IslamicFinance.de

Regardless of its average GDP growth, the widening of the gap between the rich and poor is certain to affect the well-being of everyone, the rich included. Although some governments aim to achieve narrower gaps through reducing gaps in earnings, others realize that goal through taxation and redistribution of wealth. Many Egyptians abide by redistribution constituted both by the state, in the form of taxes, and religion. Among the five main pillars of Islam is Zakat, which calls on well off Muslims to annually pay 2.5% of their net monetary wealth. Putting the previous through a simple mathematical calculation while bearing in mind that Egypt’s population has grown to 95 million, it isn’t hard to imagine the amount of money being willingly circulated in Egypt out of faith and spirituality.