This study provides insights to the stakeholders of a Cash Waqf infrastructure to continue strengthening their role by understanding the embedded physical and spiritual values and benefits of their acts. It is pertinent for regulators to further encourage VBI among Islamic financial institutions, towards attaining the pure philosophical foundations of Islamic banking and finance; i.e., the principles of socio-economic justice and brotherhood.
Authors think that internet crowdfunding is positioned to assume a pivotal role in fundraising efforts catering to a diverse range of emerging Waqf needs, both domestically and internationally. Consequently, there is a pressing demand for an enhanced level of professionalism in Waqf fundraising, particularly when it pertains to the establishment of the financial mechanisms required for such endeavours.
Experts urge adopting Islamic Economics to meet Sustainable Development Goals at Ist Islamic Economics and Development Conference at Quaid e Azam University Islamabad on December 7, 2023.
The aim of Islamic social finance is to support socio-economic empowerment, progress, and the development of society. Pooling resources from social finance instruments, like Zakat (alms giving), Waqf (endowments), Qardh al-hasan (interest free benevolent lending), Takaful, and Sadaqah (charity), can establish and lead to growth of lower-income micro-enterprises in the country.
This paper discusses the concept of Waqf and university endowments. The author highlights that contemporary university endowments take their inspiration from the concept of Waqf.
This paper discusses that the socio-economic aspect of Waqf is much less focused upon in research studies. More focus is on jurisprudential and legalistic studies. While they are important, it is also vital to discuss and pay attention to socio-economic aspects of Waqf in Waqf economics.
This paper discusses the issue of risk vis-Ã -vis the perpetuity restriction principle inherent in Waqf (Islamic endowment). The authors contend that as a result of Ijtihad, particularly Istihsan bi-al-urf (juristic preference on the basis of custom), endowing cash as Waqf is now accepted in the Muslim world.
The noted authors explain that the main contribution of this study is to present a model in which juristic and moralist positions are endogenized and augmented to constitute Islamic social welfare function.
The discussions in the forum emphasized on creating synergy between Zakat and Waqf and integrate both the institutions together in institutional design and delivery as well as in public and social policy in member countries.
Cash Waqf has a unique feature of flexibility in allocation of economic resources for their use in redistribution efforts, in terms of cash transfers, asset transfers, skills transfer through education and productivity transfers through health services.
Islamic Economics Project 