The role of waqf in sustainable economic development

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Chapter 2 in Islamic Social Finance, 2023, pp 14-34 from Edward Elgar Publishing

Abstract: This chapter accentuates the relationship between Sustainable Development Goals (SDGs) and waqf. Ending poverty is one of the criteria getting attention in relation to SDGs and waqf plans. The relations between SDGs and waqf are presented in achievement and development forms. First, this chapter briefly explains the 17 goals of the SDGs and shows how SDGs connect with waqf, followed by the participation of the government in managing waqf practices. Next, the discussion is about the participation of the United Nations Development Programme (UNDP) initiatives in developing countries, including the waqf development approach in Malaysia. Finally, the roles of waqf as the third sector economy are presented. The third sector is a voluntary sector where the primary objective is not for profit but rather to defend and safeguard the welfare of society. The higher the public involvement in volunteer activities, the more significant the role of the third sector in building and enhancing a country's socioeconomic status.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (12)

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