Private sector should pay zakat to sustain social solidarity
It is time the private sector, which has benefited greatly from the UAE's boom, pay its share to sustain the Islamic principle of social solidarity through Zakat, a UAE daily paper said Monday.
''Zakat, when is practised according to the letter of its guides, is a powerful tool to alleviate the suffering of the less fortunate segment of society. For centuries, it helped to prevent class backlashes in many Muslim societies and made sure the poor were not left out in the cold,'' wrote the Gulf News in its daily editorial.
In the UAE, the Dubai-based paper said, the state never failed to deliver to the needy as social security and housing schemes are two ways in which the state helped low income families cope with the amazing rise in the cost of living.
''The Zakat Fund, active for decades in helping poor families, is now planning to get some of its funding from local Islamic banks and finance and insurance companies.
According to a Gulf News report, starting next year those institutions will have to pay 2.5 per cent of their net operating capital to the fund.
''The plan has yet to be approved. But hopefully it will, as it will contribute to the efforts of the state, the paper indicated.
''It is time the private sector, which has benefited greatly from the UAE's boom, pay its share to sustain the Islamic principle of social solidarity. It is the principle upon which just and stable societies are based,''it concluded. WAM
''Zakat, when is practised according to the letter of its guides, is a powerful tool to alleviate the suffering of the less fortunate segment of society. For centuries, it helped to prevent class backlashes in many Muslim societies and made sure the poor were not left out in the cold,'' wrote the Gulf News in its daily editorial.
In the UAE, the Dubai-based paper said, the state never failed to deliver to the needy as social security and housing schemes are two ways in which the state helped low income families cope with the amazing rise in the cost of living.
''The Zakat Fund, active for decades in helping poor families, is now planning to get some of its funding from local Islamic banks and finance and insurance companies.
According to a Gulf News report, starting next year those institutions will have to pay 2.5 per cent of their net operating capital to the fund.
''The plan has yet to be approved. But hopefully it will, as it will contribute to the efforts of the state, the paper indicated.
''It is time the private sector, which has benefited greatly from the UAE's boom, pay its share to sustain the Islamic principle of social solidarity. It is the principle upon which just and stable societies are based,''it concluded. WAM
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