Awqaf-led Islamic Social Finance : Innovative Solutions to Modern Applications book cover
1st Edition

Awqaf-led Islamic Social Finance
Innovative Solutions to Modern Applications

Edited By

Mohd Ma'Sum Billah

ISBN 9780367546403
Published April 29, 2022 by Routledge
326 Pages 53 B/W Illustrations

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Book Description

This book provides an authoritative and comprehensive overview of Waqf (endowment), addressing specific issues, models, solutions, structures and practices. As Islamic finance has gained in significance, so too has the institution of Waqf, working towards creating an enterprising and an entrepreneurial community across the globe, in order to meet the underlying objectives of the sustainable development goals (SDGs) by targeting the low-income group in particular.

The book analyses the historical context of Waqf as well as its revival in the digital era. It addresses the laws and policies affecting the management of Waqf, such as Maqasid al-Shari’ah, law and policies, law and fiscal reform, regulations applied within Muslim countries, judicial procedures and dispute resolutions and covers the core issues concerning the formalities of Waqf, its management and corporate governance questions. The book includes a series of specialised chapters focusing on the products and services of Waqf, covering product innovation, product development, and then assesses the risk factors in Waqf and Waqf Takaful. Finally, it focuses on the challenges of Waqf and offers recommendations for the way forward.

A timely and practical guide, comprising a literature review and future research directions, as well as a number of international case studies, this will be a key reference for academics, students, researchers, practitioners and policy makers.

Table of Contents

About the Author

List of Figures

List of Tables

Scientific Advisory Body






Part I Awqaf: Its World View

Chapter 1 Emergence of Awqaf Development Centre: A Mind-mapping Idea

Mohd Ma'Sum Billah

Chapter 2 Awqaf LedNeo Endowment in Supporting Socio-Economic Development

Mohammed Fawzi Aminu Amadu & Mohd Ma’Sum Billah

Chapter 3 Objectives of Awqaf within the Classical Discourse and their Modern Implications

Mohammad Abdullah

Chapter 4 Role of Awqaf as an Economic Driver

Hisham Dafterdar

Chapter 5 Genesis of Awqaf –A Lesson to Learn From the French Literature on Ottoman Empire

Abderrazak Belabes

Chapter 6 Contemporary Approach in Productive Awqaf Development

Hendri Tanjung, Imam Teguh Saptono & Imam Nur Aziz

Chapter 7 Utilizing Awqaf in Modern Muslim Minority Societies

Sheikh Haitham al-Haddad & Umer Suleman

Part II Awqaf: Its Law and Policies

Chapter 8 Gender Justice in the Law of Awqaf Syed

Khalid Rashid

Chapter 9 Developing a Waqf Market and Reconceptualizing Awqaf Governance Via Regtech

Zakariya Mustapha & Aishath Muneeza

Part III Awqaf: Its Applications and Experiences

Chapter 10 Poverty Alleviation through Islamic Social Finance in Agro-sectors-An Experience of Northern Ghana

Abdul-Jalil Ibrahim & Mohd Ma'Sum Billah

Chapter 11 Developing Awqaf through Cash Waqf

Hichem Hamza

Chapter 12 Islamic Social Finance Reform-Hibah a Catalyst for Awqaf Advancement

Noor Shahalina Binti Jamaludin & Shaikh Hamzah Abdul Razak

Chapter 13 Edu-Waqf Model- An Analysis of Selected OIC Member Countries

Mustafa Omar Mohammed, Mohamed Cherif El Amri & Souhaila Guedira

Chapter 14 Smart Waqf City for Education-An Experience in Darussalam Gontor, Indonesia

Magda Ismail Abdel Mohsin & Aminuddin Maruf

Chapter 15 Empirical Investigation on Awqaf and Its Socio-Economic Impact in Malaysia

Muhammad Iqmal Hisham Kamaruddin, Mustafa Mohd Hanefah & Rosnia Masruki

Chapter 16 Awqaf-Its ASEAN Experiences and a Lesson to Learn

Lisa Listianaa & Dian Masyitab

Chapter 17 Integrated Social and Productive Awqaf in Indonesia

Ascarya, Raditya Sukmana & Muhamad Nadratuzzaman Hosen

Chapter 18 Waqf Led Social Finance in Poverty Alleviation-An Experience in Khyber Pakhtunkhwa, Pakistan

S. Ghisaul Haq & Suhail Ahmad

Chapter 19 Youth Empowerment and the Application of Cash Waqf-An Experience in Kano State, Nigeria

Nura Abubakar Gwadabe & Asmak bint Ab Rahman


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Mohd Ma’Sum Billah is Professor of Finance and Insurance at the Islamic Economics Institute, King Abdulaziz University, Jeddah, Kingdom of Saudi Arabia.