Al-Qaradaghi: Global Zakat Worth $3tr+
Professor Dr Ali Al-Qaradaghi; One of the most prominent scholars of Islamic Finance in the world today. It is his research and study on Zakat that I find the most interesting and inspirational - he regards Zakat as a 'system of miracle' and estimates its annual worth at a staggering ‘$3.375 trillion worldwide.’ Suggesting if it is collected, managed and distributed effectively it would be enough to solve the greatest problems in the world and it will ensure that poverty would not remain on the face of the earth.
He currently holds the following positions:
• Professor of Islamic Jurisprudence at Qatar University
• President of Shari'a Supervisory Board for the Qatar First Bank and an Executive Member of Shari’a Supervisory Board for many Islamic banks and financial companies across the world
• Vice-President of the European Council for Fatwa
• Member of International Islamic Fiqh Academy and Organisation of Islamic Cooperation
He has also won many awards and honours for his scholarly contributions having authored over 30 books and 100 academic papers.
He currently holds the following positions:
• Professor of Islamic Jurisprudence at Qatar University
• President of Shari'a Supervisory Board for the Qatar First Bank and an Executive Member of Shari’a Supervisory Board for many Islamic banks and financial companies across the world
• Vice-President of the European Council for Fatwa
• Member of International Islamic Fiqh Academy and Organisation of Islamic Cooperation
He has also won many awards and honours for his scholarly contributions having authored over 30 books and 100 academic papers.
One of the most valuable contributions in the area of Zakat over the last couple of decades is the encyclopaedic book of over 750-pages - "Fiqh Al-Zakat: A Comparative Study - The Rules, Regulations, and Philosophy of Zakat" by the globally-renowned scholar Dr Yusuf Al-Qaradawi in 1999.
I read it a few years ago when a close friend and teacher gave me his copy. It was one of the main references in my research dissertation and inspired me to get involved in Zakat. I have since then researched contemporary matters of Zakat across the globe extensively; whilst remaining firm to the classical sources, Alhamdulillah.
Although the annual worth of Zakat is estimated at $1 trillion worldwide; we struggle to complement it with the level of social impact it truly has the potential for. And now more than ever, we need to resolve the major challenges in Zakat going forward In’sha’Allah. Therefore, I am developing a new multifaceted approach with the aim to achieve the vision of Zakat.
I read it a few years ago when a close friend and teacher gave me his copy. It was one of the main references in my research dissertation and inspired me to get involved in Zakat. I have since then researched contemporary matters of Zakat across the globe extensively; whilst remaining firm to the classical sources, Alhamdulillah.
Although the annual worth of Zakat is estimated at $1 trillion worldwide; we struggle to complement it with the level of social impact it truly has the potential for. And now more than ever, we need to resolve the major challenges in Zakat going forward In’sha’Allah. Therefore, I am developing a new multifaceted approach with the aim to achieve the vision of Zakat.
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