IDEAS home Printed from https://ideas.repec.org/p/osf/socarx/8bfjy.html
   My bibliography  Save this paper

Waqf as a Tool for Rendering Social Welfare Services in the Social Entrepreneurship Context

Author

Listed:
  • Shahriar, Shawon Muhammad
  • Alam, Md. Mahmudul

    (Universiti Utara Malaysia)

  • Said, Jamaliah
  • Monzur-E-Elahi, Mohammad

Abstract

The concept of Islamic entrepreneurship centers on ensuring community well-being as the priority, which is one of the important objectives (Maqasid) of the Islamic Shari’ah. Historically, waqf played a significant role in the Islamic economic system, particularly in rendering exemplary welfare services in the areas of healthcare, education, social welfare, environmental, and other community-based programs. However, only a few success stories in recent history have institutionally utilized the properties of waqf under proper management to achieve its substantial objectives. This study uses the literature review as basis to analyze the reasons behind the successful utilization of waqf as an effective tool to ensure social welfare services in the past, as well as how this model can be replicated by considering current contexts. This study will assist Islamic value-centric entrepreneurs, regulatory authorities, investors, and researchers to gain an overall insight into the potentials of waqf as a tool for rendering commendable social welfare services.

Suggested Citation

  • Shahriar, Shawon Muhammad & Alam, Md. Mahmudul & Said, Jamaliah & Monzur-E-Elahi, Mohammad, 2019. "Waqf as a Tool for Rendering Social Welfare Services in the Social Entrepreneurship Context," SocArXiv 8bfjy, Center for Open Science.
    • Handle: RePEc:osf:socarx:8bfjy
    DOI: 10.31219/osf.io/8bfjy
    as

    Download full text from publisher

    File URL: https://osf.io/download/5d021fae7b8c4d00199b1f39/
    Download Restriction: no
    File URL: https://libkey.io/10.31219/osf.io/8bfjy?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Azid, Toseef & Asutay, Mehmet & Burki, Umar, 2007. "Theory Of The Firm, Management And Stakeholders: An Islamic Perspective," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 15, pages 1-30.
    2. D. Joseph Stiglitz, 2009. "Moving Beyond Market Fundamentalism To A More Balanced Economy," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 80(3), pages 345-360, September.
    3. Michael Pirson & Paul Lawrence, 2010. "Humanism in Business – Towards a Paradigm Shift?," Journal of Business Ethics, Springer, vol. 93(4), pages 553-565, June.
    4. Pryor, Frederic L., 1985. "The islamic economic system," Journal of Comparative Economics, Elsevier, vol. 9(2), pages 197-223, June.
    5. James Austin & Howard Stevenson & Jane Wei–Skillern, 2006. "Social and Commercial Entrepreneurship: Same, Different, or Both?," Entrepreneurship Theory and Practice, , vol. 30(1), pages 1-22, January.
    6. Patricia M. Hillebrandt, 1985. "Economic Theory and the Construction Industry," Palgrave Macmillan Books, Palgrave Macmillan, edition 0, number 978-1-349-17934-3, October.
    7. Shirley, Mary & Walsh, Patrick, 2000. "Public versus private ownership : the current state of the debate," Policy Research Working Paper Series 2420, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Carlo Borzaga & Chiara Carini & Ericka Costa & Maurizio Carpita & Michele Andreaus, 2012. "Cooperation in Italy in 2008," Euricse Working Papers 1226, Euricse (European Research Institute on Cooperative and Social Enterprises).
    2. Helen M. Haugh & Alka Talwar, 2016. "Linking Social Entrepreneurship and Social Change: The Mediating Role of Empowerment," Journal of Business Ethics, Springer, vol. 133(4), pages 643-658, February.
    3. Junyon Im & Sunny Sun, 2015. "Profits and outreach to the poor: The institutional logics of microfinance institutions," Asia Pacific Journal of Management, Springer, vol. 32(1), pages 95-117, March.
    4. O. Vikhanskiy S. & A. Mirakyan G. & О. Виханский С. & А. Миракян Г., 2018. "Лидерство-служение как фактор социального предпринимательства // Servant Leadership as a Factor of Social Entrepreneurship," Управленческие науки // Management Science, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 8(1), pages 100-109.
    5. Wesam Salah Alaloul & Muhammad Ali Musarat & Muhammad Babar Ali Rabbani & Qaiser Iqbal & Ahsen Maqsoom & Waqas Farooq, 2021. "Construction Sector Contribution to Economic Stability: Malaysian GDP Distribution," Sustainability, MDPI, vol. 13(9), pages 1-26, April.
    6. Anne Musson & Damien Rousselière, 2020. "Exploring the effect of crisis on cooperatives: a Bayesian performance analysis of French craftsmen cooperatives," Applied Economics, Taylor & Francis Journals, vol. 52(25), pages 2657-2678, May.
    7. Muhammad Farooq Islam & Ozge Can, 2024. "Integrating digital and sustainable entrepreneurship through business models: a bibliometric analysis," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 14(1), pages 1-18, December.
    8. Canestrino, Rossella & Ćwiklicki, Marek & Magliocca, Pierpaolo & Pawełek, Barbara, 2020. "Understanding social entrepreneurship: A cultural perspective in business research," Journal of Business Research, Elsevier, vol. 110(C), pages 132-143.
    9. Jamal El-Den & Pratap Adikhari & Pratap Adikhari, 2017. "Social media in the service of social entrepreneurship: Identifying factors for better services," Journal of Advances in Humanities and Social Sciences, Dr. Yi-Hsing Hsieh, vol. 3(2), pages 105-114.
    10. Matt Grimes, 2010. "Strategic Sensemaking within Funding Relationships: The Effects of Performance Measurement on Organizational Identity in the Social Sector," Entrepreneurship Theory and Practice, , vol. 34(4), pages 763-783, July.
    11. Ruben Burga & Davar Rezania, 2016. "Stakeholder theory in social entrepreneurship: a descriptive case study," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 6(1), pages 1-15, December.
    12. Ullah, Barkat, 2021. "Does innovation explain the performance gap between privatized and private firms?," Journal of Economics and Business, Elsevier, vol. 113(C).
    13. Satyajit Majumdar & Gordhan K. Saini, 2016. "CSR in India: Critical Review and Exploring Entrepreneurial Opportunities," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 2(1), pages 56-79, January.
    14. Reeti Kulshrestha & Arunaditya Sahay & Subhanjan Sengupta, 2022. "Constituents and Drivers of Mission Engagement for Social Enterprise Sustainability: A Systematic Review," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 31(1), pages 90-120, March.
    15. Päivi Jokela & Maria Elo, 2015. "Developing Innovative Business Models in Social Ventures," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 11(1), pages 103-118.
    16. Ankita Tandon & Unnikrishnan K. Nair, 2015. "Enactment of knowledge brokering: Agents, roles, processes and the impact of immersion," Working papers 183, Indian Institute of Management Kozhikode.
    17. Barbara Bradač Hojnik & Katja Crnogaj, 2020. "Social Impact, Innovations, and Market Activity of Social Enterprises: Comparison of European Countries," Sustainability, MDPI, vol. 12(5), pages 1-15, March.
    18. G. Yoganandan & Abdul Aziz Abdul Rahman & M. Vasan & Abdelrhman Meero, 2022. "Evaluating agripreneurs’ satisfaction: exploring the effect of demographics and emporographics," Journal of Innovation and Entrepreneurship, Springer, vol. 11(1), pages 1-22, December.
    19. Inmaculada Buendía-Martínez & Inmaculada Carrasco Monteagudo, 2020. "The Role of CSR on Social Entrepreneurship: An International Analysis," Sustainability, MDPI, vol. 12(17), pages 1-22, August.
    20. Megginson, William Leon, 2005. "The Financial Economics of Privatization," OUP Catalogue, Oxford University Press, number 9780195150629.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:osf:socarx:8bfjy. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: OSF (email available below). General contact details of provider: https://arabixiv.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.