Start Date : 12th July 2019
End Date : 12th July 2019
Venue : Sasana Kijang, Bank Negara Malaysia
Country : Malaysia
Total participant : 0
Total Interested : 0
Institution : INCEIF - The Global University of Islamic Finance, International Shariah Research Academy for Islamic Finance - ISRA
Islamic social finance tools have been instrumental in the alleviation of poverty and socio-economic development for over 1,400 years. Some of these instruments have been adopted and applied even outside the Islamic world. One instrument in particular - Waqf (endowment) – has been utilised even at the establishment of the Oxford University’s Merton College in 1264.
Although a significant number of waqf institutions exist globally, the success of these institutions rely on efficient governance, regulation, supervision mechanisms and effective management. Since most countries and regions do not have enabling waqf regulations or monitoring processes, the value and output of awqaf assets are mostly on the decline. The potential however, is enormous. Malaysia, for example, has waqf land valued at RM1.2 billion (Yayasan Waqf, 2016), with research suggesting that only 2% of total acreage has actually been developed.
|The World Bank-INCEIF-ISRA Waqf Report||2019||English|