Channelizing The Zakat of Islamic Banks Profits Towards Islamic Microfinance Institutions: A Case of Pakistan
Keywords:zakat, Islamic banks profits, Islamic Microfinance, Pakistan
The study proposes a modified microfinance model for Islamic banks (IBs) existing in Pakistan under worldwide accepted Shariah practice. The study is based on an in-depth review of microfinance literature with the ultimate objective of establishing a rationale model for Islamic banking to take part in a microfinance effort. The suggested framework contributes to the scant literature on Islamic microfinance in Pakistan and offers IBs beneficial implications for enhancing their social responsibility duties, promoting the financial inclusion of people with low incomes, and contributing to mainstream economic activities.
How to Cite
Copyright (c) 2023 Mushtaq Ahmed, Zaki Ahmad, Mohammad Ashraf Al Haq
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.