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Promoting Cooperative "Takaful" to Commercial "Takaful" Status for Poverty Alleviation: A Case Study of A. A. Zubairu Initiative

المصدر: مجلة دراسات مصرفية ومالية
الناشر: أكاديمية السودان للعلوم المصرفية والمالية - مركز البحوث والنشر والاستشارات
المؤلف الرئيسي: Dandago, Kabiru Isa (Author)
المجلد/العدد: ع39
محكمة: نعم
الدولة: السودان
التاريخ الميلادي: 2022
التاريخ الهجري: 1443
الشهر: يناير
الصفحات: 33 - 52
ISSN: 1858-5949
رقم MD: 1329259
نوع المحتوى: بحوث ومقالات
اللغة: الإنجليزية
قواعد المعلومات: EcoLink
مواضيع:
كلمات المؤلف المفتاحية:
Alleviation | Takaful | Social Solidarity | Poverty | Economic Empowerment | Sustainable Development
رابط المحتوى:
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المستخلص: This paper is an attempt to bring to the fore the concept of Takaful (Islamic Insurance) as a social solidarity measure for economic empowerment and poverty alleviation from the grassroots to a higher level, so that it could occupy its rightful position in the Nigerian economy and beyond. More than ever before, the Nigerian economy and other developing economies of the world are in dire need of self-empowerment strategies that would ensure effective poverty alleviation, as they suffer from prolonged poverty and deprivation. Takaful arrangement is hereby presented as a necessary component of an effective financial system in any serious economy and, so, all its elements are to be integrated into the economic system for the achievement of the noble objective of sustainable economic development. Adopting a case study type of research, the paper traces the historical background of the A.A. Zubairu “Takaful” Initiative, its operational guidelines and policies and its impact on the participants and the immediate community. It is discovered that the Initiative, which has existed for about 20 years, has succeeded in empowering the participants to own plots of lands, construct owner-occupied houses, own vehicles, enhance capital bases of their businesses and other economic powers. It is also found that the Initiative has the prospect of graduating to Commercial Takaful where it could make multiple positive impacts on the economic lives of the participants, the immediate community and the economy as a whole. It is recommended that to alleviate poverty, ensure effective capital formation and complement the contribution of the banking industry towards sustainable economic development in Nigeria and beyond, Takaful schemes should be floated in all communities, by sincere community activists, and they are to be synergized and galvanized, by the activists and the government, for the cropping up of mega businesses that could compete with conventional businesses.

ISSN: 1858-5949