Abstract. This Study seeks to adapt the framework practiced by various MDBs particularly international Development Association (IDA) to the potential establishment of GobalWaqf fund as this framework is proven to be effective. The framework revolves around the IDA operations with replenishments, allocation of funds by implementing specific formulas and the determination approach which is mainly to monitor effectiveness of the earlier processes. Apart from this framework, it is suggested that a good governance system also plays a vital role in the raising and managing of the global waqf funds. This research is purely qualitative in nature by studying the mechanisms used in IDA and other MDBs and drawing their examples and experiences. The lessons learnt are meant to complement further the fundamentals of Waqf. This study finally proposes indicators that integrate with the targets of an Islamic vision of development, which could facilitate the allocation of funds. The steps to raise funds for global waqf fund are also proposed with the objective of creating more effective approach for raising of funds for a global Waqf fund.
Micro finance can be defined as varied fiscal or monetary products that microfinance institutions offer to their consumers. Micro financing is heterogeneous. It may be different in cases and it may be offered by way of micro loans, micro insurance schemes or micro savings. However, this is not new and the world saw its beginning in 1970’s with the practice of social businessmen lending money on a large scale to poor workers. At the same time the world also noted that poor workers are getting benefited in such practices of micro financing. For example, the year 2006 Nobel peace prize laureate professor MuhammedYunus demonstrated the ability of the poor people to pull themselves out of the poverty credited to micro finance. Further, in his rewarding work professor Yunus showed how productive those loans made available to poor working people are, if they utilized such financial capital properly in a structured manner. Contrary to popular fears that poor people are entrapped in such loan schemes, the outstanding work of professor Yunus evidently showed that working poor class has high potentials to pay back their loans and thus receiving the attention of profit seeking investors to invest on micro financing for mutually beneficial business( investopia,2010).
Apart from the direct policies, povertyalleviation strategies can also be applied based on an indirect approach. An indirect type of policy involves adopting policies that would provide compatible structure of incentives and promote efficiency in resource allocation. Unlike the direct type of policy where the aid is directed to the poor and the ones in need, indirect policy is target neutral. The effect of this type of policy may not necessarily benefit only the target group but also other parts of the community. Among examples of indirect povertyalleviation policies are ensuring a greater availability of land to the poor, creating productive employment opportunities and ensuring the accessibility of the poor to social services. 47
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-economic development 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.
responsible and sustainable tourism development and can thus serve as an instrument to help achieve the Millennium Development Goals (MDGs) - an agreed set of eight goals adopted by world leaders in 2000 that aims to tackle the world’s major development challenges by 2015 (UNDP, 2011a). The UNWTO (UN World Tourism Organization) has stated, for example: “Tourism, one of the world’s top job creators and a lead export sector, especially for developing countries, can play a significant role in the achievement of MDG1 – eradication of poverty, MDG3 – gender equality, MDG7 – environmental sustainability and MDG8 – global partnerships for development. Responsible and sustainable tourism allows destinations and companies to minimize the negative impacts of tourism on the environment and on cultural heritage while maximizing its economic and social benefits.” It is assumed that poverty can be reduced when tourism creates employment and diversified livelihood opportunities, which provides additional income. Moreover, tourism can contribute to direct taxation and by generating taxable economic growth, since taxes can then be used to alleviate poverty through education, health and infrastructure development. Over the last decade, international, government, non-governmental and private sector organizations have given increasing attention to the argument that tourism can be made a viable tool to alleviate poverty.
In summary, the e-choupal model shows two things. The first is that poor farmers will take initiatives in a market that delivers direct benefits. The combination of access to a reengineered market through information technology has generated a groundswell of economic and social opportunities. The second is that improving ‘market freedom’ can improve freedom generally. The e-choupal project has led to what Amartya Sen 2000: 27) has called ‘comprehensive outcomes’. In Sen’s terms ‘comprehensive outcomes, go beyond ‘culmination outcomes.’ ‘Culmination outcomes’ refer to final results without addressing how they are achieved; more usefully ‘comprehensive outcomes’ take into account the processes used to achieve results. The processes supporting e-choupal start with the acquisition of farm produce but then provide an extended menu of opportunities not only for the Indian Tobacco Company but for farmers, their families and communities.
A few studies have also been conducted to quantify the impact of microfinance on povertyalleviation. Hulme and Mosley (1996), for instance, based on the counter factual combined approach, analyzed the impact of microfinance on povertyalleviation using sample data for Indonesia, India, Bangladesh and Sri Lanka and found that growth of income of borrowers always exceeds that of control group and that increase in borrowers income was larger for better-off borrowers. Similarly MkNelly et al. (1996) found positive benefits for the borrowers. Khandker (1998), based on double difference comparison between eligible and ineligible households and between program and control villages, focusing on Grameen, Bangaladesh and Bangaldesh Rural Advancement Committee (BRAC), found that microcredit alleviated poverty up to 5 percent annually. Furthermore, it was found that a loan of 100 taka to a female borrower, after it is repaid, allows a net consumption increase of 18 taka. For Thailand village banks, Coleman (1999), using the same approach as that of Khandker (1998), found no evidence of any impact of micro finance. Another study by Coleman (2004), found that programs are not reaching the poor as much as they reach relatively wealthy people. Khandker (2003), found that microfinance helps to reduce extreme poverty much more than moderate poverty, i.e. 18 percentage points as compared with 8.5 percentage points over seven years. Welfare impact is also positive for all households, including non-participants, as there were spillover effects.
General Secretary Xi Jinping’s idea of Precision povertyalleviation is the inhe- ritance and innovation of Marxist povertyalleviation theory. Since the founding of new China, China has attached great importance to poverty reduction. The development history of China’s socialist construction is, in essence, the history of eliminating poverty, improving people’s livelihood and achieving common prosperity. From 1949 to 1978 on poverty reduction the exploration of the road, or in the mid-1980s began to implement the seven-year priority poverty allevia- tion program (1994-2000), and “China’s rural povertyalleviation and develop- ment program (2001-2010)” and “China’s rural povertyalleviation and devel- opment program (2011-2020)”, the implementation plan of mass poverty, po- verty alleviation and development has been accompanied by China’s socialist construction and reform and opening up. By 2014, we had lifted more than 600 million people out of poverty, becoming the first country in the world to achieve the UN millennium development goals and halve the number of people living in poverty. However, by the end of 2014, there were still over 70 million people living in poverty. At present, China’s povertyalleviation and development has shifted from solving the problem of food and clothing as the main task to conso- lidating the fruits of food and clothing, speeding up povertyalleviation and be- coming rich, improving the ecological environment, enhancing the ability of development, narrowing the development gap, and entering a new stage of well-off life in an all-round way. At present, we are still faced with the arduous task of povertyalleviation and development.
In 1891, Pope Leo XIII in his social encyclical Rerum Novarum on the ‘condition of labour’ affirmed that the church’s desire is that the poor should rise above poverty and wretchedness, and should better their condition in life (1891:par. 23). Pope Pius XI in his Quagragesimo Anno (1931) stated the need to pay workers just wages, which are for him a family wage. In view of this, he proposed a social order built on social justice and charity as a panacea for poverty in the world (par. 59). The Mater et Magistra (1961) was written by Pope John XXIII against the indifference of wealthy nations on the hunger, misery and poverty of nations whose citizens are unable to enjoy even elementary human rights. It stresses the solidarity that binds human beings together as members of a common family (par. 157). The same concern was also raised in Pope Paul VI’s Populorum Progressio ‘Development of the peoples’ (1967). The Pope pointed at the threatening world poverty (no. 29) and argued that it is as a result of unjust economic relationships between rich and poor countries (no. 57) and new forms of colonialism and economic manipulation (no. 52). The Pope advocated for solidarity among nations (no. 13) and maintained that the new name for development is peace (no. 76). The apostolic exhortation Evangelii Nuntiandi (1975) by Pope Paul VI states that evangelisation will be incomplete if it did not take account of the unceasing interplay of the gospel and people’s social lives, both personal and social. He notes that evangelisation will not be complete without care of the poor. This implies that caring for the poor is very important in the social teaching of the Catholic Church. With the papacy of Pope John Paul II, the world witnesses a vibrant approach to the issue of world poverty. In 1981, he wrote the encyclical Laborem Exercens on ‘Human Work’, reiterating the church’s concern for the poor, the evil of unemployment, dehumanising social structures and just wage. For him, work and just wage are crucial in human life and in maintaining social imbalance (par. 3). The Pope affirmed that the nature of humanity is to work, because work confers dignity on humans (par. 6). He proposed ‘worker solidarity’ as a panacea against workers’ exploitation and injustice in society. In another encyclical, Sollicitudo rei socialis [the social concerns of the church] (1988), the Pope decried the bastardisation of the world into different categories of first, second and third worlds (art. 14). While lamenting over the overwhelming poverty in the poor countries, he recommended that developing nations should take their fate in their hands and collaborate with each other without violence (art. 39). Though he sought the help of the rich nations, he maintained that the poor nations should not wait for this help that may not come (art. 44).
Decomposition of income in the region shows that forestry had the least contribution to average income per person. However, this scenario was due to non-monetization of non-timber forest products (NTFPs), most of which were consumed locally. The effect of forest income on poverty indices is critical in understanding the contribution of forests in alleviating poverty in the area. The findings showed a marked difference in poverty indices between those respondents with forestry income and those without. 62.2% of those households dependent on forestry income fall below the poverty line compared to 86.2% in those households not relying on it as reflected by the head count indices. Similarly, the poverty gap indices for the two categories of households were 0.571 and 0.701 respectively. There was also marked differences in FGT indices, which were 0.292 and 0.453 for respondents with forestry income and those without it. This fact demonstrated that forests accorded poor people an extra opportunity to generate income. The analysis tended to suggest that income from forestry has a positive effect on selected poverty indices, and therefore was a useful resource in alleviating poverty. When household incomes were disaggregated, it was observed that most of the respondents with high income from regular sources (dairy, agriculture) were the same ones earning some income from forestry. This scenario implied that in order to generate income from forestry, it required one to have adequate capital to be able to invest in this sub-sector. This may be explained by the fact that timber, which was the product traded in the area, needed sufficient starting capital which was supplied from other regular sources. There, therefore, existed some relationship between the various sources of income and forestry. Forest income was only useful in supplementing household income. This may be justified further by the fact that among the surveyed respondents, none was solely relying on forestry income for livelihood. It is however important to note that the above indices might have
Indian retail sector is witnessing dynamic changes over the years. With a steady growth rate of 50- 60% online retail can make significant contribution to retail industry and economy of our country. In modern scenario, e-Retailing or online shopping has become part and parcel of the people in India. The new wave of consumerism coupled with urbanization with paradigm shifts in the demographic and psychographic dynamics have driven consumers frequently to use retail website to search for product information and make a purchase of products. There are several things have been discussed to consider when e-retailing start, This present paper makes an attempt to: deals with the challenges occurring in the e- retailing, opportunities in Indian scenario, the strategies that are being followed in present scenario in e-retailing. e-retailing in India can be a success at the same time we measure so many valuable things like
15 fishing vessels, 20 fishing vessels, 143 other products and inland waterway vehicles ..., has delivered 178/254 products Gross profit of the corporation is more than 1,000 billion VND. Although the shipbuilding market in the country as well as the world is going through the quietest periods, the number of new shipbuilding and repairing is seriously reduced due to the impact of the world economy, but there are still many opportunities to accumulate. Pole for Vietnam's shipbuilding market. With the available potentials and especially the policy from the government through the strategy of sustainable development of Vietnam's marine economy to 2030, the vision to 2045 is opening Vietnam many opportunities for market development. Domestic as well as expanding cooperation with shipbuilding powers in the world. According to statistical reports, Vietnam currently has about 120 shipbuilding and repairing factories with a tonnage of over 1,000 tons, with 170 lifting and lowering works. The total design capacity of the plants is about 2.6 million tons / year, but the actual capacity is only 800,000 - 1 million tons / year. Since 2002, Vietnam's shipbuilding industry has been investing heavily. However, it is only in the process of receiving transfer from major shipbuilding centers in Asia. The overall picture of the shipbuilding industry is as follows: Vinashin, established in 2006, is now the Shipbuilding Industry Corporation - SBIC, which plays a key role. Sadly, however, the collapse of Vinashin has caused the shipbuilding industry and many of its workers or other shipyards to cancel applications and fall into misery.
The approach towards povertyalleviation is based on the formation of self-help groups at the grass root level. This brings about the necessity for organizing them in a group by which they set the benefit of collective perception, collective decision-making and collective implementation of programme for common benefits. This organization holds the power and provides strength and acts as an anti dote to the helplessness of the poor. The group saving of self helps groups serve a wide range of objectives other than immediate investment. The approach has evolved over the years in India. Before understanding the strength of SHGs as a tool in PovertyAlleviation, it is imperative to understand the evolution of various PovertyAlleviation programs in India.
To investigate how sustainable procurement can be used as a catalyst for poverty reduction, data sources used for the study is consistent with studies of (Cepparulo, Cuestas, & Intartaglia, 2017; Cherif, 2008; Dhrifi, 2015): (i) the world bank development indicators (ii) the data market variables; (iii) the International Monetary Fund data base. In this study, poverty (POV) is measured by household consumption expenditure in 3 African countries. GDPPC which is always used to measure economic growth as indicated by (Dollar &Kraay, 2002), inflation proxied by the consumer price index which goes consistent with (Jeanneney & Kpodar, 2011). Labor force as the totality of employees available for employment which is in line with that of (Appiah, Amoasi, & Frowne, 2019). Finally, sustainable procurement proxies as government expenditure GOEx as used by (Bugri, Michael, & Arthur, 2019).
Even where the poor have benefited from economic growth, the rich have typically benefited more. Over the last decades income inequality and inequities have risen across the world. A more equitable distribution of goods and services (or income) can help to counteract this trend. However, there are social and economic limits to redistribution. What is an acceptable social consensus in the Nordic countries of Europe, for example, is hardly a feasible consensus in the United States of America. Furthermore, while even the poorest countries can and should encourage more equitable distribution, distri- bution there will also confront economic limits. 3 On the one hand they have the highest poverty incidences, which call for large social transfers, but on the other they have limited economic resources to match the needs. In 2010, Eritrea’s GDP, adjusted for purchasing power parities, amounted to only 1.3 dollars per person per day. In the same year and by the same measure, every person would have had only 3.1 dollars a day in the low-income countries, on average. 4 This is too little to ensure access to essential goods and services, and material wellbeing.
intended to reach the poorest household first in order to strengthen the weakest segments of the society. It was a multi-level, multi-sector and multi-section program which was started at all levels i.e. Village, Block and District. In term of multi sector concept it included development of various sector of rural economy such as agriculture, industry, economic infrastructure and many social services. Finally in the perspective of multi-sections program it aimed at to combat the rural poverty including the small and marginal farmers, artisans, landless labourers, schedule caste and schedule tribes in rural India. Indira Awas Yojana (IAY): This
instability in its availability and un-affordability by consumers, could be fought by effective use and production of sweet potato. The conductive climate in Nasarawa State which allows for three cycles of sweet potato production in a year makes sweet potato highest yielding tuber crop if adequate attention is focused on research. The high nutrients content of sweet potato is an added advantage in food security. The Sweet Potato Research Programme has been playing the leading role in sweet potato research and in expanding sweet potato production to new frontiers. Sweet potato from the last decade experienced a remarkable increase because of its activities as food security crop. For sweet potato crop to play more roles in food security and povertyalleviation in Nigeria,if well manage could boost the nation economic and reduce poverty. Sweet potato production, processing and marketing are still at subsistence level.
used to provide infrastructure and basic services in poor parts of the country. The existence of externalities also supports a larger role for central government in redistribution and poverty reduction (Rao undated). For example, the benefits of poverty reduction programmes may spill over from one jurisdiction to another. Such externalities do not pose any problem for central government, as the entire country is its jurisdiction. Local governments can face the problem of a shifting of the tax base. In other words, if a local government imposes heavy taxes for redistributive purposes, taxpayers can move to other parts of the country where local taxes are low. Therefore, a local government may not be able to achieve its desired objective. While the role of local government in generating revenue for redistribution may be limited, local governments have certain advantages in designing and implementing poverty reduction programmes. As discussed earlier, because of their close proximity to the poor, local governments can design poverty reduction programmes according to actual needs.
Abstract—Balochistan is the mineral rich province of Pakistan. It is largest province in terms of area, but not in terms population. Its population remained low because of its arid landscape and shortage of water. The current census shows its population growth rate was highest during last 19 year as compare to whole Pakistan and other provinces. It is a good sign. Now with the population growth it is also going on a way to prosperity with the development of Gwadar port and CPEC. Still there are many challenges to cope for the smooth and sustainable development of Balochistan. As well as there are many opportunities to boost the economy of Balochistan.