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
Date Written: January 1, 2011
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