Management of Sadaqah Through Social Enterprises: A Case Study of Anjuman Mufidul Islam, Bangladesh

Abstract

Sadaqah (voluntary charity) is a glorious activity in Islam. It is considered to be a symbol of one’s Iman (faith). The importance of Sadaqah has been narrated both in the holy Qur’an and in the Hadith. Thus, the Muslims always try to give aids to the needy people. In fact, they seek to establish a society where social justice and distributional equity would prevail so that a section of the society does not discriminate and prosper at the expense of the rest of the society. As Islam promotes social equality and harmony, any business would be considered closer to Islamic principles if its operations and practices are socially, commercially, and environmentally sustainable. In a modern context, these businesses are known as “social enterprises”. Thus, establishment of social enterprises may ensure the social justice which is the prime concern of Islamic Financial System. Instead of scatter contribution of Sadaqah, its efficient use through the establishment of social enterprises may help ensuring social justice and uphold the prime purpose of Islamic Financial Systems in a better way. One of the best examples of such enterprises is Anjuman Mufidul Islam, Bangladesh. Thus, the study is an endeavor to evaluate the management of Sadaqah by Anjuman Mufidul Islam, Bangladesh. The research also attempts to propose a model for efficient management of Sadaqah through social enterprises. The secondary sources of data collected from the annual reports of Anjuman Mufidul Islam, Bangladesh have been used to evaluate how well it is managing Sadaqah to ensure social justice. Existing models of social enterprises have also been examined. A great achievement of Anjuman Mufidul Islam Bangladesh has been revealed from the study and on the basis of it a model has been developed for efficient use of Sadaqah.

Keywords: Sadaqah, Efficient Management of Sadaqah, Social Enterprises, Anjuman Mufidul Islam, Bangladesh.