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Cited by 32Cooperative Studies and EconomicsIslamic Finance and Banking StudiesReligion, Society, and Development

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Elimination of poverty by Islamic value based cooperative model

Selim, Mohammad, Farooq, Mohammad Omar·2020·Journal of Islamic Accounting and Business Research
DOI 10.1108/jiabr-08-2018-0125
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Abstract

Purpose: The purpose of this paper examines how the challenge of poverty can be effectively addressed by broadly adopting Islamic value based cooperative model (IVCM) where the members come together to overcome and eventually eradicate the curse of poverty for themselves and for their future generations. Design/methodology/approach: The elimination of poverty by adopting IVCM and its impact on the cooperative members, as well as its effects on major macroeconomic variables, are examined on the theoretical ground by using the general equilibrium model of demand and supply-side variables. Findings: The IVCM for the elimination of poverty reveals that the poverty gap can be eliminated through resource mobilization, as well as by creating new and additional income, wealth and resources through collaborative efforts. Through cooperative organizations based on Islamic values and principles, eventually, the entire poverty pool can enjoy income-earning opportunities through employment or self-employment, as well as promoting skills and education, leading to breaking the vicious cycle of poverty. Originality/value: Cooperatives in general and Islamic cooperatives, in particular, are not new in the discourse about poverty. Indeed, there are cooperatives throughout the Muslim world and beyond and there are many studies related to cooperatives and their role in development. However, this might be the first theoretical contribution that models the role and impact of cooperatives in a macroeconomic framework, and thus, advances the scientific repertoire of knowledge and understanding about the related discourse by developing a rigorous mathematical model.

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Metadata

Authors
Selim, M., & Farooq, M. O.
Affiliations
University of Bahrain (BH)
ORCID
Venue
Journal of Islamic Accounting and Business Research
Publisher
Emerald
Published
2020-01-29
Volume
11
Issue
5
Pages
1121-1143
ISSN
1759-0817 (ISSN-L)
DOI
10.1108/jiabr-08-2018-0125
OpenAlex
W3003934138
Cited by
32
References
0
Citations by year
2026: 2 · 2025: 8 · 2024: 6 · 2023: 9 · 2022: 1 · 2021: 5 · 2020: 1
FWCI
3.38
Type
journal article
Language
en
Open access
closed
Licence
www.emerald.com/insight/site-policies (tdm)
Locations
  • Journal of Islamic accounting and business research (publishedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
Topics
  • Social Sciences › Business, Management and Accounting › Strategy and Management › Cooperative Studies and Economics
  • Social Sciences › Business, Management and Accounting › Accounting › Islamic Finance and Banking Studies
  • Social Sciences › Sociology and Political Science › Religion, Society, and Development
Keywords
poverty eradication, Islamic cooperatives, cooperative economy, resource mobilization, income generation, self-employment, education and skills, general equilibrium model

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