Towards A New Role Of The Institution Of Waqf

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.

The scarcity of studies on waqf may arise from the lack of data and the lack of transparency in the economic and political structure of the many Islamic countries. 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 book focuses on the application of these concepts and some possible roles that waqf may play in the socio-economic development of the Muslim societies.

Poverty is one of the top problems the Muslim community faces today. A scholastic approach towards a solution based on the values and cultural contexts of the Muslim community holds great importance and significance to the Islamic civilizations and modern economic and cultural applications in the world. Challenges and Impacts of Religious Endowments on Global Economics and Finance is a pivotal reference source that examines the role of waqf and similar endowments in Islamic financial systems and how these religious endowments impact global economics and finance. While highlighting topics such as Islamic finance, risk management, and economic development, this publication explores adopting Islamic approaches to contemporary socio-economic issues and the methods of content analysis and meta-analysis methods. This book is ideally designed for professionals, economist regulators, financial analysts, academics, researchers, and postgraduate students seeking current research on modernized Islamic economic models in order to tackle the problem of fiscal deficiency.

The global halal industry is likely to grow to between three and four trillion US dollars in the next five years, from the current estimated two trillion, backed by a continued demand from both Muslims and non-Muslims for halal products. Realising the importance of the halal industry to the global community, the Academy of Contemporary Islamic Studies (ACIS), the Universiti Teknologi MARA Malaysia (UiTM) and Sultan Sharif Ali Islamic University (UNISSA) Brunei have organised the 4th International Halal Conference (INHAC) 2019 under the theme “Enhancing Halal Sustainability'. This book contains selected papers presented at INHAC 2019. It addresses halal-related issues that are applicable to various industries and explores a variety of contemporary and emerging issues. It covers aspects of halal food safety, related services such as tourism and hospitality, the halal industry - including aspects of business ethics, policies and practices, quality assurance, compliance and Shariah governance Issues, as well as halal research and educational development. Highlighting findings from both scientific and social research studies, it enhances the discussion on the halal industry (both in Malaysia and internationally), and serves as an invitation to engage in more advanced research on the global halal industry.

L'Awqaf peut �tre utilis� non seulement pour fournir des produits de premi�re n�cessit� pour les pauvres, mais aussi de cr�er ou renforcer des institutions de soutien aux entreprises qui peuvent r�duire le co�t de faire des affaires pour les pauvres. L'Awqaf peut �galement �tre utilis� pour soutenir et renforcer l'infrastructure des institutions susceptibles d'am�liorer la gouvernance et r�duire le co�t de faire des affaires. Par exemple, les bureaux d'information, les organismes de r�glementation du march�, la fourniture de services de comptabilit� et d'autres services partag�s pour un groupe ou pour l'ensemble de la soci�t� peuvent �tre financ�s au moyen de waqf. Et c'est d'ailleurs dans cette perspective Islamique Le pr�sent papier a pour objectif but de mettre de la lumi�re sur les aspects th�oriques et pratiques de l'institution du Waqf . Et se concentre sur l'application de ces concepts et des r�les possibles que de waqf peuvent jouer dans la situation socio-�conomique de la soci�t�s musulmanes.

This book provides an interdisciplinary analysis of trade relations with the Middle East and Arab countries from the perspectives of law, business, policy and culture in the Middle East and the Arab world and their interaction with the wider world, particularly Western countries. The rapidly evolving economy of the Middle East and the Arab region is undergoing significant change, and establishing modern foreign ownership law, robust company, business and investment regulations, modern legal professions while keeping its basic traditional and Islamic principles. This book covers a number of important theoretical and practical aspects of commercial and trade relationships and law. It examines case studies of trade and investment relations between Arab and Middle Eastern countries and Western Countries, such as Australia, UK and US, touching on such topics as corporation law, arbitration and foreign judgments, future mobility and disruptive technology law, financial services law, charity law, trusts and cultural law. Exploring emerging trade and investment ties between Arab and Middle Eastern countries and Western countries, it will be of interest to students, academics and practitioners with an interest in international trade and investment law.

The word (waqf) and its plural from awqaf are derived from Arabic root Verb which means "to stop", or " to hold" " to keep" or to prevent property from passing into the hands of a third person. In a religious connotation, the term waqf means to protect and preserve the property in such a way that remains intact but its usufruct is dedicated for charitable purposes in perpetuity. Endowments or awqaf (the plural of waqf) resemble common law trusts, with the trustee being the institution or individual in charge of the waqf and the beneficiary usually being the whole community. 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.

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.