Managing Waqf For Societal Well-Being

Author: Aliah Hanim M.Salleh, Nur Sa'adah Muhammad, Khairul Akhmaliah Adham
Publisher: UPM Press
ISBN: 9789673444137
Weight: 0.206
Pages: 102pp
Year: 2014
Price: RM28

The concept of wealth in Islam is bounded by the Islamic worldview that encompasses the principles of justice, equity, and fairness and is aimed at upholding the objectives (Maqasid) of the Shari’ah (Islamic Legal System). Based on Islamic teaching, the ultimate owner of wealth is Allah S.W.T; while man functions mainly as the trustee of the said wealth, or in other words, as fiduciary owner in his role as Allah’s vicegerent on earth. Waqf is an instrument of wealth creation and distribution that is based on Islamic divine rules and teachings. Waqf is defined as the perpetual, inalienable instrument of Islamic endowment, which aims at improving the socio-economic well-being of society. Technically, waqf is a form of transfer of assets that is withheld as a trust by individuals or organizational entities, where only the benefits associated with the assets are used for general or specific philanthropic purposes. This book is suitable for students, educators, and the general public who are interested in learning about waqf and commit to practicing/conducting research on waqf-Islam’s beautiful wealth management vehicle. Here, waqf practices and situations are described and analyzed. This book uniquely offers an emergent framework of ‘waqf for societal well-being’ which will provide insights for a deeper understanding of the subject and inspire improved practices in managing waqf.