Objectives of Islamic finance - zakat and endowment as a model

Abstract

At the present time, humanity is facing poverty and unemployment, which are considered to be the biggest problems that affect more than one billion people in the world, and the concept of poverty has expanded to include those with limited income who are unable to achieve the minimum level of well-being required. Contemporary applications related to Islamic financing for the sake of the noble purposes of the individual and the community. As the state of the state is unable to respond to all the needs of the citizens, which calls for finding alternative sources of funding to contribute to the reduction of the burden of social services on the general budget of the state. One of the most prominent of these applications is zakat and endowment, and the attempt to expand the range of those who are entitled to them, including those with limited income who do not have enough income, whether they are employed or not.