Combination of micro-finance with Waqf, Zakat can expedite poverty alleviation
Tuesday, 23 September 2008
FE Report
Micro-finance, combined with Waqf, Sadaqah and Zakat, can bring diversity and dimension in poverty alleviation, which is not possible by the traditional micro credit only.
Combination of micro-finance with Waqf, Sadaqah, Zakat, can bring dimension in poverty alleviation
Speakers said this at a discussion on 'Role of Waqf, Zakat, Usr and micro investment for poverty alleviation' organised by head office, IBTRA, Dhaka North, South and Central zones of Islami Bank Bangladesh Limited (IBBL) held at Institution of Diploma Engineers in the city Saturday.
IBBL Chairman Abu Nasser Muhammad Abduz Zaher was present at the function as chief guest and Muslim Aid UK Country Director H Fadlullah Wilmot was present as the special guest.
IBBL Managing Director M Fariduddin Ahmad Presided over the meeting. The key speech was delivered by IBBL Shari'ah Council Member Mufti Syed Ahmad. Deputy Managing Director Mohammad Shamsul Haque delivered the welcome speech.
Executives, officials and staff of all segments of head office, IBRTA, Dhaka North, South and Central zones of the bank were present at the function.
Abduz Zaher said, in his speech, Waqf, Zakat and Usr had significant role in alleviating poverty in the past. He urged all affluent men including industrialists and businessmen of the society to turn Waqf and Zakat into a concrete movement in order to establish a balanced society.
He called upon the officials to turn all the hands of the beggars into the hands of worker. He said IBBL was established with the aim of changing the lifeless gray leaves into vivacious green ones.
Mominul Islam Patwary said, "We have forgotten the immense importance of Waqf. A plan of mingling Waqf, Sadaqah or Zakat with micro-finance may be chalked out. Then we can bring a wide change and diversity in the field of micro finance with a view to reducing poverty."
H Fadlullah Wilmot, in his speech, viewed that Islami Bank Bangladesh has taken admirable initiatives to establish interest-free investment policy and banking service.
Mufti Syed Ahmad said in the key speech that there are a large number of highly affluent men in our country. It will be worthwhile if they donate a substantial portion of their wealth through Waqf.
He said that Waqf, micro Investment, Zakat and Usr should be reshaped in order to alleviate poverty from the society. For this reason, all citizens of the society including industrialists, businessmen and professionals should come forward with the sense of cooperation.
M Fariduddin Ahmad said in his presidential speech that IBBL has formed Waqf Fund through Mudaraba Waqf Cash Account to change the social status of the distressed people.
The Bank is working to bear the educational expenses of the poor and orphanage and for the welfare of the helpless people with the Zakat fund collected from the affluent people through establishing Islami Bank Foundation.
Besides, the bank is playing its role in reducing poverty through Rural Development Scheme. If micro-finance can be combined with Waqf, Sadaqah, Charity and Zakat, we can bring diversity and change in it, which is not possible by the traditional micro-finance.
Mohammad Shamsul Haque said, in his welcome speech that Ramadan is the symbol of purification, mutual compassion and unity. Ramadan is the ardent instance of the fact that Islam has given dictation to ensure the right of all the people irrespective of race, colour and creed. The glorious month encourage us to achieve peace, fraternity and tolerance.
Micro-finance, combined with Waqf, Sadaqah and Zakat, can bring diversity and dimension in poverty alleviation, which is not possible by the traditional micro credit only.
Combination of micro-finance with Waqf, Sadaqah, Zakat, can bring dimension in poverty alleviation
Speakers said this at a discussion on 'Role of Waqf, Zakat, Usr and micro investment for poverty alleviation' organised by head office, IBTRA, Dhaka North, South and Central zones of Islami Bank Bangladesh Limited (IBBL) held at Institution of Diploma Engineers in the city Saturday.
IBBL Chairman Abu Nasser Muhammad Abduz Zaher was present at the function as chief guest and Muslim Aid UK Country Director H Fadlullah Wilmot was present as the special guest.
IBBL Managing Director M Fariduddin Ahmad Presided over the meeting. The key speech was delivered by IBBL Shari'ah Council Member Mufti Syed Ahmad. Deputy Managing Director Mohammad Shamsul Haque delivered the welcome speech.
Executives, officials and staff of all segments of head office, IBRTA, Dhaka North, South and Central zones of the bank were present at the function.
Abduz Zaher said, in his speech, Waqf, Zakat and Usr had significant role in alleviating poverty in the past. He urged all affluent men including industrialists and businessmen of the society to turn Waqf and Zakat into a concrete movement in order to establish a balanced society.
He called upon the officials to turn all the hands of the beggars into the hands of worker. He said IBBL was established with the aim of changing the lifeless gray leaves into vivacious green ones.
Mominul Islam Patwary said, "We have forgotten the immense importance of Waqf. A plan of mingling Waqf, Sadaqah or Zakat with micro-finance may be chalked out. Then we can bring a wide change and diversity in the field of micro finance with a view to reducing poverty."
H Fadlullah Wilmot, in his speech, viewed that Islami Bank Bangladesh has taken admirable initiatives to establish interest-free investment policy and banking service.
Mufti Syed Ahmad said in the key speech that there are a large number of highly affluent men in our country. It will be worthwhile if they donate a substantial portion of their wealth through Waqf.
He said that Waqf, micro Investment, Zakat and Usr should be reshaped in order to alleviate poverty from the society. For this reason, all citizens of the society including industrialists, businessmen and professionals should come forward with the sense of cooperation.
M Fariduddin Ahmad said in his presidential speech that IBBL has formed Waqf Fund through Mudaraba Waqf Cash Account to change the social status of the distressed people.
The Bank is working to bear the educational expenses of the poor and orphanage and for the welfare of the helpless people with the Zakat fund collected from the affluent people through establishing Islami Bank Foundation.
Besides, the bank is playing its role in reducing poverty through Rural Development Scheme. If micro-finance can be combined with Waqf, Sadaqah, Charity and Zakat, we can bring diversity and change in it, which is not possible by the traditional micro-finance.
Mohammad Shamsul Haque said, in his welcome speech that Ramadan is the symbol of purification, mutual compassion and unity. Ramadan is the ardent instance of the fact that Islam has given dictation to ensure the right of all the people irrespective of race, colour and creed. The glorious month encourage us to achieve peace, fraternity and tolerance.