Role Of Waqf Research Articles

Waqf Business Model (WBM): Towards A Sustainable Social Business Model on The Mainstream Economics

The Waqf Business Model (WBM) represents an innovative and transformative approach to establishing a sustainable social business model within mainstream economics, rooted in Islamic economic principles. This paper explores the current state of waqf as an alternative model for social business, emphasizing its ability to combine social impact with long-term economic sustainability by preserving assets and generating ongoing revenue. It also advocates for integrating WBM into the mainstream economy to serve as a powerful mechanism for addressing the Sustainable Development Goals (SDGs). The paper highlights the challenges faced by traditional Islamic economic institutions, particularly waqf, which have struggled due to outdated management practices and a conceptual crisis regarding the role of waqf in modern economies. Revitalizing waqf institutions requires enhancing their capabilities and aligning them with contemporary business strategies. Additionally, this paper encourages future research to explore how WBM can be fully integrated into the existing economic ecosystem. In theory, WBM provides a framework for ethical and inclusive economies, while in practice, it has the potential to create self-sustaining institutions that reduce reliance on external aid, offering an innovative solution to global socio-economic challenges by blending sustainable innovation.

PENGELOLAAN WAKAF SEBAGAI SARANA PENINGKATAN STRATEGI EKONOMI UMAT

Waqf is one of the instruments in the sharia economy that has the potential to improve the welfare of the community. As an economic instrument waqf also plays a role to support various productive activities and redistribution of welfare to underprivileged communities and play a role in the development of the social, economic, and cultural life of the community. Also, in Islam waqf becomes a more expensive instrument to invite its managers to have an entrepreneurial spirit where waqf assets as capital and the result of the management of waqf property is used for the economic development of the community. This study aims to find out how waqf management strategy and how the role of waqf in improving the economy of the people. The study methodology used is the qualitative method. The results obtained in this study that the strategy in its management such as determining the standard of professionalism nazir because nazir has an important role in the management of waqf. Counseling the community so that the community better understands waqf is not only limited to waqf inanimate objects. Issued a law that discusses in full waqf both in terms of procurement, management, and distribution of the results of the management of the waqf so that the waqf can be a means of improving the economy of the people. And the establishment of a professional national waqf institution that is ready to supervise every development of waqf. Waqf has a role in strengthening brotherhood in the community as well as in the development of social life, economy, and culture of the community. Wakaf also serves as an instrument of public finance shari'ah which has great potential in generating financing for the State, improving the welfare of people, developing social, economic, and cultural activities of Islamic society.

A Preliminary Handlist of Manuscripts from the Library of al-Ashraf Qāytbāy

Abstract This article provides a preliminary handlist of manuscripts that were once owned by the late-Mamluk sultan al-Ashraf Qāytbāy (r. 1468–1496). For well over a hundred items currently scattered across the globe, it details the location, author, title, copyist and page length, as well as the link to Qāytbāy. Introducing the list are some precursory observations regarding the languages represented therein, the identity of the copyists involved, the potential role of waqf in the manuscripts’ post-1517 trajectory, and some later forgeries. In the absence of a contemporaneous catalogue, it will allow scholars to form a more balanced picture of Qāytbāy and of late-Mamluk book and cultural history in general, and will help them overcome some detrimental institutionalized divisions.

The Legacy of the Waqf Institution in Kosovo during the Period of Sultan Abdulhamid II

This article explores the history of the establishment of Ottoman waqf institutions in Kosovo, with specific emphasis on the reign of Sultan Abdulhamid II. Through the analysis of primary sources from the Ottoman Archive in Istanbul and the General Directorate of Foundations Archive in Ankara, the study provides a comprehensive overview of the awqaf established by Sultan Abdulhamid II himself, statesmen and the common people known as reaya. The research found that while the first waqf institutions in Kosovo were established by sultans and were large complexes known as külliye, later in the late nineteenth and early twentieth centuries, they were established more by the people of the region and were usually small places of worship and other waqf institutions that provided material income such as shops and monetary foundations. The implications of these findings shed light on the role of waqf in the development of Kosovo’s social and economic structures during the late Ottoman period.

The Role of Waqf in Achieving the Purposes of Islamic Law

The Role of Waqf in Achieving the Purposes of Islamic Law

Cash waqf innovation in Islamic financial institutions and its governance issues, case studies: Indonesia, Malaysia, Türkiye

Purpose This study aims to examine the potential for waqf innovation to be developed as products and services by Islamic financial institutions, identify the barriers and facilitators to the implementation of cash waqf governance in Indonesia, Türkiye and Malaysia, and to explore how pandemics have influenced the role of cash waqf practices in the three countries. Design/methodology/approach This study adopts a qualitative approach with an interpretative perspective, drawing on ecology theory and Ibn Khaldun’s thought. The research method includes conducting literature reviews and interviews to explore the concept and significance of cash waqf, the offerings of Islamic financial institutions and the mechanisms for good governance of cash waqf to bolster the proposed model. Findings The finding shows that a model of cash waqf governance that outlines the relationships and interactions with the goal of advancing cash waqf. The use of technology, specifically computer technology, further strengthens these interactions. Research limitations/implications This study suffers from several limitations, such as the number of countries in the sampling. Thus, future research opportunities include exploring similar initiatives in other countries and examining the connections between different sub-fields within the global cash waqf practice. Originality/value The contribution of this study serves as a guide for cash waqf organizations to promote professional, responsible and accountable management practices; reduce the risks faced by waqf managers and support them in making improvements to enhance the role of waqf in Indonesia and elsewhere; as well as provide a reference for the government and waqf agencies in promoting the importance of cash waqf governance in the country.

The Role of Waqaf and Zakat as Fiscal Policy Instruments in Indonesia

The role of zakat and waqf is huge in terms of helping the poor in Indonesia as they have many benefits if we implement them. The alternative and strategic solution offered by Islam is none other than a productive and creative zakat management (distribution and utilization) system. With the management as intended, it is hoped that it can empower the poor to become Aghniya (the rich) and make Mustahiq become muzakki. Likewise, waqf has many benefits, especially in terms of helping the poor to improve their welfare. Therefore, this study aims to examine the role of waqf and zakat as instruments of fiscal policy in Indonesia. The research was conducted using qualitative methods and the technique used by researchers was the library research method. The library method is research conducted by reading articles from journals as well as data from the Central Bureau of Statistics and the Indonesian Waqf Board using a literature review. The data used is time series data and the time of this research was between 2019 and 2022. Data sources were obtained from BAZNAS (National Amil Zakat Agency), BPS (Central Statistics Agency), and BWI (Indonesian Waqaf Agency). The results of the study show that waqf and zakat in a country’s macro-economy are very significant as fiscal policy instruments, positive impacts in various fields, especially economic and social in Indonesia, especially in increasing aggregate consumption to increase the country’s income level. Keywords: waqaf, zakat, fiscal policy

Integrated Waqf Farm: A Contemporary Model for Waqf Land Development

The important role of waqf is felt to have been greatly reduced recently, due to various problems faced in developing waqf land. The lack of nazhir competence, limited development capital, and management that is not yet professional are some of the many problems in waqf. Various approaches are needed to close this problem, such as changing the form of waqf, cooperation between lines, and other alternative innovations. This research aims to reveal contemporary innovation models in integrated agricultural waqf land development and analyze the benefits, opportunities, costs and risks using the analytic network process approach-Benefit, Opportunity, Cost and Risk (BOCR). This research design uses an interpretative paradigm with a qualitative approach in the form of a case study. Through content analysis, data obtained from interviews is then interpreted according to the research objectives. This research reveals that there are two types of innovation developed through the integration of agriculture in waqf development. �Bersamamu sadar ternak� is a livestock-based innovation, this innovation is the result of collaboration with farmers to produce sheep without costs being charged to partners. To strengthen the existence of tourism on this waqf land, "Kopi Bersamamu" is the next caf�-based innovation. Through BOCR analysis among waqf experts, "waqf land becomes productive" is the benefit element that is considered the most important with an average of 0.34. "Business development opportunities" is the most important element in the opportunity elements with a mean of 0.38. Meanwhile, "high costs for technology, management and maintenance" is considered the highest element in the cost aspect. Finally, "Shariah compliance risk" is the greatest risk in developing agricultural-based waqf land with an average of 0.45

Analysis of the Effectiveness of Waqf Policy Management for Tafakulink Salam Products at PT Tafakul Keluarga, Medan Branch, in Accordance with the Fatwa of DSN MUI Number 106 of 2016

Waqf in Islamic insurance, especially in products like Takafulink Salam, exhibits significant differences from conventional waqf, which typically involves the preservation of buildings or land by past communities. The research aims to analyze the role of waqf in Sharia-compliant insurance products and to comprehend the concept of waqf as a worship and social instrument in the context of Sharia insurance. The research methodology involves in-depth interviews and documentation techniques focusing on the waqf pledge within Sharia life insurance policies, fee provisions within policies, and other aspects regulated by relevant regulations and fatwas. The research findings indicate that waqf pledges are made on various occasions, such as the end of the agreement period, redemption by policyholders, or the death of the main participants. Financial aspects, including fees, are regulated by the Financial Services Authority Regulation (POJK) Number 69/POJK.05/2016. Fatwa DSN No.52/DSN-MUI/III/2006 provides guidelines regarding the contract of agency with a fee in Sharia insurance. The research concludes by emphasizing the important role of waqf in Sharia insurance, creating social and worship benefits, and illustrating the integration of waqf in Sharia insurance products such as Takafulink Salam. Although related to insurance, the concept of waqf remains distinct as a form of worship that supports social development.

The Role of Waqf in the Development of Islamic Education

The Role of Waqf in the Development of Islamic Education

Waqf for accelerating socioeconomic development: a proposed model with focus on Pakistan

PurposeThe unique institution of waqf that was ignored during the colonization of the Muslim areas has to be revived to play its role in shared growth, social inclusion and cohesion in society. This research paper aims to explore the role of waqf as an instrument for a sustainable growth system and to suggest a model for socioeconomic development in an economy like that of Pakistan.Design/methodology/approachThis qualitative research is based on analytical methods to arrive at the frameworks and a model that could facilitate the revival of waqf for community development/social inclusion in economies like that of Pakistan.FindingsAs most of the OIC member states like Pakistan are facing serious financial problems due to debt servicing obligations, promoting Waqf for various socioeconomic and cultural functions is a vital requirement for such economies. The inability of the state institutions in providing necessary civic, health and education facilities to the public is causing serious harm to the balance of the society. It requires promoting a formal system of charity and using FinTech for waqf-based donations and financing the micro businesses. The perpetuity complimented by the profitability of the waqf properties makes the waqf institutions sustainable and effective when compared to individual charities.Research limitations/implicationsThis is conceptual research discussing the potential of waqf in light of its historical role. Researchers may undertake empirical studies on awqaf operations in various jurisdictions and their role in the empowerment of the poor.Practical implicationsThe research will provide the researchers with insight into the potential of waqf as a tool for community development. Besides, it will enable policymakers and implementation authorities to socialize charity for sustained benefits and welfare.Originality/valueTo the best of the authors’ knowledge, it is the first major research that discusses the role of waqf in economies facing budgetary and trade deficits in the eradication of poverty and the promotion of social and economic entrepreneurship in realizing the community development targets for the economies like that of Pakistan.

Wakaf Tunai dalam Sistem Keuangan Islam

Waqf, in this case cash waqf, has only been understood as a sunnah worship that has a jariyah reward to be practiced. This kind of understanding makes waqf not develop even though waqf has socio-economic benefits to strengthen the financial system in Indonesia. The purpose of this research is to find out how the role of waqf in the Financial System, the discussion is focused on the concept, regulation and implementation of cash waqf in Indonesia. The method used is descriptive qualitative where the method is used to understand the symptoms that occur without requiring quantification. The results of the study explain that waqf has a very vital role in strengthening the Financial System in Indonesia. This role can be explained in the agricultural sector, as well as strengthening the national economy through the Cash Waqf Linked Sukuk (CWLS) program.

Waqf Transformation: Public Investment Opportunities for Sustainable Development

This Islamic philanthropic concept has undergone a significant transformation, adapting to the dynamics of modern society, changing the concepts of the wakaf from simple to complex socio-economic instruments, in line with the economic and technological dynamics. The objective of the research is to identify the role of waqf in addressing social and economic challenges, as well as to evaluate its positive impact on sustainable development, also to investigate the development of waqf in the context of modern society undergoing significant transformation. The research method used is library research, by conducting a general review of previously published literary works on a wide range of topics. The Islamic financial institutions provide financial products in accordance with the Shariah, facilitating the efficient management of the Wakaf. Technology, in particular blockchain, provides transparency in waqf asset management. Productive Wakaf and innovative projects such as higher education centres or hospitals support sustainable development. This research provides insight into the evolution of waqf as a public investment instrument with a positive impact on economic growth and society's well-being. The Wakaf transformation reflects a strategic effort to optimally utilize the funds to the goals of sustainable development in the context of modern society.

A HISTORICAL OVERVIEW OF WAQF

This research delves into the historical evolution of Waqf, an Islamic philanthropic institution with centuries-old roots. Tracing its origins to early Islamic societies, the study examines how Waqf has adapted to diverse cultural landscapes and contributed to social welfare. Through an interdisciplinary approach, it explores legal frameworks, socio-economic impacts, and the role of Waqf in shaping communities. This historical overview aims to deepen understanding of Waqf's enduring significance and implications for contemporary socio-economic structures. The main objective of this research is to undertake an overall relevance of the historical Waqf in the Islamic Economic system. It will elaborate on Waqf juristically, classically and modernly. The study explored various aspects such as Waqf's meaning, different definitions by several religious schools of thought, historical origins, and legitimacy of the Waqf based on Quranic Verses and Hadith of the Prophet (PBUH). Throughout Islamic civilization, Waqf played a vital role in Muslim society, given that the needs of the Muslim Ummah were complex and growing. The objective of Waqf is to promote social welfare and to contribute to economic development. The potential of the institution of Waqf is excellent; it can assist the government in countless state responsibilities.

PERAN DANA SOSIAL (WAQF) DALAM MENDORONG PERTUMBUHAN EKONOMI DAN PENGENTASAN KEMISKINAN DI NEGARA-NEGARA MUSLIM

The welfare of Islamic countries is always in the spotlight. It is recorded that around 27.2 percent of the total population of Islamic countries has an income of around 15 thousand rupiah. This illustrates that Islamic countries experience economic difficulties compared to other countries in the world. One of the instruments in efforts to encourage economic growth and efforts to eradicate poverty in Muslim countries in particular is through social funds (waqf). Waqf is one of the instruments in improving economic welfare and alleviating poverty. The research we conducted aims to examine the extent of the role of waqf in realizing the economic welfare of society and the country's economy. The method used in this research is a qualitative method with a literature study approach by taking relevant sources as references for the research we conducted. The research we conducted showed that social funds (waqaf) have a very big role in efforts to alleviate poverty in Islamic countries. One way is the cash waqf approach, although it has not been used optimally, cash waqf has a role in reducing poverty. The government's role is also very important in controlling waqf social funding institutions.

Educational waqf (endowment) in artificial intelligence programs: Toward a new form of waqf

Waqf entails locking-up the title of an owned property and allotting the benefits for charitable purposes. It is among the most emphasized acts of righteousness in Islam, emphasizing social justice, collective good deeds, and fair distribution of wealth. The main legislation regulating and governing waqf in the United Arab Emirates (UAE) is the Federal Waqf Law No. 5 of 2018, largely derived from Islamic law (Shari’a). This study discusses the possible benefits of applying the waqf system in educational programs related to artificial intelligence (AI) in the Emirate of Dubai. It discusses the general legal rules of waqf in UAE law and its applications in the field of education, as well as its potential role in AI programs. It concludes that waqf can nowadays play a distinguished role in promoting investment in educational programs in Dubai, particularly with regard to AI. The present study paves the way for a better understanding of the role of waqf in the field of education and its results contribute to the growing literature on the subject.

The Role of Waqf In The Classic Islamic Education Period

Waqf is said to be a virtue, because waqf is the surrender of property for social purposes, the purpose of which is not solely to get closer (taqarrub) to Allah SWT in order to get a reward from Him, but this waqf donation is worth continuous. This study aims to determine the role of waqf during the classical Islamic education period. This type of research is library research. The results of this study are : education during the heyday of classical Islam was not due to very large financial support from the government but due to the large participation of the community in supporting the development of science, especially in terms of funding, which was manifested in the form of endowments. If the cost of education can be covered by funds raised from waqf then Islamic education will be better in the future, therefore waqf must be managed professionally in the framework of advancing Islamic education in the future. Waqf as a financial supporter of the implementation of classical Islamic education, places a large role of waqf which functions as a financial support, to the implementation of education during the classical Islamic period, there is a very clear relationship. The needs in the world of education at that time were fulfilled properly by waqf

The Role of Waqf Resources in Empowering the Bangsamoro Communities in the Philippines

The study of the role of waqf in empowering the Bangsamoro communities in the Philippines provides fresh insights into the potential benefits that waqf, a traditional Islamic endowment practice, may bring to these communities. The research explores how waqf when strategically utilized, could address persistent socio-economic challenges such as lack of funding for a business, inadequate health services, and the inaccessibility of quality education. Using survey data collected from Bangsamoro communities across various demographics, we examine the residents' perspectives on the potential effectiveness and viability of deploying waqf's resources to solve capital problems for businesses, provide health services, and support education for various family members. The data also measures the perceived potential of using waqf sources for initiating business training centers for the poor and promoting overall community development. The analysis sheds invaluable light on the practicalities of incorporating waqf within the existing systems, uncovering its viability as a tool for the empowerment and socio-economic advancement of Bangsamoro communities. This research contributes to the discourse surrounding sustainable, culturally relevant strategies for the utilization of traditional practices in contemporary contexts, providing a seminal resource for policymakers, academicians, and development practitioners interested in the intersection of economic development and cultural traditions.

Peran Wakaf Tunai Dalam Pengembangan Ekonomi Pondok Pesantren Darul Hijrah Di Sungai Rengas Kabupaten Batanghari

This research is entitled The Role of Cash Waqf in the Economic Development of the Darul Hijrah Islamic Boarding School on the Rengas River, Batanghari Regency. The aims of this study are: 1) To find out how cash waqf is managed at the Darul Hijrah Islamic Boarding School. 2) To find out the role of cash waqf in the economic development of the Darul Hijrah Islamic Boarding School. The research method used by researchers is a qualitative approach. The results of this study are: 1) In the process of managing waqf funds at the Darul Hijrah Islamic Boarding School, the fund management function starts from planning to realization. These stages are applied in every waqf fundraising process, the business preparation process, the placement of workers to the allocation of operating proceeds. In the implementation of waqf fund planning at the Darul Hijrah Islamic Boarding School, including: Planning for types of business, Planning for waqf sources, Planning for managing the business needed, and Planning for income to be obtained and where to distribute it. The source of cash waqf funds at the Darul Hijrah Islamic Boarding School comes from the waqf of the local government, parents of students and the general public. While the types of Islamic boarding school economic businesses funded by waqf funds are oil palm plantations, canteen businesses and buffalo livestock. 2) The forms of waqf in the Darul Hijrah Islamic Boarding School are in the form of cash waqf, immovable waqf. Waqf of immovable objects in the form of palm oil fields and buffalo livestock. In addition, the waqf received is also in the form of cash and other objects such as building materials, food ingredients and Al-Quran manuscripts. This form of waqf is used for, 1) Development of Islamic boarding schools, 2) Consumption of students, 3) Learning facilities and infrastructure, 4) Honorarium of teachers and 5) Economic activities of Islamic boarding schools. 3) The existence of waqf funds at the Darul Hijrah Islamic Boarding School plays a very important role for the economy of the pesantren residents at the Darul Hijrah Islamic Boarding School in 3 ways, namely, firstly creating jobs for the students and for the pesantren's teachers, secondly increasing income for the students, teachers and the pesantren itself to meet daily needs and help meet the needs of Islamic boarding schools, thirdly increasing business capabilities for Islamic boarding school students and teachers in terms of sales, business and business management. As a result, the role of the waqf is able to increase the economic independence of the Darul Hijrah Islamic Boarding School in the income of students and teachers, honorariums for teachers, and consumption as well as the development of Islamic boarding schools.

Mauquf’alaih as a waqf accountability center (prophetic social approach)

Purpose - This study aims to explore Kuntowijoyo's prophetic social thinking to make mauquf ‘alaih the main focus of waqf accountability.Method - This research is a conceptual paper that attempts to construct the concept of waqf accountability in a prophetic social approach.Result - The author's opinion emphasizes the rights of the mauquf ‘alaih by highlighting how the accountability role of waqf needs to shift emphasis from serving stakeholders hierarchically to being re-engineered towards beneficiaries (mauquf ‘alaih). This requires a reconceptualization of the meaning of waqf, which must be seen as part of a wider effort to achieve social justice and the welfare of the ummah. In this case, the prophetic social value is considered as the conceptual framework.Implication - Theoretically and contextually prophetic social principles are able to give birth to a reorientation of waqf accountability towards deeper humanist and emancipatory realizations, as well as more holistic and religious accountability practices.Originality - This research is the first study that used prophetic sosial approach in waqf accountability.