (Islamic laws) This is why the paper suggests cooperation in setting up businesses to create job opportunities for our youth.
In Table 1, one observes the strategies employed by the government in order to ensure goodgovernance, transparency, and accountability, distribution of wealth, empowerment of the poor, justice and curbing corruption. All these programmes are targeted at the people so that poverty would be eliminated in our society. In the history of this country, for instance, we have never heard where a military governor or military administrator was tried for corruption. However, many cases of corruption have been preferred against civilian governors and other functionaries in this civilian dispensation. Whether that act is serving as a deterrent for others is a different thing. Nevertheless, this may likely be an indication that democracy is better than any other forms of governance.
previous programs, GR as it was popularly called, failed to realize its objectives (Adawo, 2011). In a similar vein, General Buhari’s regime (1983-1985) introduced “Go Back to Land” programme which began to yield positive result in food production but short lived by a military coup which overthrew Buhari’s military government. General Babangida on assuming power in 1985 came with series of programmes designed as steps further towards povertyalleviation in Nigeria, via Structural Adjustment Programme (SAP) which include Directorate for Food Roads and Rural Infrastructure (DFRRI), National Directorate of Employment (NDE), People’s Bank, Community Bank. However, the resolve by the government to address the severe economic crisis in Nigeria in the early 1980s, the implementation of SAP sapped the people and worsened the living condition of the Nigerians (Oshewolo, 2011). Another, important milestone in the fight against poverty in Nigeria was the re-emergence of democratic governance in 1999. The new Administration under President Obasanjo attempted to reduce the 70 percent incidence of poverty in Nigeria therefore launched PovertyAlleviation Program (PAP) in 2000, with a view to create jobs for the unemployed in Nigeria (Iheanacho, 2016). Not satisfied with the performance of PAP, the Federal government rebranded the program to National Poverty Eradication Program (NAPEP) with an estimated N 470 Billion in the National budget, but was able to get an approval from the National Assembly to commit N 10 Billion to finance the Povertyalleviation program (Ogwumike, 2001), and a number of programmes and skills development activities were developed so as to create job and reduce poverty (Umukoro, 2013). Similarly, National Economic Empowerment & Development Strategy (NEEDS) was created by the Obasanjo’s administration in 2004. The ideals of NEEDS were premised on the Millennium Development Goals (MDGs) , with core priorities on poverty reduction, education, sanitation, environment, energy and health, with about US$1 billion expended since 2006 (UNDP, 2009). The NEEDS was designed to among other things make reforms in the fiscal and monetary policies, infrastructure development, entrench transparency, accountability, anti-corruption crusade and promote goodgovernance (Bambale, 2011). The NEEDS philosophy was seen as a catalyst for poverty reduction and sustainable livelihood (Ekpe, 2011). However, the success of NEEDS was put to question, as problems similar to those that affected the previous poverty fighting policies and programs manifested (UNDP, 2009). Additionally, President Yar’Adua on 29 th of May, 2007 launched the
5. Pragmatic Poverty Eradication Policies and Strategies. Essentially, Malaysia has followed the “Growth with Distribution” policy since the 1970s. This policy has been the thrust of macro-perspective policies such as the NEP (1970-1990), NDP(1991-2000), and NVP(2001-2010). In Malaysia, the uniqueness of this policy is in the affirmative action strategies, giving priority and emphasis to the indigenous or Bumiputra communities in terms of benefits of povertyalleviation and restructuring programs. Various socio-political and economic justifications may be given for this overriding strategy, which in the end benefits the nation in general in terms of creating a more balanced and just society. There was much debate on the possible trade-off between growth and equity, but Malaysia has shown that both growth and equity could be achieved with prudent and efficient management of financial, physical, economic and human resources. Here lies the critical role of state, especially through public sector management in ensuring goodgovernance and effective delivery mechanism of povertyalleviation programs. i) Growth Policies. Malaysia has always believed that growth is a pre-requisite for redistribution. Macro policies that have contributed to sustainable growth include (a) Structural Change and Diversification Policy that ensures smooth structural change of the economy from a commodity producer to industry and services producer. (b) Sectoral policies, including (i) Agriculture and Rural Development Policy with respect to food security and sufficiency, land development, land rehabilitation, rural development, National Agriculture Policies 1( NAP1, 1984-1991), 11(1992-1997), 111 (1998-2010),
Innovation in microfinance is given as any change in banking technology which resulted in improved viability and/or outreach of the microfinance institution. This paper examined the influence of innovative savings products in the Nigerian banking industry on welfare and business enterprise development of low-income earners and self-employed individuals in Nigeria. The paper employs primary data from a structured questionnaire and uses ordinary least squares to test study hypotheses. The results obtained show that the savings rate has increased by 160% since the introduction of the innovative savings account. The study therefore recommends more awareness programs on innovative savings products. Résumé L'innovation dans le secteur de la microfinance est caractérisée par des changements dans la technologie bancaire, qui ont permis une amélioration de la viabilité et/ou du rayonnement de l'institution de microfinance. Ce document examine l'influence des produits d'épargne novateurs dans l'industrie bancaire nigériane sur le welfare et le et développement des affaires des salariés à faibles revenus et des travailleurs autonomes au Nigéria. Le document utilise des données primaires à partir d'un questionnaire structuré et la méthode des moindres carrés ordinaires pour tester des hypothèses de l'étude. Les résultats obtenus montrent que le taux d'épargne a augmenté de 160% depuis l'introduction du nouveau compte d'épargne. L'étude recommande donc davantage de programmes de sensibilisation pour ce type de produits d'épargne.
An empirical study about the Credit Union in the agricultural area which aims to determine the per- formance of Credit Union in the perspective of rural economic development has been carried out in Kali- mantan in mid-2010 through a participatory approach to understanding rural uses group and individual interviews involving interviews, administrators, managers and users of Credit Union. By using qualitative descriptive analysis approach to the Credit Union, deliberately selected samples, obtained a description as follows: (1) The existence of credit union recognized by the community have a strategic role as an interme- diary activity of the rural economy, (2) The factual services provided by Credit Union has indicates success, (3) critical factor in the development of credit union for farm situated on the legality of institutional, man- agement capability and management, the economic feasibility of farming and technical assistance clients or service users Credit Union, (4) To initiate growth and development credit union to agricultural devel- opment is necessary to increase the capability for Human Resource managers and prospective managers Credit Union, support the strengthening of capital and technical assistance to customers of credit users. Keywords :Credit Union, Poverty, Rural Economic Development
The analysis of the socio-economic characteristics of the sampled households (Table 1) showed that 79.3% of the respondents were male while 20.7% were female. The marital status showed that 7.4% of the respondents were single, 85.9% were married, 3.0% were widow and 3.7% divorced. The age distribution showed 3% under 30 years of age, 19.3% between 31 – 40 years, 25.9% falls between 41 – 50 years while 51.9% were 51 years and above. The educational status shows that only 3.7% do not have any form of education at all while 31.1%, 19.3%, 43.7% and 2.2% had primary, secondary, tertiary and quranic education respectively This is in line with the submission of Govinda (2008) that investment in education is an important key to break the cycle of poverty and UNESCO 2006 which affirms that Literacy is a key aspect of human development with important benefits for people’s livelihoods and capabilities, influencing their ability to access information and resources and to manage change. The literacy and numeracy abilities of fishing communities play a significant role in the management of aquatic resources as well as in the maintenance and diversification of livelihoods. The household size was grouped into small (1 – 5 members) 50.4%, medium (6 - 10 members) 37.8% and large (>10 members) 11.9% while the religious profile of the respondents showed 73.3% were Christians and 26.7% were Muslims. The other occupation engaged in the study area showed fishing as having 63.7%, hunting 1.5%, trading 19.8% and artisans 15%. The sources of micro – credit used (Table 2) showed that cooperative society had the highest patronage with 37%, followed by commercial bank (20%), micro finance institution (17%), friends and relatives (11.9%) and rotational savings (5.2%).This is similar to the observation of Tietze et al
increased welfare for the general citizenry. In the opinion of Obadan (2001) the approach to povertyalleviation as expressed in the fundamental objectives of the development plans did not involve policies and programmes which directly targeted the poor. As a result of this development, the poor were worse off even though the economy has continue to witness increase in growth rate. Obadan (2001) notes in particular that the Structural Adjustment Programme (SAP) introduce in 1986 aggravated the incidence of poverty among many vulnerable groups in the society. As a result of this, several povertyAlleviation Programme Development Committee (PAPDC) in 1994 under the aegis of the National Planning commission. The primary objective of PAPDC was to advise the government on the design, co-ordination and implementation of povertyalleviation programme. This was followed with the establishment of community Action Programme for povertyAlleviation CAPPA in 1996. CAPPA attempts to ensure that the poor are not only carried along in the design and implementation of poverty projects that affects them but also involve in the formulation and management of the poverty projects. Obadan (2001) enumerated the following as some of the factors that have contributed to the failure of poverty related programmes and efforts. They are:
The descriptive survey design was adopted in investigating the extent of integration of povertyalleviation education contents in social studies curriculum of Nigeria junior secondary schools. The study was carried out in the six states of the south-south geo-political zone of Nigeria. 180 social studies teachers were purposefully used as respondents for the study. Five research questions guided the study. The study utilized a social studies curriculum content analysis and a 50-item researchers developed questionnaire structured on a 4-point likert modified scale. Mean rating scores were used to answer the research questions. Research findings indicated that povertyalleviation education was not significantly integrated in the social studies curriculum. There are qualitative benefits to be derived from the inculcation of povertyalleviation education, social studies teachers were not aware of the need for the inculcation of povertyalleviation education through social studies instruction, in addition, there were potential obstacles mitigating the integration of povertyalleviation education in social studies curriculum. Some of the established strategies for achieving integration of povertyalleviation education in social studies curriculum were: constant curriculum revision, expansion of social studies curriculum on national economic issues, emphasis on productive living amongst others. Conclusions and recommendations were articulated based on research findings.
This study attempts to raise the voice against the unequal distribution of right, opportunity and social justice among the people of Bangladesh. The objective of this study is to establish the argument that povertyalleviation is a suboptimal strategy in Bangladesh. The strategy ought to target poverty elimination. One of the important obstacles to eliminate poverty in Bangladesh is implicit social class which patronizes corruption that creates obstacles to provide rights and opportunity and social justice for the poor. Information technology might address this problem through creating transparent database for the poor. Subsidy can be transferred directly to the poor through mobile phone this can play an important role to bypass so) called classes in the society. This problem can be address through many ways what is more important is public commitment and appropriate planning. Keywords: Poverty, Corruption, Social Class
Sweet Potato production, consumption and food security Sweet Potato is the fourth most important food crop in the world (IITA, 2002). The World’s annual output is greater than annual output of all other roots and tuber crops (FAOSTAT, 2008). Sweet potato is cultivated in 140 countries and more than 100 of which are located in the tropical and sub-tropical zones (Beukema et al. 1990). Annual world production currently totals 314.37 million tones and covers 19.55 million hectares (FAOSTAT, 2008). More than a million people worldwide eat sweet potato and the crop forms an important part of the diet of more than half a billion consumers in developing countries (FAOSTAT, 2008). In Africa, Nigeria occupies the seventh position in terms of total sweet potato production, 840,000 tonnes in 2007. This implies that with the average market price of N70, 000/tones in 2007 over N5 billion circulated in the Nigerian economy through sweet potato production. Aboajah (2009) revealed in a study on sweet potato consumption pattern of households, that households in North Central Nigeria spend only 10% of their food budget on sweet potato. Similarly, FAOSTAT (2008) reported that Nigeria has the lowest per capital sweet potato consumption of 3.27kg in Africa. The households in Nasarawa State of North Central Nigeria also identified sweet potato being a staple food crop, nutritional content convenient fast food, easy to cook compared with other food crops as most important factors influencing sweet potato consumption. These cardinal issues are paramount in solving food security problems. Nigerian’s estimated cultivated area under sweet potato in 2007 is 266,000 hectares with an average yield of 3.27 tonnes/ha (FAOSTAT, 2008).
In this study, the analysis regarding the impact of islamic microfinance on micro business owner’s povertyalleviation was conducted by an as- sessing the difference between microbusiness owner’s income before and after joining Islamic MFI’s financing program. Numerous studies had al- ready explained the impact of islamic microfinance on the poverty allevia- tion by analyzing the increase in customer’s income. Besides the assess- ment of income difference using paired sample t-test, this study also con- ducted the comparison of poverty level by using several poverty indica- tors, they were headcount ratio, poverty gap index, income gap index, and sen index of poverty.
The purpose of this study is to measure the impact of BMT on povertyalleviation in Bandung, as the capital city of West Java with the biggest population province in Indonesia. This study is incorporates income variables of micro-entrepreneur’s household, as well as the spiritual level indicator of micro-entrepreneur before and after they received financing from BMT. This is an impact assessment research. Any necessary information for this study will be extracted using empirical method. The primary data obtained through in-depth questionnaires in Bandung, Indonesia. The first object of impact assessment on this study is a group of micro-entrepreneurs that already using financing program from BMT one year or more, and second object is a group of micro-entrepreneurs that less than one year using BMT financing.To measure the impact of the BMT before and after financing on spiritual levels, this research using the pair-t test. The results of this study can be concluded that the number of poor micro-entrepreneurs in Bandung has been decreasing since they received BMT financing and BMT has influencing povertyalleviation among micro-entrepreneurs.
Malaysia`s Experience “ AR-Rahnu” 21 : The Malaysians developed a system known as “Ar- Rahnu” the system was simply based on the way widely accepted notion: “gold is women`s best friend.” Malaysians made use of the simple facts all agree on, gold adorns a woman`s looks, it enhances status as it implies wealth, it is a saving mechanism as its price is stable and it normally appreciates, and it can serve as collateral whenever cash is needed. Micro financiers found out that Malaysians were reluctant to engage in banking activities that are un-Islamic. Therefore they devised a system whereby gold was used as collateral while the lender charges a fee for keeping the gold safe. Hence the system was based on the following principles of Islamic microfinance; it is interest free, transparent and customer friendly; it follows clear record keeping of all transaction, and secures safe keeping. “Ar-Rahnu” received wide acceptance in Malaysia by poor families and is considered a very useful tool in encouraging savings and investments.
decision- making impact still seem insignificant. The United Nations Development Programme, in its Human Development Report in 2005 highlighted part of the examples to drive home the point that despite the substantial growth in strengthening women’s capabilities, both the male and female gender still live in an unequal world. The UN meeting underlined the need to guarantee that gender orientation correspondence is an essential objective in every aspect of social and economic improvement incorporates the dialogue of poverty and its decrease. Correspondingly, the World Bank (1999) additionally made goals to address poverty concerning the diverse impacts on women. One essential objective for the World Bank group was the update of laws and managerial practices to guarantee women's equivalent rights and access to financial assets. Ugo and Ukpere (2009) agreed that gender mainstreaming fortifies women's dynamic inclusion in povertyalleviationthrough connecting women's abilities and commitments with full scale economic issues.
DOI: 10.4236/jss.2019.74007 71 Open Journal of Social Sciences Committee of the CPC decided to increase the number of national pover- ty-stricken countries up to 592. Then, in 2001, to support the introduction of The Outline for Poverty Reduction and Development of China’s Rural Areas (2001 - 2010), all the poverty-stricken counties in eastern coastal areas were re- moved of such title, and the title of national poverty-stricken counties was transferred to counties in middle western underdeveloped areas, which maintain the total number of 592. Therefore, in 2011, present contiguous destitute areas came into being. On the press conference about The Outline for Poverty Reduc- tion and Development of China’s Rural Areas (2011 - 2020), the State Council, for the first time, proposed that we should regard contiguous destitute areas as the chief battlefield in povertyalleviation campaign and promote it up to a national major strategical measure. The Outline lists fourteen contiguous destitute areas. General Secretary Xi Jinping has pointed out that povertyalleviation work has already been to the tough stage that “we have to bite the hardest bones and achieve success”, and those hardest bones refer to those fourteen contiguous destitute areas mentioned in The Outline . To achieve the goal that China will build a moderately prosperous society in an all-around way in 2020, we should emphasize the middle western districts and the difficulties lying in those conti- guous destitute areas. Basically covering most poverty-stricken areas and deeply impoverished population, contiguous destitute areas can’t develop just by the driving force of general economic growth, neither do the regular poverty allevia- tion methods work, which indicates the extreme difficulty in povertyalleviation and development. Therefore, we need further efforts to intensify our measures to implement povertyalleviation programs in contiguous destitute areas. As the well-known economist Thodore W. Schults found, some countries with poor natural resources (such as Switzerland and Denmark) accelerated their economic growth after World War II. In some developing countries, even with the same material assistance, their development speed is still not satisfactory. Schultz led the study of this phenomenon. He pointed out that traditional economic theory holds that economic growth must depend on the increase of physical capital and labor, but this cannot explain all the factors of productivity improvement. Statis- tics since World War II show that the growth of national income is much larger than the growth of national resources input. Therefore, he believes that an im- portant factor is at work but is ignored. This factor is human capital.
In Nigeria, an estimated 126 million out of the country`s 168.8million (as estimated in 2012) people live on less than N220.00 or USD1.25 per day. The enormous wealth in the country has not impacted positively on the well-being of the citizens. (http://data.worldbank.org/indicator/SP.POP.TOTL;Sen, 2010). Despite the average GDP per capita, for a developing African nation, much of the Nigeria`s population suffers from extreme poverty. Nigeria ranked 151 out of 177 countries in the United Nations Development Index in 2004. Nigeria was ranked 158th on the United Nations’ Human Poverty Index and over 50% of the population are living below $1 per day. In 2010, Nigeria ranked 159 th out of 177countries in Human Development Index (Odularu, 2008:3; Ogunkua 2011). The disparity between GDP per capita and the number of people living below $1 per day illustrates the enormous income gap in the country. Available data from the Harmonized Nigeria Living Standard Survey (HNLSS) 2009/2010, which remains the follow-up to the Nigeria Living Standard Survey (NLSS) 2003/2004, conducted by the NBS(National Bureau of Statistics) reveals that efforts to alleviate poverty was not satisfactory. For instance, relative poverty and absolute poverty rates increased to 69.0% and 60.9% in 2010 respectively from 54.4% and 54.7% in 2004(2011 Annual Performance Report:38). According to the National Bureau of Statistics, 112.519 million Nigerians live in relative poverty conditions while other poverty measurement standard, absolute measure, which puts the country’s poverty rate at 99.284 million or 60.9 per cent (Onuba, 2012).
could not enhance and uplift the poor if not integrated with proper training and monitoring. The provision of small loans is not a standalone factor in poverty eradication because most of the microfinance customers lack education, skills, and a risk-taking instinct. Income generation though entrepreneurial skills requires a broad vision, creativity, and consistency which are not viable in microfinance customers as most of the poor are merely ‘employees’ rather than employers or entrepreneurs (Mahajan and Ramola, 2003; Pollin, 2005; Karnani, 2007). The focus on less-poor entrepreneurs casts doubts on its objectivity because the prime motive of microfinance is povertyalleviation. The main reasons of ‘mission drift’ are the effects of commercialization and business-orientation. The other formal financial institutions, operating for profits, purposefully neglect the small entrepreneurs due to cost considerations (usually higher in small lending). On the other hand, microfinance institutions provide financial resources to small entrepreneurs on the expense of neglecting the poor to intact their financial sustainability. Bateman (2011) asserts that after the adoption of ‘randomized control trial’ (RCT) methodology in 2007, most of the impact evaluation studies based on RCT have found no or little effects of microfinance services on the poor. In general, the media usually shows the success stories of microfinance and neglect the failed-programmes. A biased attitude of media strengthens the concept that microfinance is an all-in-one toolkit for the poor.
The idea of microfinance is to make an effective and efficient tool for breaking the cycle of poverty. It starts with the promise to lift millions out of poverty, to empower women, to help those on the margin of society. Economist and Nobel Laureate Muhammad Yunus repeatedly quoted two tenets are, “Credit is the fundamental human right” (Yunus, 1987) and “Poverty will one day be found only in a museum” (Yunus, 2007). His micro loan concept allows poor people on the bottom of the income ladder to realize their dreams. Roodman and Morduch (2014) gave a well-noted work on the impact of microcredit on households. However, their study has been based on field survey in Bangladesh. Contradictory findings of this work have produced lasting confusion. Pitt and Khandker (1998) apply a quasi-experimental design to find out microfinance impact. They concluded that microfinance raised household expenditure particularly in case of lending to women. Khandker (2005) applying panel data analysis concluded that microfinance helped extremely poor people even more than moderately poor people. But using simpler estimators than Pitt and Khandker (1998), Morduch (1999a) finds no impact on the level of expenditure. Nevertheless, he found that microfinance reduces volatility in consumption. These conflicting results had never been openly confronted and reconciled. Opinion and findings cause stalemate position and require further studies to conclude. A replication exercise shows that all these studies’ evidence for impact is weak (Roodman & Morduch, 2014).
Upon the disbursement of the funds, moral hazard problem such as misuse of the funds other than what it intended to be utilized for, need to be tackled to ensure the effectiveness of the scheme/programme. When the financing funds are used for non-productive purposes, this increases the chances of default among the scheme’s members. Typically, under the standard or conventional microfinance scheme, the monitoring initiatives to mitigate this risk are relatively costly. Given that the operating cost allocation of Waqf-based microfinance is quite low, this risk may become an obstacle for the future growth and development of the scheme. Nevertheless, by using Islamic mode of financing such as Murabahah, Bai-muajjal or Ijarah (leasing), the Islamic MFIs can to a certain extent mitigate this moral hazard risk. These instruments involve real transaction and instead of cash being given out, which asset or good is being exchanged. As a result, this will eliminate the opportunity of diverting the funds for non-productive uses other than that what it intended for. 3. Economic Viability