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Waqf Resource Mobilization for Poverty Alleviation Based on Maqasid Framework

Khalifa Hassanain ()

No 2018-3, Policy Papers from The Islamic Research and Teaching Institute (IRTI)

Abstract: This study adopts the framework practiced by various multilateral development banks (MDBs), particularly International Development Association (IDA), to explore the potential establishment of a global Waqf fund, as this framework is proven effective. The framework revolves around the IDA operations with replenishments, allocation of funds by implementing specific formulas and the determination approach, which is mainly to monitor effectiveness of the earlier processes. The study proposes to integrate Islamic vision of development based on Maqasid al-Shari’ah with IDA principles for the allocation of funds for a potentially global Waqf fund. The objective is to create more effective approach for raising and using resources for a global Waqf fund.

Keywords: Maqasid al-Shari’ah; IDA; Poverty Alleviation; Human Development Index (search for similar items in EconPapers)
JEL-codes: E02 O15 O19 Z12 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2018-11-08
New Economics Papers: this item is included in nep-isf and nep-mac
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