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Waqf is one of the most potent socio-economic tools for reducing public sector deficit and breaking the chain of intergenerational poverty. Providing a high-level discussion on waqf development and innovation within the context of modern socio-economic and legal developments, this book examines the importance and potentials of waqf and the issues relating to its legal and regulatory framework. The research delivers future directions for countries that plan to explore this socio-economic institution. Readers and policymakers will be able to replicate successful experiments and learn from some failed initiatives to seek alternative funding platforms to support the fiscal policies of developing countries. The volume discusses the relevance and novel application of waqf in the modern economic system and social development, it reviews applicable laws and regulations pertaining to waqf and trust laws and examines critical, cross-country case studies and experiences. Setting an agenda for further researchers in the field of waqf, this comprehensive high-level analysis, with case studies from leading jurisdictions across the world, is a key resource for researchers, policymakers and institutions interested in charitable endowments, Islamic finance, and social finance.
This book focuses on the historical development, codification and present day perceptions of Islamic law in Zaydī Yemen in the field of waqf, the relation between theory and practice over time and the development of central waqf administration.
Waqfs, or religious endowments, have long been at the very center of daily Islamic life, establishing religious, cultural, and welfare institutions and serving as a legal means to keep family property intact through several generations. In this book R. D. McChesney focuses on the major Muslim shrine at Balkh--once a flourishing city on an ancient trade route in what is now northern Afghanistan--and provides a detailed study of the political, economic, and social conditions that influenced, and were influenced by, the development of a single religious endowment. From its founding in 1480 until 1889, when the Afghan government took control of it, the waqf at Balkh was a formidable economic force in a financially dynamic region, particularly during those times when the endowment's sacred character and the tax privileges it acquired gave its managers considerable financial security. This study sheds new light on the legal institution of waqf within Muslim society and on how political conditions affected the development of socio-religious institutions throughout Central Asia over a period of four hundred years. Originally published in 1991. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
This book deals with Law of Waqf (Muslim Endowment Law) and its judicial response in India. The volume covers several jurisprudential and historical aspects of Waqf, which include Doctrines of Waqf; Essential Requisites of Waqf; Valid Objects of Waqf; Historical Account of Waqf; Emergence of Waqf Law in India; and Constitutional Validity of Waqf in India. The chapters then go on to discuss the Waqf Act 1995 and Waqf Amendment Act 2013. The legal perspectives of each Section of Waqf Act and its amendments are elucidated with references under Reflections. The case-law has been analysed and cited under each Section of Waqf Act, wherever applicable. This book will be of interest to scholars and researchers of law and legal studies. It will be of interest to practitioners of Waqf Jurisprudence in India, the managers of Waqf Institutions and officials involved in Waqf Administration.
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.
Waqf is emerging globally as a distinctive institution, serving as a vital bridge between societal and economic needs, and resource allocation. Waqfs functioning in some parts of the world, of a variety of assets such as cash, stocks, securities, intellectual property rights, and other financial instruments by individual, institutional, and corporate wāqifs, are paving the way for financial and social inclusion. This book explains how the system of awqāf leads to welfare in society by facilitating financial and social intermediation. It describes waqf in accessible terms, focusing on how it helps people, communities, and nations, and how it can help make societies equitable, peaceful, efficient, and more prosperous. It comprises eight key themes, including a brief overview of the historical role of waqf in various periods in Muslim societies in socioeconomic sectors; the evolutionary aspects of waqf as an institution; the role of waqf in promoting entrepreneurship; the role of awqāf system in an economy by facilitating financial and social intermediation; potential options for using waqf as financial intermediation; an overview of the management and regulation of waqf entities; the organizational and legal framework for the institution of waqf; and key findings and recommendations for realizing the capacity of waqf in the pursuit of socioeconomic welfare. Specifically, the book takes Pakistan as a case study. This research-oriented book is tailored to readers interested in understanding the fundamental concepts of Islamic finance and social welfare, without requiring a background in the discipline. It caters to academics, researchers, policymakers, and those keen on exploring the transformative potential of waqf to achieve societal welfare and shared economic growth.
Waqfs (pious endowments) long held a crucial place in the political, economic, and social life of the Islamic world. This volume, which evolved from papers delivered at the 2005 American University in Cairo Annual History Seminar, offers a meticulous set of studies that fills a gap in our knowledge of waqf and its uses.
This study presents a new approach to the phenomenon of Muslim pious foundations, or waqfs, focussing on the evolution of the institution in the urban context and the elaboration of the legal framework to accommodate the urban system of control. Taking Damascus as an example, it is shown how the waqf-institution determined the shape and character of Muslim cities.
This work presents an analysis of the earliest legal treatises on the Islamic trust, or waqf - the Ah kam al-Waaf" of Hilal al-Ray and the Ah kam al-Awqaf of al-Khassaf. This work undertakes a textual analysis of the treatises.
Thirty-one years after the Waqf-e-Nau initiative was launched, there are now over 61,000 Waqf-e-Nau in the world. In the hopes that they will serve the Community in various capacities, these young devotees are placed into the initiative by their parents. Yet, despite having a large number of children enrolled in the initiative, many are unaware of the true significance of being Waqf-e-Nau. The Essence of Waqf-e-Nau is a translation of a Friday Sermon delivered by the worldwide head of the Ahmadiyya Muslim Community, Hazrat Mirza Masroor Ahmad(at) on October 28th, 2016. In this sermon, His Holiness espouses the true essence of the Waqf-e-Nau initiative. The purpose is to raise children to be devotees of the Community, those who are willing to lay down their lives and spiritually attain lofty heights, just as the companions of the Holy Prophet Muhammad(sa) had done. Having a Waqf-e-Nau child does not deem any merit on its own. His Holiness stresses the point that these children are not special just by being Waqf-e-Nau. Rather, they will be seen as special by Allah only if they uphold their responsibilities and become true, ardent servants of Allah. Just as Hazrat Maryam(as) devoted her unborn child in the way of God, it is the parent’s duty to raise their children with the proper intention and sincerity.