Waqf Development: The Islamic Development Bank Experience

Magda Ismail Abdel Mohsin, Hisham Dafterdar, Murat Cizakca, Syed Othman Alhabshi, Shaikh Hamzah Abdul Razak, Seyed Kazem Sadr, Thamina Anwar and Mohammed Obaidullah
Additional contact information
Magda Ismail Abdel Mohsin: INCEIF – The Global University of Islami
Murat Cizakca: Ucuncu Nilufer Caddesi
Shaikh Hamzah Abdul Razak: INCEIF – The Global University of Islami
Seyed Kazem Sadr: INCEIF – The Global University of Islami
Mohammed Obaidullah: Islamic Research and Training Institute

Chapter Chapter 5 in Financing the Development of Old Waqf Properties, 2016, pp 221-236 from Palgrave Macmillan

Abstract: Abstract In this chapter we briefly present several activities, projects and programs carried out by the Jeddah-based Islamic Development Bank (IDB) Group to strengthen the global waqf sector. These include a range of interventions, such as creating a model law of waqf that is forward-looking along with the provision of technical and support services aimed at creating an enabling policy, legal and regulatory environment; undertaking cutting-edge research to document and disseminate good practices; building capacity through education and training of human resources; recovering lost waqfs through proper documentation and legal steps; engineering waqfs as part of its developmental operations to provide microfinance; and finally managing a fund to raise resources for asset development using state-of-the-art financial structures. Such initiatives are expected to further intensify, as waqf is fully entrenched in IDB’s long-term growth strategy.

Keywords: Poverty Alleviation; Total Investment; Muslim Society; Islamic Finance; Proper Documentation (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1057/978-1-137-58128-0_5

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