Ramadan and the economy

Ramadan and the economy

CORONA VIRUS Events Fasting in ramadan Islam Islamic Events Islamic News News News in Image Pillars of Islam Ramadan 2020

Ramadan and the economy

Economics is an extraordinary discipline because it is connected to every aspect of people’s daily lives. Worship of Islam is also closely linked to economic activities and has had a significant impact on the economy.
The very beginning of the holy month of Ramadan brings about a substantial change in financial practices within the country, which in many ways strengthens the economy.In the blessed month of Ramadan, the wheel of the economy moves very fast. This provides financial support to all sections of the society. Sahar and Iftar social activities help keep the economy afloat.
Zakat is a fundamental component of the pillars of Islam. The rich and middle class of the society distributes the accumulated money among the poor sections of the society by purifying their wealth through Zakat. The poor sections get their heart’s content by spending their income on basic necessities of life. Stays in condition. A balanced and stable society is also the only source of peace and order on the Holy Land. Another economic aspect of Ramadan is for business as the demand for goods and services increases during this holy month. Employment opportunities are created which heralds overall prosperity.