The Impact of Zakāh and Ribā on Society
A Comparative Study
Abstract
This paper discusses how zakāh and ribā affect society both economically and spiritually. The former elevates the financial level of its members by helping them circulate wealth amongst the whole society, while the latter concentrates wealth amongst the rich. Using the descriptive and deductive methods and evidence from the Qur’ān and the Prophetic traditions, the paper argues that those who pay zakāh are not left with the promise of reward in the hereafter alone, rather they are blessed with the abundance of wealth in this world also. Conversely, those who are involved in ribā-based transactions are punished in this world before being punished in the hereafter.
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