Question

Question

What kind of programs and activities do you propose for poverty eradication in your hometown? Please relate to Islamic financial economics.

Answer 1

Poverty is a major factor which acts as a hindrance in development and growth of any country. In order to follow a growth trajectory, every country should aim at eradication of poverty.

• Education can lead to a fall in the level of poverty in any country.
• Also, investing in health care sectors plays a major because education and health, together make the human capital.  
• Providing access to basic needs such as safe drinking water, electricity, food and shelter.

According to Islamic financial economics, some programs which could be used for poverty eradication are as follows:

• It aims to expand the reach of Islamic microfinance to the ones in need of money.
• Small Business Finance Corporation has been set up to reduce and eradicate poverty.

Such initiatives are helping to reduce poverty but at a slower rate.