THE ROLE OF ZAKAT IN ESTABLISHMENT OF A MODEL SOCIETY

Abstract

Living in an era of science and technology, we will be no where, if we fail to introduce in the present age, a historically proved, the best Economic system of the world. The west through hard work and struggle has succeeded to entangle to whole humanity in the cruel capitalistic system. The Holy Prophet (PBUH) was the first who introduced quite a different economic system totally based on the welfare of the whole humanity in which, Zakat was the key economic institution. The paper attempts to visualize according to the modern approaches, a few facts of zakat which has far-reaching impacts on all social-culture and political aspects of society. The paper suggests that if zakat system is introduced in its true spirit in a Muslim community, it will surely convert it into an ideal society to be followed by the rest of the world.