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Awqaf-led Islamic Social Finance: Innovative Solutions to Modern Applications

Emergence of Awqaf Development Centre: A Mind-Mapping Idea Central idea Rational outlook Concerned issues and problems Flagships Strategic plan Conclusion Notes References Awqaf-Led Neo-Endowment in Supporting Socio-Economic Development Introduction Literature review What is Waqf How Waqf was used Tapping into the potential of Waqf The model Critical success factors No state interference Transparency Accountability Important considerations The case The Waqf proposal Interventions to be made with funds from management of Waqf Benefits of the Waqf project — direct and indirect Recommendation Conclusion Notes References Objectives of Awqaf within the Classical Discourse and Their Modern Implications Introduction The origin and conceptual mechanism of waqf The objectives of waqf in shariah Contextualising the waqf and policy recommendations Conclusion Notes References Role of Awqaf as an Economic Driver Introduction Historical overview The third economic sector Custody and management of awqaf Creating an enabling legal environment The business face of awqaf Sustainability and profitability of awqaf Awqaf public and private sector partnerships Awqaf support of SMEs Awqaf’s financial support Awqaf’s non-financial support Microfinance by awqaf Policy implication Conclusion Notes References The Perception of Waqf as a Financial Institution – A Lesson from the French Literature on Ottoman Empire Introduction Literature revue and epistemological posture Data collection protocol Contextualization and analysis of fundamental ideas Statute for self-governing administration of Islamic religious and Vakuf-tnearif activities in Bosnia-Herzegovina Effect of the project for the establishment of an awqaf bank in Bosnia-Herzegovina in 1900 on the launched in Turkey in 1914 Conclusion Notes References Contemporary Approach in Productive Awqaf Development Analysis Cash Waqf linked sukuk (CWLS)CWLS products Risk management of CWLS Target market of CWLS Beneficiaries of CWLS Innovation in Waqf blockchain Waqf blockchain as new innovation Liquidity Transparency Awareness Bringing the blockchain into Islamic fintech What is the state of blockchain today?References Utilizing Awqaf in Modern Muslim Minority Societies An overview The economic role of waqf Waqf and social-political development Waqf in non-Islamic societies and systems Contemporary awqaf in key non-Muslim countries India, a non-Muslim country with one of the largest awqaf in the world Singapore, a model for functioning awqaf in a non-Muslim country Lessons for Muslim minorities Waqf and UK regulation Towards reviving the practice of waqf, the model of the National Waqf Fund (NWF) in the UK Assets value: $32,892,664 Charitable income raised: $12,448,074 Properties in trust: 145 Notes References II Awqaf: Its Law and Policies Gender Justice in the Law of Awqaf Introduction Ownership and gender Rights of Muslim woman in the law of waqf She may create a waqf Pardanashin ladies may revoke the waqf they create — a special privilege She decides the objects of a waqf she creates She may appoint mutawalli and lay down the administrative structure of the waqf Powers of a tnutawalli woman A few historical and contemporary evidence of women as dedicators, beneficiaries and administrators of awqaf Woman as founder of waqf Women as beneficiaries of awqaf Woman as mntawalli Conclusion Notes References Developing A Waqf Market and Reconceptualising Awqaf Governance via Regtech Introduction Current state of waqf and its potentials in relation to Islamic finance Idea of waqf market Waqf market or social capital market?Financial technology (fintech) and waqf delivery: the case of blockchain technology Disruption to existing regulatory regime: regtech to the rescue Regtech solution for waqf market governance Application of regtech in waqf Relevant tools for facilitating regtech in waqf governance regtech Possible concerns and issues in regtech for waqf governance Conclusion Notes References III Awqaf: Its Applications and Experiences Poverty Alleviation through Islamic Social Finance in Agro-Sectors – An Experience of Northern Ghana Introduction Economy of Ghana with focus of northern Ghana Northern Ghana Overview of the agriculture sector Financing modes and challenges Applying Islamic social finance in agricultural financing Islamic social finance Zakat (alms)Sadaqah (charity)Waqf (endowment)Leveraging Islamic social finance to attract impact investors into the agriculture sector Islamic finance instruments for agriculture financing and risks management Musharakah (partnership)Muzar’ah (partnership in crop)Wakalah (agency)Salam (sale by differed delivery)Risk management and investment protection in applying Islamic venture capital instruments Conclusion Notes References Developing Awqaf through Cash Waqf Introduction Growing role of cash waqf Governance of the relationship with donors Optimal waqf investment Development of waqf legislation Conclusion Notes References Islamic Social Finance Reform – Hibah a Catalyst for Awqaf Advancement Introduction Hibah as an important instrument in waqf advancement Definition of Hibah Hibah Al-Ruqba and Al-Umra Takaful Hibah Hibah Amanah Tabung Haji HibahAmanah TH Wasiyyah Shoppe Berhad The concept of cash waqf Objectives Literature review Theory of Planned Behavior Demographic profile Hibah preparedness confidence Goal clarity Attitude toward Hibah wealth distribution Hibah literacy and knowledge Sources of Hibah as wealth distribution Hibah as Fara’id denial?Research methodology Research findings Demographic data analysis Gender and ethnic Marital status Education background Employment Hibah literacy and knowledge Hibah as catalyst for cash waqf Investment products Legislation: waqf investment act Conclusion Recommendations Research limitation Notes References Appendix 12.1A: Wealth distribution channel findings Edu-Waqf Model – an Analysis of Selected OIC Member Countries Introduction The role of Waqf in education Edu-Waqf models State Waqf-funded model Cash Waqf-funded model Corporate Waqf-funded model Alumni Waqf-funded model Edu-Waqf models in selected OIC member countries Edu-Waqf model in Turkey Edu-Waqf model in Malaysia Edu-Waqf model in Indonesia Challenges and prospects of Edu-Waqf models Challenges of Edu-Waqf models Lack of awareness Trust deficit Financial and administrative autonomy Lack of regulatory framework Management issues Quality of human capital Accounting and reporting Lack of innovation Prospects of the Edu-Waqf models Standardized regulatory framework Sustainability of Waqffunds Innovation Collaboration and specialization Management Conclusion Note References Smart Waqf City for Education – an Experience In Darussalam Gontor, Indonesia Introduction Development of the Darussalam Gontor Smart Waqf City for Education Atiq Waqf Mosque Gontor Darussalam boarding schools Darussalam Gontor University Educational system in Darussalam Gontor Waqf City Educational system in Darussalam Gontor boarding schools Educational system in Darussalam University Financial sustainability of Darussalam Gontor Waqf City for Education Tuition fees from the boarding schools Income generated from the business units Expansion of Darussalam Gontor IVaqf City for Education Conclusion References Empirical Investigation on Awqaf and its Socio- Economic Impact in Malaysia Introduction Literature review Background of ivaqf Waqf management in Malaysia Socio-economic impact disclosure for waqf institution A case study in selected institution Background of Waqf Institution A Governance practices of Waqf Institution A Waqf socio-economic impact disclosure Conclusion Notes References Awqaf – Its ASEAN Experiences and a Lesson to Learn Indonesia Malaysia Structure of Labuan International Waqf Foundation Singapore Conclusion Notes References Integrated Social and Productive Awqaf in Indonesia Introduction Model and structure of waqf Social waqf Productive waqf Integrated social and productive waqf Integrated social and productive waqf in Indonesia Firdaus Memorial Park Integrated healthy house Jogokariyan Islamic Center Kuttab Al-Fatih — Sinergi Foundation Challenges faced by Nazir Funding Sustainability Human resource Technical experiences References Waqf-Led Social Finance in Poverty Alleviation – An Experience in Khyber Pakhtunkhwa, Pakistan Introduction Need for Waqf-led social finance Islamic microfinance and waqf Impact of Waqf-led Islamic microfinance in poverty alleviation Waqf and its impact on economic and social development: a case of Peshawar, Khyber Pakhtunkhwa, Pakistan Conclusion Recommendation Notes References Youth Empowerment and the Application of Cash Waqf – An Experience in Kano State, Nigeria Introduction Unemployment rate in Nigeria Impediment to youth empowerment in Kano Waqf and good governance Efficacy of cash waqf Application of cash waqf in Kano Suggestions and recommendations Conclusion Notes References

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