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Volume :28 Issue : 4 2000      Add To Cart                                                                    Download

The Role of Waqf in Economic Development

Auther : Yousof K. Al-Yousof

In the light of globalization and the concomitant shrinkage of the role of the state in the economic development of Arab and Moslem countries, the present paper explores the potential role that Waqf (Charitable Endowment) can play in the future development of these countries just as it did in its past. The paper is divided into three parts. Part I presents the reader with a conceptual framework of the meaning, forms, and limitations of Waqf as an Islamic Charitable entity. Part II exposes the impact of Waqf on economic development through its effects on human resources, capital accumulation, technological advancement, and public expenditures. And finally, part III dwells on the ways and means of managing and investing Waqf resources which is necessary for sustaining the above state role of Waqf in economic development.

Keywords: Waqf, Economic Development, Non-Governmental Institutions, Human Resource Development, Technological Progress, Capital Accumulation.

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