Towards a New Role for the Waqf Institution

Nonfiction, Religion & Spirituality, Middle East Religions, Islam, Social & Cultural Studies, Social Science
Cover of the book Towards a New Role for the Waqf Institution by Hussein Elasrag, Hussein Elasrag
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Author: Hussein Elasrag ISBN: 9781370632626
Publisher: Hussein Elasrag Publication: November 25, 2017
Imprint: Smashwords Edition Language: English
Author: Hussein Elasrag
ISBN: 9781370632626
Publisher: Hussein Elasrag
Publication: November 25, 2017
Imprint: Smashwords Edition
Language: English

Awqaf can be used not only to provide immediate necessities to the poor, but also to create or strengthen business support institutions that can lower the cost of doing business for the poor. Awqaf can also be used to support and build infrastructure institutions that can improve corporate governance and reduce the cost of doing business. For example, information bureaus, market regulatory bodies, the provision of accountancy services, and other such shared services for a group or for the entire society can be funded through waqf. Thus, this paper focuses on the application of these concepts and some possible roles that waqf may play in the socio-economic development of the Muslim societies.

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Awqaf can be used not only to provide immediate necessities to the poor, but also to create or strengthen business support institutions that can lower the cost of doing business for the poor. Awqaf can also be used to support and build infrastructure institutions that can improve corporate governance and reduce the cost of doing business. For example, information bureaus, market regulatory bodies, the provision of accountancy services, and other such shared services for a group or for the entire society can be funded through waqf. Thus, this paper focuses on the application of these concepts and some possible roles that waqf may play in the socio-economic development of the Muslim societies.

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