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Waqf Resource Mobilization for Poverty Alleviation Based on Maqasid Framework

Author

Listed:
  • Hassanain, Khalifa M. Ali

    (The Islamic Research and Teaching Institute (IRTI))

Abstract

This study adopts the framework practiced by various multilateral development banks (MDBs), particularly International Development Association (IDA), to explore the potential establishment of a global Waqf fund, as this framework is proven effective. The framework revolves around the IDA operations with replenishments, allocation of funds by implementing specific formulas and the determination approach, which is mainly to monitor effectiveness of the earlier processes. The study proposes to integrate Islamic vision of development based on Maqasid al-Shari’ah with IDA principles for the allocation of funds for a potentially global Waqf fund. The objective is to create more effective approach for raising and using resources for a global Waqf fund.

Suggested Citation

  • Hassanain, Khalifa M. Ali, 2018. "Waqf Resource Mobilization for Poverty Alleviation Based on Maqasid Framework," Policy Papers 2018-3, The Islamic Research and Teaching Institute (IRTI).
    • Handle: RePEc:ris:irtipp:2018_003
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    References listed on IDEAS

    as
    1. Khalifa M. HASSANAIN, 2016. "Waqf for Poverty Alleviation: Challenges and Opportunities," Journal of Economic and Social Thought, KSP Journals, vol. 3(4), pages 509-520, December.
    2. Shaikh, Salman Ahmed, 2015. "Developing an Index of Socio-Economic Development Consistent with Maqasid Al-Shari’ah," MPRA Paper 68746, University Library of Munich, Germany.
    3. Amir-Ud-Din, Rafi, 2014. "Maqāṣid al-Sharīʿah: Are We Measuring The Immeasurable?," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 22, pages 1-32.
    4. Dollar, David & Levin, Victoria, 2004. "Increasing selectivity of foreign aid, 1984-2002," Policy Research Working Paper Series 3299, The World Bank.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Maqasid al-Shari’ah; IDA; Poverty Alleviation; Human Development Index;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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