ANALYSING THE ROOTS OF INFLATION IN THE GAMBIA: AN ISLAMIC APPROACH TO RESOLVING THE ISSUE
Keywords:
Inflation, Poverty, Islamic Models, Zakat, Sadaqah, Waqf.Abstract
Inflation is a persistent problem in many countries, including The Gambia. This study aims to analyse the roots of inflation in The Gambia and propose an Islamic approach to resolving the issue. The study uses a secondary data analysis approach to identify the root causes of inflation, analyse its effects on the economy and the population, and propose an Islamic path to resolving the issue. Principles of justice, fairness, and social welfare guide the study. The study finds that various factors, including government policies, supply shocks, and external factors, cause inflation in the Gambia. Inflation has negatively affected the economy and the population, increasing poverty and hardship. The study proposes an Islamic approach to resolving inflation in Gambia, which involves adopting Islamic economic models and principles. The study concludes by summarising the findings and providing recommendations for policymakers and stakeholders in Gambia.
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