Availability of an Adequate Compensation for Poor through a Model of Institutionalized Charity System in Pakistan
Pages : 912-917Download PDF
The paper discusses the un-institutionalized charity system in Pakistan. It explains that how it creates numerous problems and barriers in channelizing the funds to poor and designing an effective compensation for the deserved people in the country. In short, the overall impact of the un-institutionalized charity system has been discussed by giving examples from the current mechanism and related problems that exist in the country. Similarly, the role of Pakistan Bait-ul-Mal and outcomes associated with the Benazir Income support program have also been analyzed in terms of channelizing charitable funds to the needy people. This is a theoretical study based on an analytical approach which takes random samples from different countries regarding their charity system. A comparison of developing and developed countries has also been performed in the literature to study various aspects linked with different institutionalized charity systems being used around the world. Last, an innovative model of the institutionalized charity system has been proposed for Pakistan by integrating the positive aspects of multiple institutionalized charity systems discussed in this study in order to channelize and manage charity contributions effectively.
Keywords: Un-Institutionalized charity system, Zakat, Bait-ul-Mal, Philanthropy, Compensation for Needy, Model of Institutionalized charity system.