Abeokuta — Islamic clerics have called for the adoption of the Islamic economic system as a way of addressing the global economic recession.
The clerics spoke at the annual Zakat seminar organized by the Zakat and Sadaqat Foundation, Egba/Yewa zone in Abeokuta.
Among the clerics was the Radif Wali (deputy state coordinator) of The Muslim Congress (TMC) in Ogun State, Ustaz Surajudeen Yusuf.
They maintained that the Islamic economic model is an age long model which has withstood the test of time.
Yusuf, who led the discussion on the theme, Zakat: Our lost heritage, attributed the socio-economic and security problems in the world to faulty economic models.
"The capitalist and socialist economic models have failed to address the economic challenges in the world.
The world's socio-economic problems are associated with non adoption of the Islamic economic model and abandonment of the institution of Zakat.
The Islamic economic system ensures equitable distribution of wealth where the rich are made to empower the poor in order for them to live in peace," he said.
Also speaking, the Administrative Secretary of the foundation, Ustaz Maruf Ahmad, called for the establishment of more Non Governmental Organizations (NGOs) and institutions to raise awareness on the benefits of Zakat.
Earlier, chairman of the occasion, Alhaji Ambali Adetona, called on all qualified Muslims to pay their Zakat as a way of seeking the pleasure of Allah.