THE ROLE OF ISLAMIC SOCIAL FINANCE IN EMPOWERING YOUTH AND WOMEN IN SOKOTO STATE OF NIGERIA

  • Aliyu Dahiru Muhammad International Institute of Islamic Banking and Finance, Bayero University, Kano, Nigeria https://orcid.org/0000-0002-4766-2883
  • Muhammad Lawal Maidoki Sokoto State Zakat and Endowment Commission, Sokoto, Nigeria
  • Usman Buhari Sani Rima Radio, Sokoto Sate, Nigeria
Keywords: Islamic Social Finance, Zakat, Waqf, Empowerment, Sokoto

Abstract

Islamic Social finance is an emerging area of study and practice, different from commercial finance. It concerns about financing members of the community or country for socio-economic development. However, it faces the challenge of sustainability either due to legal or regulatory framework or due to lack of awareness among members of the society. The history of Islamic social finance in Nigeria connects back to the revivalism of Islam through Shehu Uthman Bin Fodio in 1804. Recently, with the establishment of Zakat and Endowment Committee in Sokoto in 2007, there was an increasing awareness and practice in the contemporary Islamic Social Finance, especially when the Government converts the Committee into Commission in 2016 which makes it independence to initiate and execute its policies. The objective of this paper is to examine two of its recently executed projects vis-à-vis Youth and Women Empowerment programs. The study uses qualitative technique for data collection and analysis. Two focus group sessions were conducted with the Youth and Women entrepreneurs who benefitted from the empowerment programs by the SZEC. The study finds that the Youth have been able to harness their potentials by expanding their businesses and upgrading the quality of their products and services such as shoe repair due the skills acquired in the training. Moreover, the women have improved their welfare and that of their children to an unprecedented level. They were able to maintain their chosen business as livelihood of income. However, they reveal that, marketing of their finished products is the major challenge they face.

Author Biographies

Aliyu Dahiru Muhammad, International Institute of Islamic Banking and Finance, Bayero University, Kano, Nigeria

Deputy Director, International Institute of Islamic Banking and Finance, Bayero University, Kano, Nigeria

Scopus ID: 55660653100

Muhammad Lawal Maidoki, Sokoto State Zakat and Endowment Commission, Sokoto, Nigeria

Chairman, Sokoto State Zakat and Endowment Commission, Sokoto, Nigeria

Usman Buhari Sani, Rima Radio, Sokoto Sate, Nigeria

Director, Rima Radio, Sokoto Sate, Nigeria

References

Dogarawa, A. B. (2009). Poverty Alleviaton through Zakah and Waqf Institutions: A Case for the Muslim Ummah in Ghana.

Islamic Social Finance Report (2014). Islamic Research and Training Institute, Islamic Development Bank, Jeddah.

Islamic Social Finance Report (2015). Islamic Research and Training Institute, Islamic Development Bank, Jeddah.

Khalil, I. Yunus, A. Shaiban, M. (2014). Proceeding of the International Conference on Masjid, Zakat and Waqf (IMAF 2014), Kuala Lumpur, Malaysia.

Maidoki, L. (2016). The Role of Zakat on the fulfillment of Basic Needs of the Poor: A Case of Sokoto State Zakat Commission, a Paper presented at South African National Zakat Foundation, Cape Town.

Maidoki, L. Sani, U. (2016). Management of Zakat and Endowment to Empower the needies in Nigeria, Reflection on the activities of Sokoto State of Nigeria Zakat and Endowment Committee from 2012-2015, Report in the Study Tour, SZEC.

Momin, A. (2017). Introduction to Sociology: An Islamic perspective, Institute of Objective Studies, New Delhi, India.

Muhammad, A. Abba, S. Dandago, K. (2017). Juristic Views on Zakah on Amwaalul Mustafaad for Poverty Reduction in Kano State, Nigeria. Paper presented at the 3rd International Conference on Islamic Banking and Finance, Bayero University Kano, January 19 -21, 2017.

NBS Annual Abstract of Statistics (2011). National Bureau of Statistics, Abuja, Nigeria.

Omar, A. (2015) Foreword, Islamic Social Finance Report, published by Islamic Research and Training Institute, Islamic Development Bank, Jeddah.

Rahman, A. (1990). Economic Doctrines of Islam, Vol. 1, Islamic Publication Ltd, Lahore, Pakistan.

Saleem, A. (2015). The role of Islamic social financing in humanitarian action, World Humanitarian Summit Blog, http://blog.worldhumanitariansummit.org/entries/the-role-of-islamic-social-financing-in-humanitarian-action/

Sokoto, Abdullahi (2014). Intellectual Foundation of Sokoto Caliphate, Scholarship, Faith, Revolution and Building of an Empire, Usman Danfodio University Press.

SSZEC (2016). Prompt Interventions: Annual Report on the Activities and Events of Sokoto State Zakat an Endowment Committee.

Yusoff, M. B. (2010). An Analysis of Zakat Expenditure and Real Output: Theory and Evidence. International Journal of Economics, Management and Accounting, 18(2), 139.
Published
2018-05-31
How to Cite
Muhammad, A., Maidoki, M., & Sani, U. (2018). THE ROLE OF ISLAMIC SOCIAL FINANCE IN EMPOWERING YOUTH AND WOMEN IN SOKOTO STATE OF NIGERIA. Journal of Islamic Monetary Economics and Finance, 3, 141 - 152. https://doi.org/10.21098/jimf.v3i0.911
Section
Articles