Su­danese, S/African pay more Zakah than Nige­ri­ans – Re­port

Daily Trust - - FRONT PAGE - By Hamisu Muham­mad

Nige­ria is be­hind Su­dan and South Africa in Zakah col­lec­tion in 2013, a re­port by the Is­lamic Re­search and Train­ing In­sti­tute (IRTI) of the Is­lamic De­vel­op­ment Bank Group yes­ter­day re­vealed.

IRTI re­leased the re­port dur­ing a con­fer­ence on “Awqaf, Zakah and Eth­i­cal Mi­cro­fi­nance as tools for Em­pow­er­ment”, or­ga­nized by the South African Na­tional Zakah Fund (SAN­ZAF) in Pre­to­ria, South Africa.

The re­port which was the sec­ond edi­tion in the se­ries es­ti­mated the an­nual zakah po­ten­tial in Su­dan, Nige­ria and South Africa at about USD 1,843.51 mil­lion, (N362 bil­lion) USD 8,776.45 (N1.7 tril­lion) and USD 178.87 mil­lion (N35 bil­lion) re­spec­tively.

How­ever, the ac­tual col­lec­tion in 2013 was USD 220 mil­lion, (N43 bil­lion) USD 3 mil­lion (N591 mil­lion) and USD 100 mil­lion (N19.7 bil­lion) re­spec­tively.

This edi­tion of the ISFR fo­cuses on the Sub-Sa­ha­ran Africa, out­lin­ing the re­gional trends and prospects as well as propos­ing pol­icy rec­om­men­da­tions for the Is­lamic so­cial fi­nance sec­tor, which in­cludes zakah, waqf and Is­lamic mi­cro­fi­nance.

It an­a­lyzed the reg­u­la­tory en­vi­ron­ments and prac­tices in six se­lected coun­tries namely, Su­dan, Nige­ria, Kenya, Mau­ri­tius, South Africa and Tan­za­nia.

Find­ings show that Su­dan, Nige­ria and South Africa can eas­ily gen­er­ate ad­e­quate resources for poverty al­le­vi­a­tion through zakah, while Is­lamic so­cial fi­nance also has great po­ten­tial for curb­ing poverty in the three other coun­tries stud­ied.

Key rec­om­men­da­tions in­clude en­hanc­ing the le­gal frame­works for Is­lamic so­cial fi­nance; in­sti­tu­tion­al­iz­ing zakah col­lec­tion and dis­tri­bu­tion; of­fer­ing unique mi­cro­fi­nance prod­ucts for small­holder farm­ers; and al­low­ing waqf cre­ation by non-Mus­lims.

In his com­ments on the re­port, IRTI Di­rec­tor Gen­eral, Prof. Mo­hamed Azmi Omar said, “By fo­cus­ing on Sub­Sa­ha­ran Africa, we hope that this is­sue of the ISFR will sat­isfy a long-felt need for ad­e­quate and rel­e­vant in­for­ma­tion that will help to­wards in­sti­tut­ing an en­abling en­vi­ron­ment for the Is­lamic so­cial fi­nance sec­tor in the re­gion.”

Dr. Mo­hammed Obaidul­lah, who is the leader of the IRTI team that pro­duced the re­port, rep­re­sented the DG at the launch­ing.

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