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Towards a new role of the institution of waqf

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  • Elasrag, Hussein

Abstract

Awqaf can be used not only to provide immediate necessities to the poor, but also to create or strengthen business support institutions that can lower the cost of doing business for the poor. Awqaf can also be used to support and build infrastructure institutions that can improve corporate governance and reduce the cost of doing business. For example, information bureaus, market regulatory bodies, the provision of accountancy services, and other such shared services for a group or for the entire society can be funded through waqf. Thus, this paper focuses on the application of these concepts and some possible roles that waqf may play in the socio-economic development of the Muslim societies.

Suggested Citation

  • Elasrag, Hussein, 2017. "Towards a new role of the institution of waqf," MPRA Paper 80513, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:80513
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    Keywords

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    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • F5 - International Economics - - International Relations, National Security, and International Political Economy
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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