The Economic Significance of Waqf: A Macro Perspective

Budiman, Mochammad Arif; Kusuma, Dimas Bagus Wiranata

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The Economic Significance of Waqf: A Macro Perspective

8th International Conference on Tawhidi Methodology Applied to Microenterprise Development, January 2011

17 Pages Posted: 18 May 2011

See all articles by Mochammad Arif Budiman

Mochammad Arif Budiman

Politeknik Negeri Banjarmasin, Indonesia

Dimas Bagus Wiranata Kusuma

International Islamic University of Malaysia (IIUM)

Date Written: January 1, 2011

Abstract

There has been an accusation among few scholars blaming that the institution of waqf could not any longer perform its economic role in the modern times. To them, instead of being a vital institution as it was at pre-modern era, waqf nowadays seems to be an impediment to the development in most of Islamic countries. This paper however is meant to clarify such an accusation and attempts to point out the economic significance of waqf in the context of modern economy.

Keywords: waqf, government expenditure, redistribution, poverty, economic progress

JEL Classification: D64, I38, L30

Suggested Citation: Suggested Citation

Budiman, Mochammad Arif and Kusuma, Dimas Bagus Wiranata, The Economic Significance of Waqf: A Macro Perspective (January 1, 2011). 8th International Conference on Tawhidi Methodology Applied to Microenterprise Development, January 2011, Available at SSRN: https://ssrn.com/abstract=1844606