Effects of Cash Waqfs on Sustainable Economic Development in the Balkans During the Early Modern Period

Cem Korkut ()
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Cem Korkut: Ankara Yıldırım Beyazıt University (AYBU)

Chapter Chapter 5 in Islamic Financial Institutions from the Early Modern Period to the 20th Century, 2024, pp 79-95 from Springer

Abstract: Abstract In the realm of economic development, various core factors lead to sustainable growth. Simply increasing economic activity doesn’t guarantee true development. “Waqfs,” especially within Islamic societies, play an essential role, acting as intermediaries to redistribute resources from wealthier sectors to the less privileged. The cash waqf, a subtype, combines charitable and economic aims for societal gain. The Ottoman Empire is noted for its widespread adoption of waqfs, with its influence extending from urban hubs to remote villages. In particular, the Rumelia province showcases the lasting impact of cash waqfs, which, over centuries, prioritized philanthropy and acted as financial agents. These entities supported educational, religious, and infrastructural needs while providing funding options for entrepreneurs. This chapter will delve into the ethos of cash waqfs and their role in fostering sustainable regional development, using primary sources such as establishment charters in the Shari’a Registers and the archives from the Directorate General of Foundations of the Turkish Republic. The study highlights the contributions of cash waqfs to areas like infrastructure, education, and poverty mitigation, seeking to link their objectives with broader sustainable development goals.

Keywords: Ottoman cash waqfs; Sustainable economic development; Balkans during Ottoman period (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-51318-3_5

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DOI: 10.1007/978-3-031-51318-3_5

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