Financial Development of the Waqfs in Konya and the Agricultural Economy in the Central Anatolia (Late Sixteenth-Early Seventeenth Centuries)

Abstract

<jats:sec><jats:title><jats:bold>Abstract</jats:bold></jats:title><jats:p>This study examines the financial history of three<jats:italic>waqf</jats:italic>s (those of Mevlânâ Celâleddîn-i Rûmî, Sadreddîn-i Konevî, and Selîm II) in Konya through their account records covering the late sixteenth and early seventeenth centuries. These waqfs (charitable foundations) had large agricultural holdings, and their financial developments consequently reflect the local agricultural conditions in central Anatolia. This analysis of the waqf account books deals with the short-term financial difficulties resulting from harvest failures and increasing grain prices. The widespread Celâlî rebellions seem to have caused agricultural crisis and the financial decline of waqfs in the early seventeenth century.</jats:p></jats:sec>

Critical assessment of Islamic endowment funds (Waqf) literature: lesson for government and future directions

“…(2019) Unit Trust Waqf can be used as waqf strategic investments for sustainable development. Financing Agriculture Orbay (2012) Waqf can be one of the instruments utilized in developing agriculture in Konya, but the natural environment and the social and political situation have negatively influenced agriculture development. Shafiai et al.…”

“…(2013) Abdullah and Saiti (2016) Thaker and Thaker (2015) Sulaiman et al. (2019) Financing Agriculture Orbay (2012) Shafiai et al. (2015) Moh'd et al.…”

“… Orbay (2012) suggested that awqaf can be utilized as an instrument to develop agriculture in Konya but that the natural environment and the social and political situations remain prime obstacles. Shafiai et al.…”

“…and possibly establish waqf-based banks ( Mohammad, 2015 ) that are distinct from other common banks. Moreover, awqaf can support the social and basic needs sectors, such as education and health ( Mahamood and Rahman, 2015 ; Shamsudin et al., 2015 ) and agriculture ( Shafiai et al., 2015 ; Orbay, 2012 ). Therefore, the government is expected to adopt this waqf instrument as important to socioeconomic development.…”

“…Financing Agriculture Orbay (2012) Waqf can be one of the instruments utilized in developing agriculture in Konya, but the natural environment and the social and political situation have negatively influenced agriculture development. Shafiai et al (2015) There should be mechanisms for the farmer to access finance, which may come from the integration of waqf and Islamic banks dedicated to financing agriculture.…”