Islamic Economics: Revisiting The Economic Significance of Qurban

With Eid ul Adha just around the corner, we explore not the ritual significance but the economic significance the practice has on Muslim countries internationally. We also touch on how this practice, considered a subset of Islamic social finance can be further developed by the Islamic Finance industry.

Muslims globally celebrate the Eid Ul Adha by offering a ritual sacrifice in the form of livestock such as sheep, cow or camel. First world to third world countries showcase a sharp contrast in wealth distribution not just in monetary terms but also in the distribution of one of life’s luxuries- meat. With the advent of Covid-19, countries with no livestock production, such as in Singapore, are forced to turn internationally to fulfill their qurban rituals.

From Australia to India and as far as Africa, qurban is done with the meat distributed to the poor, but could there be more done? More done from a zero waste policy, more done with the effects felt throughout the year and repeated annually?

Explore these questions and more with our guests panelists Dr Hikmatullah and Mufti Yousuf in this webinar where we revisit the economic significance of Qurban.

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