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Financing the Development of Old Waqf Properties

Classical Principles and Innovative Practices around the World

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  • © 2016

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Authors:
  1. Magda Ismail Abdel Mohsin

    1. INCEIF - The Global University of Islami, Kuala Lumpur, Malaysia

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  2. Hisham Dafterdar

    1. Manama, Bahrain

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  3. Murat Cizakca

    1. Ucuncu Nilufer Caddesi, Osmangazi, Turkey

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  4. Syed Othman Alhabshi

    1. Kuala Lumpur, Malaysia

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  5. Shaikh Hamzah Abdul Razak

    1. INCEIF - The Global University of Islami, Kuala Lumpur, Malaysia

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  6. Seyed Kazem Sadr

    1. INCEIF - The Global University of Islami, Kuala Lumpur, Malaysia

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  7. Thamina Anwar

    1. Auckland, New Zealand

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  8. Mohammed Obaidullah

    1. Islamic Development Bank Group, Islamic Research and Training Institute, Jeddah, Saudi Arabia

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  • Explores case studies of successfully redeveloped waqf properties
  • Describes groundbreaking methods to finance redevelopment
  • Discusses modern uses for old waqf properties

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Table of contents (7 chapters)

  1. Front Matter

    Pages i-xxvii
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  2. Legal Framework of the Institution of Waqf

    • Magda Ismail Abdel Mohsin, Hisham Dafterdar, Murat Cizakca, Syed Othman Alhabshi, Shaikh Hamzah Abdul Razak, Seyed Kazem Sadr et al.
    Pages 1-12

  3. Development and Administration of the Institution of Waqf (Past and Present)

    • Magda Ismail Abdel Mohsin, Hisham Dafterdar, Murat Cizakca, Syed Othman Alhabshi, Shaikh Hamzah Abdul Razak, Seyed Kazem Sadr et al.
    Pages 13-20

  4. The Role of Waqf in Modern Economic Development

    • Magda Ismail Abdel Mohsin, Hisham Dafterdar, Murat Cizakca, Syed Othman Alhabshi, Shaikh Hamzah Abdul Razak, Seyed Kazem Sadr et al.
    Pages 21-35

  5. Current Development of Waqf Properties in Selected Countries and Their Socioeconomic Roles

    • Magda Ismail Abdel Mohsin, Hisham Dafterdar, Murat Cizakca, Syed Othman Alhabshi, Shaikh Hamzah Abdul Razak, Seyed Kazem Sadr et al.
    Pages 37-220

  6. Waqf Development: The Islamic Development Bank Experience

    • Magda Ismail Abdel Mohsin, Hisham Dafterdar, Murat Cizakca, Syed Othman Alhabshi, Shaikh Hamzah Abdul Razak, Seyed Kazem Sadr et al.
    Pages 221-236

  7. Modus Operandi and Structures of the Classical and the Innovative Modes of Finance

    • Magda Ismail Abdel Mohsin, Hisham Dafterdar, Murat Cizakca, Syed Othman Alhabshi, Shaikh Hamzah Abdul Razak, Seyed Kazem Sadr et al.
    Pages 237-256

  8. Conclusion

    • Magda Ismail Abdel Mohsin, Hisham Dafterdar, Murat Cizakca, Syed Othman Alhabshi, Shaikh Hamzah Abdul Razak, Seyed Kazem Sadr et al.
    Pages 257-260

  9. Back Matter

    Pages 261-267
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Keywords

About this book

This book presents successful case studies in Muslim and Muslim minority countries that have revolutionized the redevelopment of idle waqf properties into productive land trusts. The revival of this institution over the last two decades shows the growing optimism in galvanizing the socioeconomic role of waqf by adopting its flexible shariah measures. Innovative ways of financing redevelopment allow Muslims to extend these roles to include new beneficiaries. New uses for these properties include providing services to the community, opening jobs for the majority of people, funding small entrepreneurs, educating the masses, providing health care, and sheltering the poor and needy. Countries under study include Sudan, Turkey, Malaysia, Indonesia, Singapore, New Zealand, Kuwait, Oman, Qatar, and Iran. Additionally, the book examines the International Development Bank's role in financing the development old waqf properties in different countries.



Authors and Affiliations

  • INCEIF - The Global University of Islami, Kuala Lumpur, Malaysia

    Magda Ismail Abdel Mohsin, Shaikh Hamzah Abdul Razak, Seyed Kazem Sadr

  • Manama, Bahrain

    Hisham Dafterdar

  • Ucuncu Nilufer Caddesi, Osmangazi, Turkey

    Murat Cizakca

  • Kuala Lumpur, Malaysia

    Syed Othman Alhabshi

  • Auckland, New Zealand

    Thamina Anwar

  • Islamic Development Bank Group, Islamic Research and Training Institute, Jeddah, Saudi Arabia

    Mohammed Obaidullah

About the authors

Magda Ismail Abdel Mohsin is Associate Professor of Islamic economics and finance at the International Centre for Education in Islamic Finance (INCEIF), Malaysia. She holds a doctorate in Islamic Civilization/Islamic Economics from the Institute of Islamic Thought and Civilization of the International Islamic University Malaysia.



Co-Researchers:


Hisham Dafterdar, Awaqf New Zealand and Canadian Islamic Trust Foundation;
Murat Cizakca, INCEIF, Malaysia / Luxembourg School of Finance, German;
Syed Othman Alhabshi, INCEIF, Malaysia;
Shaikh Hamzah Abdul Razak, INCEIF, Malaysia;
Seyed Kazem Sadr, INCEIF, Malaysia;
Thamina Anwar, University of KwaZulu-Natal, South Africa; 
Mohammed Obaidullah, Islamic Development Bank, Saudi Arabia



Bibliographic Information

  • Book Title: Financing the Development of Old Waqf Properties

  • Book Subtitle: Classical Principles and Innovative Practices around the World

  • Authors: Magda Ismail Abdel Mohsin, Hisham Dafterdar, Murat Cizakca, Syed Othman Alhabshi, Shaikh Hamzah Abdul Razak, Seyed Kazem Sadr, Thamina Anwar, … Mohammed Obaidullah

  • Series Title: Palgrave Studies in Islamic Banking, Finance, and Economics

  • DOI: https://doi.org/10.1057/978-1-137-58128-0

  • Publisher: Palgrave Macmillan New York

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s) 2016

  • Hardcover ISBN: 978-1-137-58127-3Published: 21 October 2016

  • eBook ISBN: 978-1-137-58128-0Published: 21 October 2016

  • Series ISSN: 2662-5121

  • Series E-ISSN: 2662-513X

  • Edition Number: 1

  • Number of Pages: XXVII, 267

  • Number of Illustrations: 8 b/w illustrations, 5 illustrations in colour

  • Topics: Banking

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