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Forms of Waqf Funds and SDGs

In: Islamic Wealth and the SDGs

Author

Listed:
  • Hichem Hamza

    (King Abdulaziz University)

Abstract

Historically, property waqf and perpetual waqf have prevailed the waqf landscape despite some issues regarding the management of waqf resources and assets. In recent decades, the property waqf is completed and reinforced by the cash waqf thanks to its flexibility regarding resources mobilization and waqf investment. In this context, the waqf resources mobilization and their allocation can be performed through multiple instruments, the most important of them are the waqf funds whose permissibility is derived from the permissibility of cash waqf in its perpetual and temporary forms. The dimensions and goals of waqf and by consequence the waqf funds are potentially in line with the dimensions and goals of sustainable development. In this regard, the present Chapter examines the role of waqf funds forms in achieving the SDGs taking into consideration the convergence of waqf funds with the SDG. In fact, the waqf funds are characterized by their capacity to involve institutions, individuals, and governments in the waqf operation to meet the social challenges. Furthermore, the waqf funds forms vary according to the waqf strategy of the waqf institutions and can be divided into three principles forms: pure investment waqf funds, specialized waqf funds, and Qard Hassan waqf funds. This multiplicity of waqf funds can support sustainable development, principally education, health, poverty, microfinance, and entrepreneurship projects. This chapter focuses on the balanced existence of waqf funds forms to contribute efficiently to the realization of SDG.

Suggested Citation

  • Hichem Hamza, 2021. "Forms of Waqf Funds and SDGs," Springer Books, in: Mohd Ma'Sum Billah (ed.), Islamic Wealth and the SDGs, chapter 0, pages 485-499, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-65313-2_25
    DOI: 10.1007/978-3-030-65313-2_25
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