Poverty Alleviation Among Organization of Islamic Cooperation (OIC) Countries: The Role of Crowd-Humanitarian Fund

Abstract

Poverty remains a central theme in academic discourse, particularly in countries with limited economic viability. It is also one of the major issues identified to be strongly linked with global wealth inequality. Among OIC countries, poverty underscores a major socio-economic phenomenon that policy makers and scholars continue to grapple with. This is as a result of its multidimensional nature and its possible consequences on the less-privileged in particular and humanity in general. More than that, its associated effects are expected to vary spatially across socio-economic groups within and among countries of the world. This paper therefore investigates poverty from various standpoints, particularly as related to members of OIC countries. It further highlights various types of crowdfunding as instrument to tackle socio-economic issues. The study also interrogates how crowd-humanitarian funds can be adopted as a unique global strategy and mechanism to address poverty. The study adopts a qualitative research strategy with a strong reliance on secondary data. Scholarly works, reports and related academic literature are employed to fulfil its objectives The paper posits that crowd-humanitarian funds, if harnessed, can significantly reduce poverty among the less-privileged citizens in Organization of Islamic Cooperation (OIC) countries. Achieving these outcomes holistically requires the full support of the state alongside other key actors in the economy. OIC governments must invest in educational initiatives to raise awareness about the potentials of crowdfunding for poverty alleviation. Policymakers should also design strategies and frameworks that mobilize both human and material resources toward this objective. Without such institutional backing, large socio-economic gaps could persist, leading to instability and unpredictable consequences between and among nations.