By Akeem Kolawole Odeduntan & Tajudeen Adetokunbo Oni
Abstract
The emphasis of Islamic finance has been continually laid on public interest which is believed to have had long lasting positive impact not only on socio-economic wellbeing but also on day-to-day affairs. The present paper seeks to bring to light institutions Islam puts in place to strengthen our social interaction thereby preventing socio-economic unrest, poverty, violence, terrorism and insurgency. The paper adopts a qualitative research approach to examining theoretically Islamic social finance in the perspective of communal oriented institutions such as Zakat and Waqf. Being a library-based research, the paper specifically applies the content analysis method to unravel the social values and goals of Islamic finance. The exploratory study on the subject matter was carried out by reviewing and analysing relevant literature. The outcome of this paper revealed that Islamic social finance remains one of the viable options of restoring peace and tranquility to the world system.
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