Unlocking full potential of Zakat in Bangladesh

As a Muslim-majority country, Bangladesh has the potential to collect a significant amount of Zakat every year. Unfortunately, the full benefits of this potential are not reflected in society.

Due to the lack of proper planning, inadequate management, and poor coordination, the true objectives of Zakat are often not fully achieved.

It is essential to establish a well-organized and institutionalized Zakat management system. At present, most Zakat is distributed individually or in a scattered manner.

As a result, the truly poor are sometimes deprived, while the same individuals may receive assistance from multiple sources.

If a strong and transparent Zakat management framework can be developed at the national level and its effective implementation ensured at the local level, Zakat can play a major role in social welfare.

Islamic banks and financial institutions can also be more actively involved in Zakat management.

By utilizing their financial expertise and institutional infrastructure, Zakat-based poverty alleviation programs can be implemented more effectively.

One important point should be mentioned here: Zakat does not only apply to cash wealth.

Agricultural produce, livestock, and other forms of wealth also have Zakat obligations under different names.

However, most people in Bangladesh do not pay these due to lack of knowledge and public awareness.

In reality, there is very little government or non-government initiative to promote awareness in this area.

If large-scale awareness campaigns are conducted, a significant amount of Zakat – beyond cash, gold, and silver – could be collected in the form of Ushr and other types of obligatory charitable dues.

These resources could play a major role in poverty alleviation, employment generation, and helping indebted individuals become free from debt.

(The writer is an Islamic economist and social thinker).