Waqf and trust: the nature, structures and socio-economic impacts

Mohammad Nayeem Abdullah

32 citations0/0 files storedJournal of Islamic accounting and business research

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Islamic Finance and Banking Studies Legal principles and applications Qur’anic Interpretation Studies

Abstract

Purpose This paper aims to compare and contrast the concept, mechanism and functions of the two socio-economic institutions, i.e. waqf (Islamic trust) and English trust. It endeavours to juxtapose the salient features of waqf and trust with an objective to examine the nature of similarities and dissimilarities between the two institutions. Design/methodology/approach This paper applies the socio-legal research methodology and uses qualitative paradigm to analyse the literature. The paper is based on a desk-based research. Findings This paper finds that there is nothing intrinsically rigid in the jurisprudential paradigm of waqf which might impinge upon either the efficiency or effectiveness of the waqf vis-à-vis trust. The main findings of the paper are encapsulated in underlining certain Shariah principles which essentially hold waqf from transforming into a trust-like secular institution. Research limitations/implications This paper compares the jurisprudential underpinnings and conceptual frameworks of waqf and trust, and it does not evaluate their efficiency or effectiveness in empirical terms. The underlying socio-economic efficiency and impacts of the two institutions can be examined empirically in separate comparative case studies. Practical implications This paper examines and critically analyses the different socio-economic implications that waqf and trust entail for the societies in which they function. This analysis is important for the policy recommendations towards protecting the religious identity of waqf while re-structuring its models. Originality/value The main contribution of the paper is encapsulated in the critical analysis of how the paradigms of the two institutions, i.e. waqf and trust, which appear similar in form but differ in the substance, are shaped and governed.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 32 citations exist upstream.

References

2001The Provision of Public Goods under Islamic Law: Origins, Impact, and Limitations of the Waqf System 1998AWQAF IN HISTORY AND ITS IMPLICATIONS FOR MODERN ISLAMIC ECONOMIES 1988The Influence of the Islamic Law of Waqf on the Development of the Trust in England: The Case of Merton College 2006Obstacles of the Current Concept of Waqf to the Development of Waqf Properties and the Recommended Alternative 1999Political and Social Aspects of Islamic Religious Endowments (awqāf): Saladin in Cairo (1169–73) and Jerusalem (1187–93)

Cited by

2023Intergenerational analysis of cash waqf behavior: lessons learned from Indonesia 2023The development of national waqf index in Indonesia: A fuzzy AHP approach 2022Framework of affordable cooperative housing through an innovative waqf-based source of finance in Karachi 2023Business process model for “crowdfunding cash waqf model”

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.