Revitalization of Waqf for Socio-Economic Development, Volume II (eBook)

Foreword 5
Acknowledgements 6
Contents 9
Notes on Contributors 12
List of Figures 24
List of Tables 26
Chapter 1 Introduction 29
Reference 40
Part I Waqf and Sustainable Development 41
Chapter 2 Role of Waqf to Attain the “SDG-1: Ending Poverty” in Bangladesh 42
1 Introduction 42
2 Sustainable Development Goal-1: Ending Poverty 44
3 Islamic Outlook of Waqf (Endowment) 45
4 Waqf Resources in Bangladesh 47
5 Challenges to Poverty Alleviation in Bangladesh 48
6 Waqf and SDG-1: Ending Poverty 50
7 Sevenfold Strategy to Attain SDG-1 51
8 Recommendations 56
9 Conclusion 58
References 58
Chapter 3 Financing the Sustainable Development Goals (SDGs): The Socio-Economic Role of Awqaf (Endowments) in Bangladesh 62
1 Introduction 62
2 Methods of the Research 63
3 Awqaf and Socio-Economic Development: A Conceptual Framework 64
3.1 Socio-Economic Development: A Conceptual Note 64
3.2 The Indicators of Socio-Economic Development 67
3.3 Awqaf and Socio-Economic Development 67
3.4 Sustainable Development Goals (SDGs) and Financing Through Awqaf 70
4 Socio-Economic Development in Bangladesh 75
4.1 Bangladesh’s Economic Trends and Human Development Since the 1980s 75
4.2 Social Progress in Bangladesh 78
4.3 Public Expenditure in Education and Health Sectors in Bangladesh 79
5 The Socio-Economic Role of Awqaf in Bangladesh 80
5.1 Historical Perspective 80
5.2 Waqf and Poverty Alleviation in Bangladesh 82
5.3 Waqf in Education Financing 83
5.4 Waqf in Healthcare Financing 85
5.5 Waqf in Gender Empowerment 86
6 Conclusion and Policy Recommendations 89
References 91
Chapter 4 Integrating Family Waqf into an Inheritable Going Concern Business: An Instrument for the Sustainable Welfare of Exempted Heirs 93
1 Introduction 93
2 The Concept of Waqf 96
3 The Need for Infusing Family Waqf into an Inheritable Business 97
4 Going Concern of Inherited Business and the Perpetuity of Waqf 103
5 Conclusion 109
References 109
Part II Legal Issues in Waqf Management 114
Chapter 5 Exploring Dynamics of Private Giving as Income Support Institution for Endowment Deficient Consumers 115
1 Introduction 115
2 Research Rationale 117
3 Brief Literature Review 120
4 Research Methodology 122
4.1 Data Collection 122
4.2 Questionnaire Design 123
4.3 Empirical Approach 123
5 Analysis and Results 124
6 Conclusions and Recommendations 133
References 135
Chapter 6 Analysis of the Law of Waqf in Thailand 139
1 Introduction 139
2 Method of Collecting Waqf Property 140
3 Laws Concerning Muslim Affairs in Thailand 141
4 The Royal Act Concerning Muslim Mosque, 1947 141
4.1 Composition of the Committee 141
4.2 Powers and Duties of the Waqf committee 142
5 Analysis of the Provisions of the Royal Act Concerning Muslim Mosque 1947 143
6 The Royal Act Concerning Islamic Patronage Act, 1945 143
7 Analysis of the Provisions of the Royal Act Concerning Islamic Patronage Act 1945 144
7.1 Certain Other Laws Relevant to the Property Administration in Thailand 144
8 Thai Civil and Commercial Law Code 1934 144
9 Gift Under Thai Civil and Commercial Law Code 1934 as Example 145
10 Thai National Land Code 1951 145
11 Analysis of the Thai National Land Code 1951 147
12 Conclusion 148
References 149
Chapter 7 Waqf Law and Islamic Religious Revenue: New Sources of a State Revenue 150
1 Introduction 150
2 Law in Relation to State Revenue 151
2.1 State Law 152
2.2 Sources of Government Revenues 159
3 Waqf Law and Government Revenue 162
3.1 Bangladesh 163
3.2 Brunei 164
3.3 Indonesia 165
3.4 Malaysia 166
3.5 Nigeria 167
3.6 Pakistan 167
4 What Are the Issues? 169
4.1 Cash Management Profile 169
4.2 Sources of Government Revenue 169
4.3 Consolidated Account and State Revenue 170
4.4 Public Policy 171
5 Conclusions 173
References 173
Chapter 8 Legal Constraints to the Development of Waqf 175
1 Introduction 175
2 Legal Regimes and Organizations 177
2.1 Waqf and Legal Environment 178
3 Legal Regime for NPOs and Waqf in the Gambia 180
3.1 Laws Related to NPOs in the Gambia 181
3.2 Membership with Associations of Non-Government Organizations 182
4 Legal Regime of NPOs and Waqf in Bangladesh 184
4.1 Laws of Formation of NPOs 184
5 Laws and the Growth of Waqf Institutions 186
5.1 Necessity of Waqf Law 186
5.2 Sufficiency of Waqf Law: Legal Asymmetry and Arbitrage 188
6 Legal Reforms for Growth of the Waqf Sector 191
7 Conclusion 194
References 195
Part III Other Issues in Waqf Management Strategies 197
Chapter 9 Management of Mudaraba Waqf Cash Deposit in Islami Bank Bangladesh Limited: An Evaluation 198
1 Introduction 198
1.1 Literature Review 199
1.2 Data and Method 200
2 Analysis and Findings 200
3 Suggestion 204
4 Conclusion 205
References 206
Chapter 10 Cash Waqf and Preferred Method of Payment: Case of Malaysia Using an AHP Approach 208
1 Introduction 208
2 Problem Statement 210
3 Literature Review 211
3.1 Cash Waqf 211
3.2 Payment Methods 213
4 Data and Methodology 216
4.1 Analytic Hierarchy Process 216
4.2 Data 218
5 Findings and Discussion 220
5.1 Demography and Respondents 220
5.2 Analytic Hierarchy Process (AHP) 221
6 Conclusion 223
References 223
Chapter 11 The Indonesia Waqf Board (BWI): An Analytical Network Process Analysis 228
1 Introduction 228
2 Literature Review 231
3 Research Method 235
4 Result and Analyses 237
4.1 Decomposition 237
4.2 Synthesis of the Results 238
4.2.1 Synthesis of the Opportunities Cluster 238
4.2.2 Synthesis of the Strengths Cluster 240
4.2.3 Synthesis of the Threats Cluster 241
4.2.4 Synthesis of the Weaknesses Cluster 243
4.2.5 Synthesis of the Strategies Cluster 244
5 Conclusions and Recommendations 246
References 247
Chapter 12 Waqf Management in the Light of Maqasid al Shariah: Bangladesh Perspective 250
1 Introduction 250
2 Definition of Waqf 251
2.1 Lexical Meaning of Waqf 251
2.2 Terminological Meaning of Waqf 251
3 Definition of Maqasid al Shariah 252
4 Fundamental Objectives of Islamic Shariah (Maqasid al Shariah) 252
5 The Scenario of Waqf in Bangladesh 254
6 The Statistics of Waqf in Bangladesh 255
7 What Is Waqf Management? 256
8 The Types of Waqf Management in Bangladesh 256
9 Bangladesh Waqf Administration 257
10 Waqf Management in Bangladesh in the View of Maqasid al Shariah 259
10.1 Protecting Waqf Property from Harm and Destruction 261
10.2 Preservation of Waqf from Illegal Occupation 261
10.3 Increasing Waqf Asset Through Investment 262
10.4 To Get the Waqf Administration Free from Corruption 262
10.5 To Ensure the Transparency and Accountability 263
10.6 Accomplishment as per Agreement 263
11 Recommendations Towards Achieving the Maqasid al Shariah in Waqf Management 264
11.1 Enhancing Activity and Sincerity of Local Waqf Management Committee 265
11.2 Conducting Proper Training of Manpower from Both Spiritual and Worldly Perspective 265
11.3 Appointment of Necessary Manpower 265
11.4 Formation of the Ministry of Waqf Affairs 266
11.5 Formation of Advisory Board 266
11.6 Bond Production 266
11.7 Dissemination of Knowledge About Waqf 266
12 Conclusion 267
References 268
Chapter 13 Decomposing Problems in Cash Waqf Fund-Raising in Indonesia 270
1 Introduction 270
1.1 Background 270
1.2 Research Objectives 272
2 Literature Review 272
3 Research Methodology 274
3.1 Methodology 274
3.2 Data Collection Method 275
3.3 Data Analysis Techniques 276
4 Discussion 277
4.1 Problems and Solutions Decompositions 277
4.1.1 Internal Problems 277
4.1.2 External Problems 279
4.1.3 Short-Term Solutions 280
4.1.4 Long-Term Solutions 282
4.2 Data Analysis 282
5 Conclusion 287
References 288
Chapter 14 Do Religiosity and Socio-Economic Aspects Influence Zakat and Waqf Payment? 290
1 Introduction 290
2 Conceptual Background: Zakat and Waqf Practices in Indonesia’s Baitul Maal wa Tamwil 292
3 Conceptual Background: Religiosity Aspects 294
4 Proposed Framework of Study and Hypothesis Development 296
5 Methodology 297
6 Results and Findings 300
6.1 Descriptive Statistics 300
6.2 Does Religiosity and Socio-Economic Influenced Zakat and Waqf Payment? 302
6.3 Zakat Fitrah 304
6.4 Zakat Maal 305
6.5 Cash Waqf 306
6.6 Land Waqf 306
7 Conclusion 308
References 309
Chapter 15 Mediating Role of Trust in Cash Waqf Donations 314
1 Introduction 314
2 Prior Studies on Cash Waqf 318
3 Theoretical Perspective and Conceptual Framework Development 319
4 Hypothesis Development 321
5 Methodology 323
5.1 Sample 323
5.2 Measurement Instrument 324
6 Results 324
6.1 Demographic Characteristics 324
6.2 Reliability and Validity Analysis 325
6.3 Structural Equation Modelling (SEM) Results 327
7 Discussion and Findings 328
8 Conclusion 332
References 333
Index 339