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Waqf as a Financing Tool and Its Role in Achieving SDGs and Foreseeing the Future

In: Wealth Management and Investment in Islamic Settings

Author

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  • Eiman Ahmad Mohammad Khaleel Hashmi

    (Zayed University)

Abstract

The significance of Waqf goes beyond being an act of worship that has been ordained to fulfill society’s welfare in many fronts, spiritual and material, individual and social, as well as here and hereafter. It is characterized as being one of the most pertinent tools of Islamic economics. This is due to its autonomy, flexibility, sustainability, and continuity, and its ability to achieve socioeconomic development for contemporary and future generations alike. The Waqf system have witnessed various stages of development in the light of the Islamic civilization to encompass all socioeconomic sectors; education, culture, healthcare, housing, services, politics, military, energy, infrastructure, food and water security, clean and affordable energy, and more. Proving itself to be capable of achieving high and advanced potentials of Sustainable Development Goals (SDGs). This chapter aims at investigating the capacity and flexibility of Waqf, and its ability to achieve advanced progress towards various SDGs. The challenges facing Waqf and hindering it from achieving its great potentials are analyzed and solutions and policy recommendations would be presented.

Suggested Citation

  • Eiman Ahmad Mohammad Khaleel Hashmi, 2022. "Waqf as a Financing Tool and Its Role in Achieving SDGs and Foreseeing the Future," Springer Books, in: Toseef Azid & Murniati Mukhlisin & Othman Altwijry (ed.), Wealth Management and Investment in Islamic Settings, chapter 0, pages 333-355, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-3686-9_19
    DOI: 10.1007/978-981-19-3686-9_19
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