Abstract
The current menace of COVID-19 pandemic has already impacted almost each and every one across the globe directly or indirectly. The focus of world leaders and economist has now shifted from spread of the disease to the economic consequences which will bring hardship to the society in general and individuals in particular. The menace of the pandemic resulted shortage of production which will result into the shortage of supply and consequently will end as loss of jobs and employment for millions of individuals around the globe. The most important group of people to be considered in our society during any crisis are daily wage earners who will have to bear the major burnt of this crisis. The proposed integrated Model of collecting and distributing Zakat can help the government agencies and economic institutions to minimize the adverse impact of COVID-19 pandemic on individuals in Bauchi State Nigeria. The present study explores the possibility of Zakat as a financing method to fight the adverse impact of COVID-19 pandemic on poor individuals in the society. It provides the solution by proposing an Islamic Model of collecting Zakat and its well distribution. The qualitative approach which include review of related literatures and interview with relevant bodies on personnel’s have been adopted in the study. While inductive approach of thematic analysis was utilized for data analysis. The findings of the study reveal that Zakat as an Islamic finance model have immense potential to fight any kind of situation and pandemic in respect of location, era, people or religion. Zakat, if properly collected, well managed and accurately distributed can help to fight the adverse effect of COVID-19 pandemic on individuals in the study area. Practical Implications to be used as an effective way to support poor individuals during and after the period of COVID-19 pandemic in Bauchi State Nigeria. The study will contribute massively to the existing literature and will help the government, religious organizations and civil societies in fighting the economic impact of COVID-19 pandemic on individuals in Bauchi State, Nigeria.
Highlights
The start of the 21st decade and first quarter of 2020 has seen everything in terms of fear, rumors, reliable and fake news that lastly exposed the emergence of this deadly virus of COVID-19 pandemic
Our focus will be beyond the number of infections and death, we will analyze the economic impact of this pandemic on individuals and how we can use Islamic financial model of Zakat as a tool to fight and minimize the damage of this virus on more especially poor individuals of the society in the study area
DISCUSSIONS According to the above investigations and presentations in the study, the discussions revealed that Islamic finance in general and Zakat in particular have the ability to counter the threats and effects arisen in the communities because of crisis and disaster situations like COVID-19 pandemic in Bauchi State Nigeria
Summary
The start of the 21st decade and first quarter of 2020 has seen everything in terms of fear, rumors, reliable and fake news that lastly exposed the emergence of this deadly virus of COVID-19 pandemic. IMPACT OF COVID-19 PANDEMIC ON POOR INDIVIDUALS IN BAUCHI STATE NIGERIA Though the death toll and number of infected people from COVID-19 are mainly from the world’s most developed countries like, U.S, Italy, Spain, Germany, China and UK which are increasing every day till ends of October last year.
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