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This paper aims to explore the use of the western-ethno centric concept in Islamic economics with special reference to the concept of poverty. As in the case of many other concept in Islamic economics, the concept of poverty suffers from an absence of an Islamic redefinition. Although Islamic institutions such as zakat and awqaf are espoused to be an effective means in alleviating poverty, the very concept of poverty itself has not been redefined according to Islamic teaching.