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Research Paper | Economics | India | Volume 13 Issue 11, November 2024 | Popularity: 4 / 10

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The Impact of Zakah, Interest, Inflation, and Taxation on Muslims Living in Non - Islamic Countries

Dr. Masood Ahmed

Abstract: This research aims to explore the economic challenges faced by Muslims residing in non - Islamic countries, with a focus on the Indian Muslim population as a case study. The study investigates the difficulties Muslims encounter in adhering to both national tax laws and Islamic Sharia principles. Specifically, it examines the practice and regulation of Zakah in non - Islamic countries, considering its interplay with inflation, interest rates, and taxation. The analysis highlights that the lack of viable Sharia - compliant investments, inflationary pressures, and the prohibition of accepting interest create significant financial burdens for devout Muslims. It emphasizes that bridging this gap requires collaboration among Islamic scholars, economists, and financial experts to design systems that uphold religious principles while ensuring economic stability and growth.

Keywords: Interest, Inflation, Taxation, Zakah, Poverty

Edition: Volume 13 Issue 11, November 2024

Pages: 1648 - 1653

DOI: https://www.doi.org/10.21275/SR241127090727

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