Issues Deterring the Continued Growth of Awqaf in Bangladesh: The Way Forward to Its Development and Widening the Scope of Its Benefits

Abu Umar Faruq Ahmad () and Muhammad Fazlul Karim ()
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Abu Umar Faruq Ahmad: Universiti Brunei Darussalam (UBD)
Muhammad Fazlul Karim: Ahmad Ibrahim Kulliyyah of Laws (AIKOL), International Islamic University Malaysia (IIUM)

Chapter 6 in Islamic Economies, 2017, pp 79-98 from Palgrave Macmillan

Abstract: Abstract The awqaf funds in Bangladesh own a huge amount of underutilized national assets, which have the potential to contribute immensely to the overall socioeconomic development of the country. This chapter seeks to share and explore the current status of the awqaf sector in Bangladesh from legal and regulatory perspectives and underlines the areas that need a fresh look for revitalization and utilization of awqaf. This paper primarily argues that the assets held by the awqaf properties could be utilized more efficiently to lift the poor segment of the population out of the ocean of poverty. This can be done by instituting necessary changes in awqaf management to align with current needs.

Keywords: Problems; Prospects; awqaf; Bangladesh; Socio-legal perspective; Waqfs Ordinance1962 (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1007/978-3-319-47937-8_6

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