The role of cash waqf in resolving the financing challenges for human development

M. Kabir Hassan, Aishath Muneeza and Paolo Biancone

Chapter 9 in Islamic Finance in Eurasia, 2024, pp 185-210 from Edward Elgar Publishing

Abstract: Covid-19 has turned back the global poverty clock. Even prior to the pandemic, it was a challenging task to financing human development needs. In the midst of the pandemic what has been realized is that there is a need to put in double the effort to resolve human development challenges. Cash waqf is an Islamic financial institution and a tool that could be used to overcome the financing challenges faced by human development. As such, the objective of this chapter is to explore the role of cash waqf in financing for human development by looking at the ways in which how in contemporary times cash waqf has been used for the purpose. In doing so, recommendations are proposed to enhance the role of waqf institutions in financing for human development. This chapter recommends a global waqf institution model for financing human development by uniting the Muslim nations. It is anticipated that the findings of the research will assist the policymakers and stakeholders of waqf to comprehend the significance of cash waqf in human development financing in the midst of the pandemic.

Keywords: Asian Studies; Business and Management; Development Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2024
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