The Possible Role of Waqf in Ensuring a Sustainable Malaysian Federal Government Debt

Ambrose, Azniza Hartini Azrai Azaimi; Aslam, Mohamed; Hanafi, Hanira

doi:10.1016/s2212-5671(15)01205-8

Cited by 28 publications

(24 citation statements)

References 4 publications

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“…Kuran (2001) reports that the practice, which began even before the era of Prophet Muhammad (SAW), only reached its full potential during the Ottoman Empire, accounting for over one-third of the Empire's total revenue. One of the main reasons for its prevalence is the fact that during this time cash waqf was officially recognized as a legitimate waqf asset as opposed to the former predominant position that saw its practice limited to immovable assets such as land (Tahir and Mohammad, 2011;Ambrose et al, 2015). This is considered just one of many other developments in the operation of waqf.…”

Section: Ijif 132mentioning

confidence: 99%

Waqf governance in the Republic of Guinea: legal framework, issues, challenges and way forward

Sano

Kassim

2021

IJIF

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Purpose The purpose of this paper is to seek to establish an effective governance framework for waqf (Islamic endowment) in the Republic of Guinea that would assist in enhancing socio-economic activities and eradicating poverty in the country. Design/methodology/approach It examines key governing features within the said country’s waqf legal framework and undertakes a comparison with other countries’ legal frameworks. This paper also examines waqf-related legal references of Guinea and other countries and analyses relevant online sources such as journal articles, research papers, webpages as well as informal discussions with persons informed on the subject matter within and without the Republic of Guinea. Findings This paper identifies a number of prevailing issues affecting the development of the institution of waqf in the Republic of Guinea and, thereafter, proposes key reformatory measures. These include the passing of general codified legislation that comprehensively governs waqf affairs in the country and the setting up of a dedicated supervisory entity and competent managerial bodies to ensure the smooth and effective operation of the institution in the country. Originality/value This research proposes an innovative and befitting governance framework for waqf operations in the Republic of Guinea. These recommendations, if correctly adopted, would ensure the viability and efficacy of the institution of waqf in the Republic of Guinea and would lead to socio-economic development, as has been the case in other nations. Moreover, other countries with underdeveloped waqf governance systems could also model their waqf operations based on these recommendations, as they are most likely already encountering or going to encounter identical issues in this particular field.

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Section: Ijif 132mentioning

confidence: 99%

Waqf governance in the Republic of Guinea: legal framework, issues, challenges and way forward

Sano

Kassim

2021

IJIF

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“…Thus, the burden on the lives of needy and poor people will only disappear temporarily and subsequently will return to poverty (Ambrose et al, 2015;Aufseeser, 2020;Baloch et al, 2020;Hassan et al, 2019;Hassan & Aliyu, 2018;Heyneman & Lee, 2016;Imam & Kpodar, 2016;Jaime-Castillo et al, 2016).…”

Section: 1mentioning

confidence: 99%

“…Zakat is a predetermined right that must be issued for certain assets (Abdullah et al, 2015;Ahmad et al, 2015;Alim, 2015;Ambrose et al, 2015) Infaq is issuing assets that include zakat and non-zakat. Meanwhile, Shadaqah is all gifts with which we expect rewards from Allah SWT.…”

Section: Introductionmentioning

confidence: 99%

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The Other Side of Zakat in Poverty Reduction: A Phenomenology Study

2020

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This study aims to understand the phenomenon of zakat given to Mustahiq. The Mustahiq uses the zakat to increase income through business development so that it can reduce poverty. The research method used is qualitative using a phenomenology approach. This study interviewed three informants who received zakat. The results of this study reveal that zakat has a different spiritual value from taxes. When zakat is distibuted, it can increase the income of the grantees. BAZNAS management system must be carried out in a professional, transparent and accountable manner and aims at eradicating poverty and unemployment in Palu with a cultural approach based on faith. Besides, it helps the poor in community. One of the goals is to create some of muzakki and awareness of helping each other.

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“…When the funds come out of the pocket of the people, the people appreciate it more as opposed to the funds which they receive from the government without any consideration coming from themselves. Eventually, such efforts by the Islamic voluntary sector could in fact lessen the financing from the public and private sectors (Ambrose, Aslam and Hanafi, 2015).…”

Section: Financial Dimensionmentioning

confidence: 99%