Faithin Omaha eBook Collection

Download or read book A New Role for the Institution of Waqf written by Hussein Elasrag and published by Hussein Elasrag. This book was released on 2022-02-24 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.