POVERTY....

Poverty is treated as WMD (weapon of mass destruction) of modern world. Eradication of it bears very importance. The economic systems like capitalism and communism have presented a number of instruments for the alleviation of the poverty from the world. But, these extreme ideologies failed to satisfy the need of the people. Private ownership of property, laissez-faire policy of capitalism and class war, dialectical materialism, state ownership of property of communism did not touch the real cause of poverty. This situation necessitates seeking the possibilities of Islamic economics in alleviating poverty. The aim of poverty alleviation can be attained, in an Islamic Economic system through reducing the inequality. It never means attaining equality but equity and justice in the income and wealth distribution. Islam eliminates the absolute inequality which arises from unequal distribution of income, but relative inequality emerges from equitable distribution of income and wealth.

Evil of any economy is poverty. The presence of begging hands in an economy pulls that economy into decades back. Poverty amidst plenty is the challenge faced in the modern world. Impact of the poverty cannot be confined to starvation only, but poor people, apart from starvation, suffering limited income which leads to inaccessibility of good education. Every country and international organizations like World Trade Organization, World Bank and Asian Development Bank hard work to construct the countries and world on the foots of self sufficiency respectively. Mission of the World Bank is described as global poverty reduction and improvement of living standards. General Council of UN has declared October 17 as International day for the eradication of poverty. It shows how seriously they took poverty as a problem

But, it is wondering that out of 6.1 billion world population more than 1 billion are finding their livelihood in less than $1 per day and almost 3 billion on less than $2 per day. You might be provoked that 74% of total income of world is shared by the 20% of the elite class of the world. It is disheartening to know that there are countries whose national income is less $800 and mortality rate of children below five years old is about 26%. It is worrying that 110 million primary school age children are out of school and 60 % of them are girls.