Islam, Neoliberalism and Social Inequality in Bangladesh: A Social Policy Perspective

Abstract

The main objective of this chapter is to explore the relationship between zakat and reduction of social inequality in Bangladesh via historical development of Bangladesh social policy, social welfare regime and social welfare practices from 1201 to the present. It compares the neoliberal strategy of microfinance and Islamic strategy of zakat through Shokkhom Project data of a zakat-based Third Sector, Obhizatrik. It collects profiles of 82 beneficiaries, 49 males and 33 females, who received zakat between 2016 and 2017. Out of total 33 zakat recipients of Dhaka District, 13 case studies, 9 males and 4 females, were conducted for expediency. The chapter finds that Islamic welfare practice of zakat is more effective in the alleviation of poverty and ensuring social welfare than the neoliberal strategy of interest-based microfinance.