Waqf is one of the sources of Islamic Economic system. It refers to the voluntary charity which has unique presence in Islam. Islamic law is the first law ever that defines and regulates Waqf as a civil societal institution. It started since the time of the Prophet Muhammad (PBUH) himself. Waqf before Islam was always a religious exercise when a rich person assigns a property to the temple and monks would use it for the temple expenses. In present, it has proved around the globe that Micro Credit and Safety Net Program are not successful in reducing poverty and income inequality. In this context, Waqf can be one of the vital alternatives alongside Zakah because early history indicates free education, scholarship, orphanage, free treatment etc as provided by Waqf based institutions. But current scenario shows that, Waqf based institutions are not growing at a considerable level. If we really want to do something for the needy and the poor, we have to revive this much needed institution. This paper shares and explores the current status of the Waqf sector in Bangladesh from socio-economicperspective and underlines the areas that need a fresh look for revitalization and proper utilization of Waqf. The paper also tries to assess the role of Waqf in sustainableeconomicdevelopment and reducing poverty in the context of Bangladesh. There are some specific suggestions and recommendations that deserve serious consideration for the development of Waqf in the country.
Education provides a foundation for eradicating poverty and fostering economicdevelopment. The objective of this study is to investigate the influences of education and other demographic, economic, and social factors on poverty of household in Bangladesh through an analysis of data from the Household Income and Expenditure Survey (HIES) 2010 conducted by Bangladesh Bureau of Statistics (BBS). A total of 12,240 households are considered for analyzing the status of household’s poverty. CBN method is employed for estimating poverty of household. After adjustment in a multivariate logistic regression model an increase in educational level of household’s head had a strong association with the probability of a household being non-poor. Increased the number of literate member or presence of a graduate or higher educated member in household, the probability of household being poor is decreased. Increasing investment in education can lead a household from being poor to non-poor. The study results also highlights that rural households are poorer than urban households and household size; age, sex and employment status of household’s head; construction materials of walls and roofs, source of drinking water all have significant impact on household’s poverty level.
Firstly, all the employees in the agency are local people who speak same language and share same social, economic and cultural background with the members. This is not only the foundation to carry out all the publicizing and mobilization work, but also the premise to establish the micro-finance credit system. Secondly, the joint guarantee group consists of 4 to 7 households. To team up with who is completely up to their own choice. Since these households in the same village are all very familiar with each other, those bad-credit households would have been eliminated in the first place because the members in the same group should be able to face common risks and assume common responsibility. In addition, local customs also play important role when it comes to repayment. Thirdly, the director of the agency is usually those with high integrity in the village. The employee will take director’s opinion into consideration when choosing clients, which has further lower the risk. In personal guaranteed loan, it is required by CFPA that a co-borrower is needed besides the guarantee. The co-borrower can be spouse, siblings or other relatives.
Poverty prevalence dates back to the existence of human being and today it has occupied foremost place on human development agendas of virtually all countries of the world. Islamic microfinance (IM) is becoming an increasingly popular mechanism for alleviating poverty, especially in developing countries around the world. The concept of IM adheres to the principles of Islam and is a form of socially responsible investment. In this perspective, many economists think that there is a common goal in Islam and microfinance which can be summarized in making people self reliant, enterprising and self respecting. A solution to achieve the target of poverty eradication is by practicing microfinance in an Islamic way. Islamic microfinance which involves Shari’ah-compliant way of financing and providing credit without collateral or any property for guarantee to the marginally poor for their business, is one of the most popular tools employed as part of a poverty reduction strategy, empowering and increasing the productivity of poor, giving social benefits to them in a sustainable way, and aiding economicdevelopment.
The implementation of PBA system to attract more donors in contributing to the global waqf fund could be emulated and implemented in light of Maqasidshariah. As a holistic system, Islam provides various mechanisms in mobilising resources and channelling of funds in an equitable manner to all. Apart from zakat, institution of waqfplays an important role to elevate the overall economic and social development. Tracing back the role of waqf over the years, it has been a source of financing for various sectors such as administration of schools, mosques and more. It appears that this institution is highly relevant on the reinforcement to the alleviation of poverty as essentially the funds are augmented for charitable purposes for a longer period of time (infinity). Interestingly, to suit the cotemporary context, there is still a lacuna to explore any tools that are able to increase the participation of donors to the funds that can utilize for waqf purpose.
To answer the problems of limited capital and with the government’s fiscal capability of diminish- ing, it is necessary to further optimize the potential of financial institutions which may become an alter- native source of funding rural communities. One of the financial institutions that may be utilized and encouraged to finance economic activities in rural areas that the majority of business people are in- cluded in the micro segment of Microfinance Insti- tutions (MFIs). One form of existing MFIs are the Credit Union for a long time in Kalimantan. More specific issues are:
Globally, there has been a growing interest in entrepreneurship as a mechanism for povertyalleviation across international boundaries (Murphy & Coombes, 2009). That entrepreneurship can help alleviate poverty is not new, and reﬂects the assumption that entrepreneurial activity leads to economic growth and development in most of the developed countries. However, the economic rationale for the eradication of poverty is not universally compelling to all organizations. For ﬁrms that are proﬁt oriented and already in developed economies, market outcomes in contexts of abject poverty that generally have the additional difﬁculty of being international are likely to be inefﬁcient. The successful contribution of entrepreneurship to povertyalleviation and economicdevelopment in Nigeria depends on entrepreneurship training and orientation. Entrepreneurship development programmes do not always lead to economic growth, but it has the greatest potential for signiﬁcant economic impact and poverty reduction in many parts of the world. Countries like Bangladesh, South Africa has recorded success in entrepreneurship development government help some of the poor with short-term loan, training in entrepreneurship and provision skills development and provision of other facilities that could enhance owners of micro and small enterprises opportunities to grow their businesses and get themselves and others out of poverty (Mensah & Benedict, 2010; Alvarez, Barney & Anderson 2013). Additionally, in Cameroon, studies show that there is a bi-directional significant relationship between entrepreneurship and poverty reduction. The study concludes that training and retraining of entrepreneurs as well as organizing entrepreneurship skills acquisition programmes are vital to boost entrepreneurship in order to reduce poverty in the country (Wajung & Mbella 2014). Several studies on entrepreneurship in Nigeria concentrate on the contribution of entrepreneurship to sustainableeconomicdevelopment, job creation, innovation and resource allocation, but there is a little attention on the effect of entrepreneurship development programs on povertyalleviation. The success of entrepreneurship development programs on povertyalleviation largely depends on many factors including skills acquisition, training, and educational development among others. Also, most of the government efforts to reduce poverty in the country were not tailored towards entrepreneurship development for the unemployed people in the society. These problems, therefore, prompt the need for current paper. The objective of this paper is to examine the impact of entrepreneurship development on povertyalleviation in terms technical skill on youth empowerment for sustainable national development.
Other problems such as corruption, power shortage, political unrest, rising inflation, and natural disasters have withheld the true potential of the economy as a whole. The government should provide favorable environment for entrepreneurship development in terms of favorable financial, economic, sociocultural, legal policies, and functional infrastructure (Laura, 2003; (Phillip, 2011) and (Laura, 2003) argued that entrepreneurship can play a significant and a positive role in the development of the economy in developing countries. Problems in maintaining high quality, especially for SMEs which target to grow in size, were highlighted in the paper by Hossain et al., 2009. Similarly, for businesses which have been successful in the SME, other challenges for their growth include obtaining economies of scale and getting hold of cost-effective raw materials, to keep and enable them to compete in the market (Chowdhury, 2007).
The purpose of this paper is to discuss the potential role of the institution of Waqf in povertyalleviation. Poverty is a complex, multi-dimensional phenomenon that has captured the attention of numerous scholars and agencies globally. The social role of the Islamic financial sector can be best exemplified by providing finance to the poor to increase their income and wealth. This paper will explore on how microfinance can be provided on Shariah compliant basis through Waqf model. This research also reviewing the development of the integrated Waqf based Islamic microfinance which aimed to provide solutions to reduce poverty. An integration of Waqf-based Islamic microfinance (IWIM) model is proposed to address all the practical challenges of microfinance faced in Muslim communities. In this model, microfinance is practised in compliance with Shari’ah to address the multi-dimensional aspects of poverty and empowering the poor in order to enhance the socio-economicdevelopment and hence the well- being of the Ummah. With this aspiration, the IWIM model aims to tackle the challenges related to the scarcity of capital, inadequate human resources, absence of proper Takaful programs and project financing in an integrated approach. However, Waqf based microfinance still may be facing some problems should be addressed which related to credit risk, moral hazard, and economic viability.
Tourism sector has been considered as the crucial sectors of many different countries of the world. And sustainable tourism brings enormous scope as a rapid growing economic sector on the basis of foreign exchange earnings and generation of employment opportunity and thereby elevating poverty from the country. The central aim of this study is to investigate the role of sustainable tourism in alleviating poverty from developing countries, especially the northern part of Bangladesh. For this purpose, the different tourism sites have been selected that are situated in Rajshahi region like Padma Garden, Varendra Museum and Shaheed Kamruzzaman Zoo. Rajshahi, the major tourist destination region in Bangladesh which is very beautiful and flourished that has a great chance to contribute country’s infrastructure and economicdevelopment. This study conducts a survey on 200 respondents in three different places of Rajshahi through the structured questionnaires, observation, interview and literature review. An exploratory research method was employed because the nature of the study was descriptive due to the fact that most of the respondents were illiterate or semi illiterate. Besides IBM SPSS Statistics 20 is being used to analyze the data. Through the factor analysis and other measurements tools this study expatiates the social, cultural, economic, environmental and other factors which touching the sustainability of Rajshahi and also provide recommendations about the required steps that needs to be taken into account to palliate and to manage the drawbacks of tourism to make Rajshahi as a sustainable tourism destination. Besides it reveals the relationship between tourism development and povertyalleviation in Bangladesh. The study also suggested few ways by which existing tourism can be promoted and well developed in Bangladesh thereby ensuring sustainable tourism development (STD) and economic growth.
In addition, in order to achieve innovative targeted povertyalleviation model and accelerate targeted povertyalleviation efforts in poverty-stricken areas across the province, the provincial finance office take the lead, provincial finance office, Shijiazhuang central sub-branch of the People’s Bank of China, provincial poverty relief office, Hebei banking supervision bureau, Hebei securities regula- tory bureau, Hebei insurance bureau, ministry of industry and information and related financial institutions established the provincial financial support group. However, many problems still exist in financial povertyalleviation. We need to summarize the successful experience of the financial povertyalleviation demon- stration county, take the experience gained at one unit and popularize it in a whole area and give full play to the powerful role of finance in driving economicdevelopment (China Statistics Press, 2011).
The overall objective of this paper is to determine the role played by forestry in alleviating poverty in Kenya. It also seeks to examine and analyse the extent of poverty among people living in Cherangani Hills, West Pokot; assess the benefits of forestry to rural communities; investigate the relationship between forest dependence and poverty and to make policy recommendations on ways of enhancing the contribution of forests in alleviating poverty. Two methods were used to derive data for the study. Secondary data was obtained by review of existing literature related to the subject while primary data was obtained through a survey among 200 households. The survey was based on Multistage sampling procedure. Data was collected through a structured questionnaire, an interview schedule and discussions with key informants and analyzed using descriptive statistics and regression analysis techniques. The findings revealed that 69.5% of the population had incomes falling below the official poverty line. Two categories of forest products had a net effect on rural poverty; timber products were mainly commercialized and traded by people with sufficient capital, while the poor mainly utilized non-timber forest products. The findings further revealed a significant positive relationship between poverty level and household size. There was a significant difference in poverty level among households having forestry as a source of income compared with those without it. On the basis of these findings, it was concluded that forests act to ameliorate the incidence of poverty in the study area. It was recommended that to further enhance this contribution, it was imperative to undertake conservation programmes that were sensitive and responsive to community needs and that aimed to strike a balance between utilization level of forest resources and their renewable rate.
The main objective of this study was to examine the contributions of Diaspora on household povertyalleviation in Unguja Urban West Region Zanzibar. The results indicate that the people living in Diaspora contribute greatly to their household members in terms of improving their income. The Diaspora brought to the home population between TZS 1, 000,000 up to TZS 5,000,000 which mark 64% of the income. About 44% of the total income brought by Diaspora is coming in the holy month of Ramadan. While 33.3% of the income is coming in the holydays and only 23% of the funds are coming in other months when needed by household members. Furthermore, the results show the positive effect on the contribution of Diaspora on supporting social services to the household members. Whereas 59% of the income brought for social services from the Diaspora is being used for education development, 26% is being used for the development of health and15% is for other services like paying for electricity and water bills. Zanzibaris in Diaspora are increasingly making contributions to the establishment of investments. The statistics on investment by Diaspora show that investment in car ranks top (28.2% ) followed by investment in running shops (18%) building schools (15.3%), establishing stationary, (15.3%) opening dispensary (13%) and 10.2% are invested in other areas. General findings reveal that members living in Diaspora established Information Technology Centre and Education Centres in Unguja Ukuu which help the member of households and other people in the society in Unguja. The study conclude that Diaspora is important in the poverty reduction to the extent that their contribution in improving peoples income, provision of social services like education and health services are the major indicators in the improvement of living standards to the people. It is recommended therefore that the Zanzibar government should increasingly recognize the contribution they make in povertyalleviation and economicdevelopment of their home country and has to take some positive steps to engage in Diaspora. Also the government is recommended to know where Diaspora lives, their numbers, level of education and their occupation the case that will be easily to utilize them in their country of origin
Deep and thorough analysis of the usage of soil-centred proverbs by the Igbo people of Nigeria in various aspects of life and living, suggests and affirms the central role of the soil resource to basic survival in food and energy, food secu- rity, peaceful coexistence, unity of purpose, sustainable and liveable environ- ment and cities as well as socioeconomic characteristics. Incorporating socio- economic perspectives into soil security could include preserving and promoting our age-long soil proverbs as they are words of wisdom derived from the impor- tance and diversely wide sets of the soil resource. Soil proverbs in this context could be deployed by science communicators in performing the remarkably daunting task of relating our science heterogeneous public.
Self-Help Groups are a small group of individual members who voluntarily come together and form an association for achieving a common objective. In most cases, SHGs are constituted by persons known to one another and coming from the same village community or neighbourhood. SHGs are small in size with membership ranging from 10 to 20 and are homogeneous. SHGs have certain pre- groups binding factor. These groups start with saving and not with seeking credit from the group, then uses its savings to extend loans to SHG members to meet their emergency and other attendant needs. The members factor in many parameters to prioritize loans like savings per member, maximum size of loans, guarantee mechanisms in loan sanctions. The empowerment of women through SHGs would gives benefits not only to individual woman but also for the family and community as a whole through collective action for the development. The SHGs have the common perception of need and impulse towards collective action. Empowering women not for economic need alone, but also for more holistic social development. The SHGs empower women both socially and economically. They encourage women to participate in the decision making in the household, community local democratic sectors and prepare women to take leadership position.
From the utilitarian aspect of man as the supreme user of natural resources (including forests), chang- es in the human condition (over space and time and their interaction) are the ultimate determinants of the forest management courses. Humans convert the natural capital into other forms of capital (ﬁnan- cial, human and manufactured) for their livelihood (ANDERSSON et al. 2004). Thus forest management encompasses administrative, economic, legal, social and technical measures involved in the conservation and use of natural forests and plantation (HAYENS 2005; ANDERSSON et al. 2004). It is ridden with multiple complexities and dynamism. It is charac- terized by multi-level and multi-scale management, varying in: 1. spatial scales (from local to global); 2. temporal scales (from a single event to long-term trends); 3. socio-economic scale of interests (from a speciﬁc policy to general issues). The underlying causes of forest management changes are numer- ous and inter-linked (for review see RUDEL et al. 2005; ANDERSSON et al. 2004; OKSANEN et al. 2002; DASGUPTA 2001).
Bangladesh is potentially capable of rapid, self-reliant and equitable development under the present AL leadership. But the combination of strategic openness and self-reliance requires firm, skillful and committed leadership at all levels. Our current situation is perilous precisely because the tentative moves towards a self-reliant and pro-people political and economic system have made powerful anti-liberation and anti-people elements in our country desperate. In addition to confronting these challenges tactically, our medium to long run strategic perspective must involve reduction of reliance on the undesirable and burdensome elements of the so-called foreign aid, much of which has created dependence and a domestic parasitic clientalism for big capital from advanced countries. While we must be open towards genuine development projects funded by donors who will build our domestic capabilities, we must reject the Trojan horse of aid that forces the adoption of neoliberal policies and weaken our sovereignty. We must also reject the manipulative use of big NGOs to sabotage the authority of a people’s government in Bangladesh. On the positive side, we must emphasize the building of governance institutions according to the ideals of our war of liberation---secularism, democracy, sovereignty and social justice. In addition, we must tackle the challenges of long run ecological sustainability including the challenges from climate change. Nine specific strategic areas ranging from strategic openness to innovation and building up of human resources through progressive educational and other policies are discussed in this pro- people position paper.
Cizakca (1998: 45) also provided serious attention to the role of waqf for lowering interest rate by providing the most essential social services without any cost to the government. This important contribution of the waqf system towards the gradual elimination of riba is not yet well recognized by Islamic economists. In other words, a re-establishment and revitalization of the waqf system should be considered as a vital step in the struggle to eliminate riba. Accordingly, the gradual elimination or reduction of interest through the waqf system should be taken into consideration. The waqf could fulfill these functions by voluntary donations made by the well to do people. Thus, privately accumulated capital may be voluntarily endowed to finance and develop social services to the society without being trapped into deficit financing at all.
Analyzing the loan history of the respondents, this research found that the MFI plays an important role in scaling up the enterprise through ensuring continuous capital flow to the business by providing credit support. All the successful entrepreneurs, contrary to the unsuccessful entrepreneurs, found have taken credit support from the MFIs as a regular basis. Analyzing the loan history of last five years it is found that successful entrepreneurs took loan and paid back almost every year and in almost every time loan amount got bigger than that of previous years and sometimes the amount is just double or tripled than the previous years’. On the other hand unsuccessful entrepreneurs had taken one or two time loan within five years period. Continuous credit support helped the entrepreneurs to expand their business further and lack of credit support plays as restriction to growth. Furthermore, credit also helped in continuous capital formation of the enterprises which, consequently, helped in achieving efficiency through increasing economic return on capital, sales, assets and family labor. For some entrepreneur economic return on sales rose to 40% to -80% due to expansion of business and efficiency. Similar picture also found in case of family labor. Almost all the enterprises started with negative return on family labor or alternatively may be called as profit of microenterprises during the inception of the business however, return increased in course of time. It is found that within five years period average profit rose from BDT 4000 to BDT 130000 for some microenterprise. Economic efficiency of the enterprises juxtapose to expansion in size has been experienced by most of the successful enterprises due to capital regular capital support provided from the MFIs.
The table shows the scenario of micro credit by MFI’s in the year of 2016-17.Poverty reduction has been a common concern for the society in general and one of the important visions of the microfinance sector, which can be effectively accelerated by undertaking different social services. The present review has found that a great majority of the NGO- MFIs have been implementing development initiatives under their social services, while a small portion of them are yet to provide such services.