Waqf as a Financing Tool and Its Role in Achieving SDGs and Foreseeing the Future

Eiman Ahmad Mohammad Khaleel Al Hashmi, Zayed University

Document Type

Book Chapter

Source of Publication

Wealth Management and Investment in Islamic Settings

Publication Date

9-30-2022

Abstract

The significance of Waqf goes beyond being an act of worship that has been ordained to fulfill society’s welfare in many fronts, spiritual and material, individual and social, as well as here and hereafter. It is characterized as being one of the most pertinent tools of Islamic economics. This is due to its autonomy, flexibility, sustainability, and continuity, and its ability to achieve socioeconomic development for contemporary and future generations alike. The Waqf system have witnessed various stages of development in the light of the Islamic civilization to encompass all socioeconomic sectors; education, culture, healthcare, housing, services, politics, military, energy, infrastructure, food and water security, clean and affordable energy, and more. Proving itself to be capable of achieving high and advanced potentials of Sustainable Development Goals (SDGs). This chapter aims at investigating the capacity and flexibility of Waqf, and its ability to achieve advanced progress towards various SDGs. The challenges facing Waqf and hindering it from achieving its great potentials are analyzed and solutions and policy recommendations would be presented.

Publisher

Springer Nature Singapore

First Page

333

Last Page

355

Disciplines

Islamic Studies | Social and Behavioral Sciences

Keywords

Waqf, Sustainable development goals, Islamic civilization, Financial tools

Indexed in Scopus

no

Open Access

no

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