Revisão do Jornal Árabe de Negócios e Gestão

Islamic Finance in Favor to Development and Economic Growth: An Illustration of the Principle of Zakat

Abstract

Daly S and Frikha M

“Zakat”, the third pillar of Islam, is central in Islamic economic. It is a work of cult financial, purifies the soul and increases its merits, as it purifies the property and increases the wealth. It means etymologically, grow, propose, and be fair and clean. It reduces the gap between rich and poor. The importance of “Zakat” is revealed by the number of Qur’anic verses that advocate the necessity of Zakat. Study’s aims are to present Islamic banks andto determine the necessity of “Zakat” as a tool to ensure the socio-economic stability and ensure stabilization the phases of economic cycle.