Waqf (Endowment): A Vehicle for Islamic Social Entrepreneurship
Book Name: "Waqf (Endowment): A Vehicle for Islamic Social Entrepreneurship"
Publisher: IBFIM (Islamic Banking and Finance Institute Malaysia), Kuala Lumpur
Year of Publication: 2017
Author: Dr. Thamina Anwar
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Mohd Zain Abdul Rahman
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Awqāf institutions have played a pivotal socio-economic role in the Islamic history and financed many of the welfare services for the betterment of communities. However, currently a vast majority of awqāf assests are hoarded in banks and unproductive land which is hampering the circulation wealth from the rich to the poor. This is in contrast to the role of waqf as a platform for re-circulation of wealth.
As the inequality in the gap between the rich and poor has widened in the recent years, there has been a considerable increase in poverty, both in the developed and developing worlds. Therefore, there is a need to revitalize waqf in order to empower marginalized communities and narrow the gap in wealth inequality between the rich and poor.
This book goes back into the drawing book in order to provide insights into the fundamentals of waqf and uncover solutions from Islamic perspectives. It calls for investing waqf assets in social entrepreneurship practices and outlines the modus operandi of the waqf-SE model. This is the foundation of waqf as a social enterprise.
Financing the Development of Old WAQF Properties: Classical Principles and Innovative Practices Around the World
Name of Book: “Financing the Development of Old WAQF Properties: Classical Principles and Innovative Practices Around the World”.
Publisher: Palgrave Studies in Islamic Banking, Finance and Economics, USA.
Year of publication: 2016.
The book can be purchased from: http://www.palgrave.com/br/book/9781137581273
Dr. Magda Ismail Abdel Mohsin,
Dr. Hisham Dafterdar,
Dr. Murat Cizakca,
Dr. Syed Othman Alhabshi,
Dr. Shaikh Hamzah Abdul Razak,
Dr. Seyed Kazem Sadr,
Dr. Thamina Anwar,
Dr. Mohammed Obaidullah.
About this Book:
This book presents successful case studies in Muslim and Muslim minority countries that have revolutionized the redevelopment of idle waqf properties into productive land trusts. The revival of this institution over the last two decades shows the growing optimism in galvanizing the socioeconomic role of waqf by adopting its flexible shariah measures. Innovative ways of financing redevelopment allow Muslims to extend these roles to include new beneficiaries. New uses for these properties include providing services to the community, opening jobs for the majority of people, funding small entrepreneurs, educating the masses, providing health care, and sheltering the poor and needy. Countries under study include Sudan, Turkey, Malaysia, Indonesia, Singapore, New Zealand, Kuwait, Oman, Qatar, and Iran. Additionally, the book examines the International Development Bank's role in financing the development old waqf properties in different countries.