2021
DOI: 10.1108/qrfm-05-2020-0085
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The global cash waqf: a tool against poverty in Muslim countries

Abstract: Purpose The problem of poverty in the Muslim world has been posing multi-faceted challenges to the life of individuals and the relations of people. Although this problem has been gaining scholarly attention and raised in relation to various issues ranging from social injustice, rampant corruption, societal instability, wide social polarization and insurgent movements that affect the regional peace and stability at large, neither effective economic mechanism proposed nor implemented to address the problem effec… Show more

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Cited by 39 publications
(39 citation statements)
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“…The five principles that have been developed are waqf administration and management, productive waqf development, the existence of companies in managing waqf assets and the principles of ibdal waqf and waqf linafsihi. Meanwhile, one main principle that has not been implemented is stock waqf-based assets (Saiti et al, 2021).…”
Section: Discussionmentioning
confidence: 99%
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“…The five principles that have been developed are waqf administration and management, productive waqf development, the existence of companies in managing waqf assets and the principles of ibdal waqf and waqf linafsihi. Meanwhile, one main principle that has not been implemented is stock waqf-based assets (Saiti et al, 2021).…”
Section: Discussionmentioning
confidence: 99%
“…The transformation of waqf has evolved in tandem with the dynamics of contemporary Islamic legal fatwas, such as the practice of cash waqf, as modernity has progressed (Aldeen et al, 2020;Arif, 2010;Cizakca, 2011;Saiti et al, 2021;Tutuko et al, 2017). In turn, the development of waqf assets in the form of money expands the development of waqf shares (Saiti et al, 2021). It implies undeniable corporate institutions' presence and participation in waqf practices.…”
Section: Literature Reviewmentioning
confidence: 99%
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“…More importantly, waqf assets have been instrumental in providing social and economic safety valves through their role in promoting religion, education, shelter, health, food security and rural–urban transformation. In the tenth century, the waqf was an effective vehicle for financing social economic development in Muslim societies, such as the Middle East and North Africa (Singer, 2008; Mohsin et al , 2016a; Saiti et al , 2021; Uluyol et al , 2021). The other studies in waqf the readers can refer to are Asni et al (2020), Salleh et al (2020), Talib et al (2020), Kuanova et al (2021), Medias et al (2021), Hapsari et al (2021), among others.…”
Section: Literature Review and Hypotheses Developmentmentioning
confidence: 99%
“…Zain and Muhamad Sori (2020) investigated the cases of the first SRI Sukuk released in Malaysia and other waqf -related sukuks that have been designed to produce waqf property/assets in the past. Saiti et al (2021) proposed a global cash waqf to tackle the poverty issues in Muslim countries. For the other areas of waqf research, the readers can refer to Che Azmi and Hanifa (2015), Abdullah (2019); Sulaiman and Alhaji Zakari (2019), Che Mohd Salleh et al (2020); Asni et al (2020) and among others.…”
Section: Background Of Previous Studies Around Waqf and Originalitymentioning
confidence: 99%