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Waqf Development: The Islamic Development Bank Experience

In: Financing the Development of Old Waqf Properties

Author

Listed:
  • Magda Ismail Abdel Mohsin

    (INCEIF – The Global University of Islami)

  • Hisham Dafterdar
  • Murat Cizakca

    (Ucuncu Nilufer Caddesi)

  • Syed Othman Alhabshi
  • Shaikh Hamzah Abdul Razak

    (INCEIF – The Global University of Islami)

  • Seyed Kazem Sadr

    (INCEIF – The Global University of Islami)

  • Thamina Anwar
  • Mohammed Obaidullah

    (Islamic Research and Training Institute)

Abstract

In this chapter we briefly present several activities, projects and programs carried out by the Jeddah-based Islamic Development Bank (IDB) Group to strengthen the global waqf sector. These include a range of interventions, such as creating a model law of waqf that is forward-looking along with the provision of technical and support services aimed at creating an enabling policy, legal and regulatory environment; undertaking cutting-edge research to document and disseminate good practices; building capacity through education and training of human resources; recovering lost waqfs through proper documentation and legal steps; engineering waqfs as part of its developmental operations to provide microfinance; and finally managing a fund to raise resources for asset development using state-of-the-art financial structures. Such initiatives are expected to further intensify, as waqf is fully entrenched in IDB’s long-term growth strategy.

Suggested Citation

  • Magda Ismail Abdel Mohsin & Hisham Dafterdar & Murat Cizakca & Syed Othman Alhabshi & Shaikh Hamzah Abdul Razak & Seyed Kazem Sadr & Thamina Anwar & Mohammed Obaidullah, 2016. "Waqf Development: The Islamic Development Bank Experience," Palgrave Studies in Islamic Banking, Finance and Economics, in: Financing the Development of Old Waqf Properties, chapter 0, pages 221-236, Palgrave Macmillan.
    • Handle: RePEc:pal:psibcp:978-1-137-58128-0_5
    DOI: 10.1057/978-1-137-58128-0_5
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    Cited by:

    1. Hydzulkifli Hashim Omar* & Abubakar Yusuf Sanyinna, 2018. "Administrative Challenges of WAQF Institution in the Contemporary World: Future Prospects," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 294-299:6.

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