Zakir Naik – How to Improve the Economic Situation of the Underprivileged

The third part of the question is economic

challenges.

Dr Zakir Naik, what guidance does Islam provide

for addressing economic inequality and poverty in Bangladesh?

How can Islamic principles be applied to improve

the economic situation of the underprivileged in Bangladesh?

The third pillar of Islam, it is Zakat.

The first is Tawheed, second is Salah, third

is Zakat.

And according to the third pillar of Islam

that is Zakat, every rich Muslim who has

a saving of more than the Nisab level,

has a saving of more than 85 grams

of gold, he or she should give 2

.5% of that saving in charity.

It's compulsory Zakat every year, every lunar year.

So in this system, what Islam proposes is

there should be a Baitul Maal or a

Zakat Baitul Maal.

That means Zakat of the full community, of

the full country collected and then if it's

under one entity, under one banner, it will

be more powerful, it will be more effective.

So if you put your Zakat into Baitul

Maal and the economic system is such that

if you put into Baitul Maal, that Baitul

Maal can support various activities.

If it's a centralized Baitul Maal, the amount

collected would be huge and then you can

decide whether you should renovate or you should

make a new complex, where should you invest.

So if the Baitul Maal is big, it

can help the Muslim Ummah and achieve Zakat.

The Qur'an says in Surah Hashar, Chapter

15, Verse 7, it prevents the wealth from

circulating only amongst the rich.

And as far as economy is concerned, Allah

has told us in several places, including Surah

Baqarah, that Muslims should not deal in Rabwah

and interest.

Today, unfortunately, the full world economy is controlled

by Rabwah and therefore, the power of economy

is in the hands of few Jews who

control the banks of the world.

So Islam is against interest-based banking.

Islam is against doing business on interest.

Rabwah is prohibited.

But there is an Islamic alternative, which is

called a Sharia-compliant bank.

And these Sharia-compliant investments etc., we have

to see to it that if we follow

these principles, the economy will be stable.

And the currency also will be powerful.

So follow Qur'an and Sunnah, follow the

economic system, follow the Sharia-compliancy, and Inshallah,

that would be helpful for the country of

Bangladesh.