%0 Journal Article
%T The Role of Zakat in Islamic Economy Which Is A Supply-Oriented Economy
%A Veli SIRIM
%J -
%D 2018
%X Zakat is a worship which has economic aspects and it is one of the five basic principles of Islam. In this article, we will deal with its role in supporting supply-side Islamic economy as the most important aspect of zakat. In this respect, zakat positively changes the patterns of consumption, production and distribution of Islam. Especially, Islam which earnestly and diligently emphasizes the concept of alms (infak) (cause-related spending) predicates spending on rather than saving. In other words, technically, it is based on spending for income generation rather than saving. Zakat is the most significant tool for expanding wealth and property in a society. As it has been known, zakat is income transfer from people who have income above the level of minimum of subsistence (nisab) aftermath of taking out basic necessities and over a year, to people who are under this threshold, and sometimes zakat is provided by means of the state. Zakat is the most important formula to prevent saving (iddihar) which is principally regarded as forbidden in Islam; in other words, to prevent accumulation of prosperity and wealth by certain people. In that case, that saving will be subject to zakat over a year after the fund obtained under certain circumstances. The main properties such as machines- equipment used for production, physical means of production are not subject to zakat. Therefore, in this respect zakat means incentivizing wealthy individuals to invest in fixed capital goods; in the most general terms, indirectly incentivizing a supply-oriented economy. Purchasing power of the poor who gain income through zakat will increase, their demand for goods and services will increase, and as a result, there will be a purchasing power at the level of popularization of zakat in the lower income group, and even those that have not a source of income. Thus, the demand for goods and services which are produced by the upper income group who have means of production and there will be mobility in the market. And there will be substantial increase in prosperity of individuals who give zakat, this increase will be able to transform into investment, production and employment again; ultimately, national income will increase
%K Zekat
%K Arz Y£¿nl¨¹ Ekonomi
%K Gelir Da£¿£¿l£¿m£¿
%U http://dergipark.org.tr/ijisef/issue/36413/412129