Al-Birr: A Unique Modus Operandi for Poverty Reduction among Muslims in Ekiti State, Nigeria

Abstract

In Nigeria poverty is widespread and increase on daily basis.  The cause of poverty has been attributed to unemployment, poor distribution of wealth, corruption, hardship inflicted by usury (interest rates), hoarding of commodities and cheating. This paper examines the impact of Al-Birr Islamic cooperative society in making life worth living for Muslims in Ekiti state. Descriptive design of the survey type was used for the study. The population for the study comprises of all members of the society in Ekiti from which 568 sample were selected using sample random sampling techniques. The questionnaire for the study was designed by the researcher and duly validated by expert from test measurement. Research question and hypothesis was answered and tested by the researcher respectively. The finding reveals that there is no significant difference in the responses of respondents on the impact of Al-Birr Islamic cooperative society in making life worth living for Muslims in Ekiti state. It is therefore recommended that, Nigerian government need to embrace Islamic financial institution as practiced by Al-Birr in its laws and programme implementation for sustainable development in Nigeria.