Assoc. Prof. Dr. Magda Ismail Abdel Mohsin
Qualification:Ph.D.in Islamic Economic- Islamic Civilisation, International Islamic University of Malaysia (IIUM), Malaysia. (2003)
Fields/Area of Specialization:Islamic Economies and Finance
Before joining INCEIF, Assoc. Prof. Dr. Magda Ismail Abdel Mohsin served as a lecturer in a higher learning institution, International Islamic College Malaysia (IICM) where she was appointed as Deputy Head of Economic and Quantitative Programme, and Deputy Chief Executive Officer. She holds a Ph.D. in Islamic Civilisation (Islamic Economics) from the International Islamic University Malaysia, having completed her Masters in Economics from the same university. Her area of expertise includes Islamic economies and finance.

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Showing results 1 to 20 of 56
  • a_fresh_view_on_zakah_as_socio-financial_tool_to_promote_ethics_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda (2020)

  • Current statistical data shows that almost all Muslim countries are facing economic and social problems such as the spread of poverty, mounting outstanding external debt due to compound interest and widespread unethical behaviour. Some contemporary scholars relate these problems to the oppression and the crippling policies of former colonial administrations, while others point to the governmental incompetence and corruption that triggered the last Arab spring. However, this paper contends that although the above mentioned issues may have served as catalysts that led to the worsening of socio-economic situation in many countries, the main reason for the overwhelming problems plaguing M...

  • integrating waqf crowfunding into the blockchain_magda_aishath.jpg.jpg
  • Chapter in Book


  • Authors: Ismail Abdel Mohsin, Magda; Muneeza, Aishath (2019)

  • Looking at current global reports, it seems that half of the world's population is suffering economically and socially. According to the most recent estimates, in 2013, 10.7 per cent of the world's population (767 million people) lived on less than US$1.90 a day (World Bank|Poverty Overview 2018). Moreover, millions of people lack adequate shelter and access to portable water, health services and education and suffer from extreme hunger (Shah 2013). Muslim countries are not exceptional, even though many anti-poverty programmes have been implemented, yet the Islamic Development Bank reported that 351.2 million people are living on less than $1.25 a day (SESRIC - Statistical, Economic a...

  • evolution_of_waqf_practices_magda.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ismail Abdel Mohsin, Magda (2019)

  • Waqf (plural awqaf) is a continuous charitable endowment given away for the goodwill. Once created, it must stay permanently to finance different needs for the next generation. Waqf can be defined as "the confinement of a property (movable or immovable) by a founder(s) and the dedication of its usufruct in perpetuity for the wellbeing of societies for generations to come". The inherent perpetuity of waqf gives its flexibility to accommodate the arising needs of Muslim societies throughout centuries. As such, it is seen as an institution with an immense potential for economic and social reform (MIFC, 2015).

  • sukuk_shehama_magda.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda (2019)

  • Sukuk shehama is a financial instrument that has only recently emerged. It is a form of government-issued Islamic bond (sukuk) based on musharakah which is found in Sudan but can be easily replicated in any other country. Each certificate carries a nominal value that is calculated in dinars and represents a share of the net investment allocated by the government for this purpose from the selected investment units. Shehama certificates are issued at different times from 6 months to one year. These certificates are issued in multiple categories 50 thousand dinars - 100 thousand dinars - 200 thousand dinars - 500 thousand dinars so that different categories of investors can buy any numb...

  • waqfintech_sustainable_socio-economic_development_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda (2019)

  • This paper aims to discuss the use of financial technology in waqf (Islamic endowment) for funding religious and social causes. It is believed that waqfintech could reach a wider audience and benefit more people in need through the use of innovative financial technology like crowdfunding and blockchain. The main objective of this paper is to introduce the concept of waqfcrowd and waqfcoin as a means of collecting and managing waqf in the digital age. Waqf institutions can thus take advantage of technological innovation to utilise the convenience and efficiency offered by financial technology. This is a conceptual paper which reviews the relevant literature regarding waqf and financial...

  • brief_history_waqf_Islamic_socio-financial_insttuton_philanthropic_endowment_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda (2019)

  • Abu Hurairah (May Allah be pleased with him) reported Allah's Messenger (PBUH) as saying: When a man dies his acts come to an end, except three things, recurring charity, or knowledge (by which people benefit), or pious offspring, who pray for him. (Sahih Muslim). Looking at the economic situation of Muslim countries today in terms of their high unemployment rate, high illiteracy rate, lack of healthcare, inadequate transport facilities, the spread of poverty and the low level of food production encourages the author to look at the institution of waqf more profound as an authentic socio-financial tool to help minimize such problems. This raises the following questions; what role did t...

  • Waqf_shares_a_fundraising_scheme_for_community_development_projects_and_humanitarian_magda.PDF.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda (2018)

  • The waqf-share scheme is a 21st century Islamic social finance tool that has been used successfully in Muslim and Muslim-minority countries (Cizakca, 2000). It is a fundraising scheme organized by a charitable institution that issues "waqf-shares" for sale to different contributors for various projects. Since a waqf-share is a movable waqf, it has to follow the strict conditions of waqf in terms of its irrevocability, its inalienability, and its perpetuity. This means that contributors cannot sell or transfer their waqf shares; they can only receive and hold a waqf-share certificate as evidence of theircontributions to the project if the created waqf is public waqf.

  • waqf_share_schemes_and_you_magda.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda (2018)

  • The waqf share scheme is one of the most versatile Islamic social finance tools that have emerged in the 21st century, and has been practised in many Muslim and Muslim-minority countries, according to Dr Murat Cizakca, Professor, Comparative Economics History, Global.

  • problem_based_learning_in_an_online_collaborative_environment_magda_et_al.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Jamaludin, Fathaiya; Ismail Abdel Mohsin, Magda; Benhadria, Mokhtar (2018)

  • Today, teaching and learning environment extends beyond the walls of the traditional classroom. Advances in technology have made it possible for new possibilities and opportunities in open and distance learning. The modern education industry across the world has recognized the need to incorporate digital technology into the classroom and course curriculum. On that note, the skills needed to be successful today, therefore, (Partnership for 21st Century Learning, 2007) are much different than those expected a decade ago.

  • item.jpg
  • Master


  • Authors: Azganin, Hassan (2018)

  • Cash waqf has the potential to alleviate social issues and to enable awqaf organizations developing idle waqf properties and hence eliminating such problem. This can be achieved if the financial technologies solutions are embedded in waqf system. Thus, awqaf properties are facing several challenges when it comes to fundraising and transparency that we aim to resolve to efficiently ease its implementation. The main purpose of this study is to explore the potential of crowdfunding and blockchain technology in solving fundraising and transparency. This study adopts a qualitative method using semi-structured interviews with five experts and academicians in fintech and Islamic finance, mor...

  • Waqfcoin_an_innovation_to_serve_humanity_magda_aishath.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda; Muneeza, Aishath (2018)

  • Serving humanity must be an objective of all human beings. There are many ways in which humanity can be served. One of the most convenient ways to do this is via donation. The most critical challenge facing the donors is uncertainty in knowing whether the donation is spent on the intended purpose. The lack of transparency by trustees managing donation funds have created lack of trust among the donors when it comes to donating for humanity. The Islamic concept of Waqf in which donations are made for noble causes faces the same issue as well. This is the main reason why Waqf is declining in today's era, where finding donors is a challenge. According to reports, Singapore-based fintech f...

  • sudan_academy_banking_financial_sciences_vision_hub_Islamic_finance_africa_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda; Khattab, Ishraga; Alchaar, Mhd Osama (2017)

  • The practice of Islamic banking has become a fast growing and widespread phenomenon, not only in the Muslim countries, but also in the Non-Muslim countries too, such as UK, USA, Canada and Singapore. The transformation from a conventional form of banking to a banking system based on interest-free banks has generated a great deal of interest to call for Human Capital Development in the field to ensure sustainability, good performance and good competitive market in the Islamic financial industry. Even though Sudan is the pioneer in taking the initiative of Islamizing its financial industry since 1980s, yet we realized that other countries are taking the leading international and regiona...

  • potential_for_wealth_creation_from_waqf_assets_magda_shaikh_hamzah.JPG.jpg
  • Chapter in Book


  • Authors: Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah (2017)

  • Charitable bequest as an endowment (waqf) is one of the wealth redistribution measures encouraged in Islam to bridge the gap between the haves and the have-nots. Such investments create flows of income/services of a charitable nature, in most cases, after the death of the endowers. Even though it is voluntary in nature, it is means to provide a continuous service to the needy in society and ensures a just and equitable distribution of wealth, and a means to seek God's blessings here and in the here-after. The title is on order.

  • financing_galvanizing_IDLE_waqf_properties_into_income_generating_properties_shaikh_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah (2017)

  • The main objective of this study is to present the current successful cases in making a revolution reform of the old and idle waqf properties into income generating properties in Muslim and Muslim minority countries. These reforms include providing services to the community, opening jobs for the majority of people, funding small entrepreneurs, educating the mass, taking care of the health of the people, and sheltering the poor and needy in the different countries. Case under studies are: Turkey, Malaysia, Singapore, Sudan, Indonesia, New Zealanf, Kuwait, India, Pakistan and Bangladesh.

  • IFHubEd5_income_inequality_reduction_magda.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ismail Abdel Mohsin, Magda (2017)

  • According to the World Bank Statistics (2012) more than 80% of the world's population live in countries where income inequality is very wide. The latest Oxfam report shows that the richest 1% of the world population holds over 50% of the world's wealth. This means that 62 richest people own an estimated wealth of US$1.76 trillion which is equivalent to the wealth of 3.5 billion people who make the poorest half of the world population (2015). The failure of the capitalist system in reducing this income inequality encourages economists to provide justification for this huge gap between the rich and the poor. Some economists believe that the main causes of this income inequalities is due...

  • inclusion of islamic social financial institutions_magda et al.pdf.jpg
  • Academic Proceeding


  • Authors: Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah; Alhabshi, Syed Othman; Seyed Sadr, Seyed Kazem (2017)

  • The hard core poor are neither bankable nor covered against risks. Whilst micro-finance seems to solve financial inclusion for this group to some extent, albeit at very high costs, very little have been done to provide sufficient cover against risks of all sorts for this group. Some attempts at developing micro-takaful are actually in the pipeline, however, very little concrete and practical solutions have emerged so far. It is of course well-known that Islamic Social Financial Institutions (ISFI), namely zakah, waqf, infaq and qard-hassan are meant to directly benefit the less fortunate in society, but little has been done to ensure that they directly benefit from these institutions....

  • IF_how_can_reduce_gap_between_rich_poor.pdf.jpg
  • Academic Presentation


  • Authors: Ismail Abdel Mohsin, Magda (2017)

  • The main objectives of this study are: 1) to present the main cause of the huge gap between the rich and the poor since 1970s; 2) to highlight the Islamic approach in handling economic development in a just and ethical manner; 3) to present the alternative financial institutions to interest/riba-based institution providing their financial products, their objective and their impact in narrowing the gap between the rich and the poor.

  • Past_present_2681.jpg.jpg
  • Chapter in Book


  • Authors: Ismail Abdel Mohsin, Magda (2017)

  • Historically, the non-profit institution of waqf has played a remarkable role in developing the Islamic societies as well as in assisting the Islamic state in providing social welfare services in the health and educational sectors, supplying the basic infrastructure, providing jobs, enhancing commercial and business activities, providing food for the hungry, shelter for the poor and the needy, in addition to supporting the agricultural and industrial sectors, without incurring any cost to the government. However, this positive role played by waqf deteriorated since the end of the 19th century and has continued to deteriorate to the present time.

  • zakah_social_financial_institutions_just_equitable_distribution_wealth.pdf.jpg
  • Academic Presentation


  • Authors: Ismail Abdel Mohsin, Magda (2017)

  • The slides highlight: 1) to show how the institution of zakah, which is one of the socio-financial institutions, can collect huge amount of funds to be redistributed to the less fortunate and hence not only narrowing the gap between the rich and the poor but eradicating poverty on annual basis while eliminating riba from Muslim society; 2) current scenario poverty in Muslim countries; 3) current situation of zakah in Muslim countries; 4) current successful cases in Sudan and Malaysia.

  • financing_development_old_waqf_properties.pdf.jpg
  • Academic Presentation


  • Authors: Ismail Abdel Mohsin, Magda (2017)

  • The slides highlight: 1) definition of waqf; 2) current scenation of waqf; 3) transforming old waqf properties into productive waqf.

Assoc. Prof. Dr. Magda Ismail Abdel Mohsin
author picture
Qualification: Ph.D.in Islamic Economic- Islamic Civilisation, International Islamic University of Malaysia (IIUM), Malaysia. (2003)
Fields/Area of Specialization: Islamic Economies and Finance
Before joining INCEIF, Assoc. Prof. Dr. Magda Ismail Abdel Mohsin served as a lecturer in a higher learning institution, International Islamic College Malaysia (IICM) where she was appointed as Deputy Head of Economic and Quantitative Programme, and Deputy Chief Executive Officer. She holds a Ph.D. in Islamic Civilisation (Islamic Economics) from the International Islamic University Malaysia, having completed her Masters in Economics from the same university. Her area of expertise includes Islamic economies and finance.
Showing results 1 to 20 of 56
  • a_fresh_view_on_zakah_as_socio-financial_tool_to_promote_ethics_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda (2020)

  • Current statistical data shows that almost all Muslim countries are facing economic and social problems such as the spread of poverty, mounting outstanding external debt due to compound interest and widespread unethical behaviour. Some contemporary scholars relate these problems to the oppression and the crippling policies of former colonial administrations, while others point to the governmental incompetence and corruption that triggered the last Arab spring. However, this paper contends that although the above mentioned issues may have served as catalysts that led to the worsening of socio-economic situation in many countries, the main reason for the overwhelming problems plaguing M...

  • integrating waqf crowfunding into the blockchain_magda_aishath.jpg.jpg
  • Chapter in Book


  • Authors: Ismail Abdel Mohsin, Magda; Muneeza, Aishath (2019)

  • Looking at current global reports, it seems that half of the world's population is suffering economically and socially. According to the most recent estimates, in 2013, 10.7 per cent of the world's population (767 million people) lived on less than US$1.90 a day (World Bank|Poverty Overview 2018). Moreover, millions of people lack adequate shelter and access to portable water, health services and education and suffer from extreme hunger (Shah 2013). Muslim countries are not exceptional, even though many anti-poverty programmes have been implemented, yet the Islamic Development Bank reported that 351.2 million people are living on less than $1.25 a day (SESRIC - Statistical, Economic a...

  • evolution_of_waqf_practices_magda.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ismail Abdel Mohsin, Magda (2019)

  • Waqf (plural awqaf) is a continuous charitable endowment given away for the goodwill. Once created, it must stay permanently to finance different needs for the next generation. Waqf can be defined as "the confinement of a property (movable or immovable) by a founder(s) and the dedication of its usufruct in perpetuity for the wellbeing of societies for generations to come". The inherent perpetuity of waqf gives its flexibility to accommodate the arising needs of Muslim societies throughout centuries. As such, it is seen as an institution with an immense potential for economic and social reform (MIFC, 2015).

  • sukuk_shehama_magda.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda (2019)

  • Sukuk shehama is a financial instrument that has only recently emerged. It is a form of government-issued Islamic bond (sukuk) based on musharakah which is found in Sudan but can be easily replicated in any other country. Each certificate carries a nominal value that is calculated in dinars and represents a share of the net investment allocated by the government for this purpose from the selected investment units. Shehama certificates are issued at different times from 6 months to one year. These certificates are issued in multiple categories 50 thousand dinars - 100 thousand dinars - 200 thousand dinars - 500 thousand dinars so that different categories of investors can buy any numb...

  • waqfintech_sustainable_socio-economic_development_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda (2019)

  • This paper aims to discuss the use of financial technology in waqf (Islamic endowment) for funding religious and social causes. It is believed that waqfintech could reach a wider audience and benefit more people in need through the use of innovative financial technology like crowdfunding and blockchain. The main objective of this paper is to introduce the concept of waqfcrowd and waqfcoin as a means of collecting and managing waqf in the digital age. Waqf institutions can thus take advantage of technological innovation to utilise the convenience and efficiency offered by financial technology. This is a conceptual paper which reviews the relevant literature regarding waqf and financial...

  • brief_history_waqf_Islamic_socio-financial_insttuton_philanthropic_endowment_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda (2019)

  • Abu Hurairah (May Allah be pleased with him) reported Allah's Messenger (PBUH) as saying: When a man dies his acts come to an end, except three things, recurring charity, or knowledge (by which people benefit), or pious offspring, who pray for him. (Sahih Muslim). Looking at the economic situation of Muslim countries today in terms of their high unemployment rate, high illiteracy rate, lack of healthcare, inadequate transport facilities, the spread of poverty and the low level of food production encourages the author to look at the institution of waqf more profound as an authentic socio-financial tool to help minimize such problems. This raises the following questions; what role did t...

  • Waqf_shares_a_fundraising_scheme_for_community_development_projects_and_humanitarian_magda.PDF.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda (2018)

  • The waqf-share scheme is a 21st century Islamic social finance tool that has been used successfully in Muslim and Muslim-minority countries (Cizakca, 2000). It is a fundraising scheme organized by a charitable institution that issues "waqf-shares" for sale to different contributors for various projects. Since a waqf-share is a movable waqf, it has to follow the strict conditions of waqf in terms of its irrevocability, its inalienability, and its perpetuity. This means that contributors cannot sell or transfer their waqf shares; they can only receive and hold a waqf-share certificate as evidence of theircontributions to the project if the created waqf is public waqf.

  • waqf_share_schemes_and_you_magda.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda (2018)

  • The waqf share scheme is one of the most versatile Islamic social finance tools that have emerged in the 21st century, and has been practised in many Muslim and Muslim-minority countries, according to Dr Murat Cizakca, Professor, Comparative Economics History, Global.

  • problem_based_learning_in_an_online_collaborative_environment_magda_et_al.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Jamaludin, Fathaiya; Ismail Abdel Mohsin, Magda; Benhadria, Mokhtar (2018)

  • Today, teaching and learning environment extends beyond the walls of the traditional classroom. Advances in technology have made it possible for new possibilities and opportunities in open and distance learning. The modern education industry across the world has recognized the need to incorporate digital technology into the classroom and course curriculum. On that note, the skills needed to be successful today, therefore, (Partnership for 21st Century Learning, 2007) are much different than those expected a decade ago.

  • item.jpg
  • Master


  • Authors: Azganin, Hassan (2018)

  • Cash waqf has the potential to alleviate social issues and to enable awqaf organizations developing idle waqf properties and hence eliminating such problem. This can be achieved if the financial technologies solutions are embedded in waqf system. Thus, awqaf properties are facing several challenges when it comes to fundraising and transparency that we aim to resolve to efficiently ease its implementation. The main purpose of this study is to explore the potential of crowdfunding and blockchain technology in solving fundraising and transparency. This study adopts a qualitative method using semi-structured interviews with five experts and academicians in fintech and Islamic finance, mor...

  • Waqfcoin_an_innovation_to_serve_humanity_magda_aishath.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda; Muneeza, Aishath (2018)

  • Serving humanity must be an objective of all human beings. There are many ways in which humanity can be served. One of the most convenient ways to do this is via donation. The most critical challenge facing the donors is uncertainty in knowing whether the donation is spent on the intended purpose. The lack of transparency by trustees managing donation funds have created lack of trust among the donors when it comes to donating for humanity. The Islamic concept of Waqf in which donations are made for noble causes faces the same issue as well. This is the main reason why Waqf is declining in today's era, where finding donors is a challenge. According to reports, Singapore-based fintech f...

  • sudan_academy_banking_financial_sciences_vision_hub_Islamic_finance_africa_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda; Khattab, Ishraga; Alchaar, Mhd Osama (2017)

  • The practice of Islamic banking has become a fast growing and widespread phenomenon, not only in the Muslim countries, but also in the Non-Muslim countries too, such as UK, USA, Canada and Singapore. The transformation from a conventional form of banking to a banking system based on interest-free banks has generated a great deal of interest to call for Human Capital Development in the field to ensure sustainability, good performance and good competitive market in the Islamic financial industry. Even though Sudan is the pioneer in taking the initiative of Islamizing its financial industry since 1980s, yet we realized that other countries are taking the leading international and regiona...

  • potential_for_wealth_creation_from_waqf_assets_magda_shaikh_hamzah.JPG.jpg
  • Chapter in Book


  • Authors: Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah (2017)

  • Charitable bequest as an endowment (waqf) is one of the wealth redistribution measures encouraged in Islam to bridge the gap between the haves and the have-nots. Such investments create flows of income/services of a charitable nature, in most cases, after the death of the endowers. Even though it is voluntary in nature, it is means to provide a continuous service to the needy in society and ensures a just and equitable distribution of wealth, and a means to seek God's blessings here and in the here-after. The title is on order.

  • financing_galvanizing_IDLE_waqf_properties_into_income_generating_properties_shaikh_magda.pdf.jpg
  • Journal Article


  • Authors: Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah (2017)

  • The main objective of this study is to present the current successful cases in making a revolution reform of the old and idle waqf properties into income generating properties in Muslim and Muslim minority countries. These reforms include providing services to the community, opening jobs for the majority of people, funding small entrepreneurs, educating the mass, taking care of the health of the people, and sheltering the poor and needy in the different countries. Case under studies are: Turkey, Malaysia, Singapore, Sudan, Indonesia, New Zealanf, Kuwait, India, Pakistan and Bangladesh.

  • IFHubEd5_income_inequality_reduction_magda.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ismail Abdel Mohsin, Magda (2017)

  • According to the World Bank Statistics (2012) more than 80% of the world's population live in countries where income inequality is very wide. The latest Oxfam report shows that the richest 1% of the world population holds over 50% of the world's wealth. This means that 62 richest people own an estimated wealth of US$1.76 trillion which is equivalent to the wealth of 3.5 billion people who make the poorest half of the world population (2015). The failure of the capitalist system in reducing this income inequality encourages economists to provide justification for this huge gap between the rich and the poor. Some economists believe that the main causes of this income inequalities is due...

  • inclusion of islamic social financial institutions_magda et al.pdf.jpg
  • Academic Proceeding


  • Authors: Ismail Abdel Mohsin, Magda; Shaikh Abdul Razak, Shaikh Hamzah; Alhabshi, Syed Othman; Seyed Sadr, Seyed Kazem (2017)

  • The hard core poor are neither bankable nor covered against risks. Whilst micro-finance seems to solve financial inclusion for this group to some extent, albeit at very high costs, very little have been done to provide sufficient cover against risks of all sorts for this group. Some attempts at developing micro-takaful are actually in the pipeline, however, very little concrete and practical solutions have emerged so far. It is of course well-known that Islamic Social Financial Institutions (ISFI), namely zakah, waqf, infaq and qard-hassan are meant to directly benefit the less fortunate in society, but little has been done to ensure that they directly benefit from these institutions....

  • IF_how_can_reduce_gap_between_rich_poor.pdf.jpg
  • Academic Presentation


  • Authors: Ismail Abdel Mohsin, Magda (2017)

  • The main objectives of this study are: 1) to present the main cause of the huge gap between the rich and the poor since 1970s; 2) to highlight the Islamic approach in handling economic development in a just and ethical manner; 3) to present the alternative financial institutions to interest/riba-based institution providing their financial products, their objective and their impact in narrowing the gap between the rich and the poor.

  • Past_present_2681.jpg.jpg
  • Chapter in Book


  • Authors: Ismail Abdel Mohsin, Magda (2017)

  • Historically, the non-profit institution of waqf has played a remarkable role in developing the Islamic societies as well as in assisting the Islamic state in providing social welfare services in the health and educational sectors, supplying the basic infrastructure, providing jobs, enhancing commercial and business activities, providing food for the hungry, shelter for the poor and the needy, in addition to supporting the agricultural and industrial sectors, without incurring any cost to the government. However, this positive role played by waqf deteriorated since the end of the 19th century and has continued to deteriorate to the present time.

  • zakah_social_financial_institutions_just_equitable_distribution_wealth.pdf.jpg
  • Academic Presentation


  • Authors: Ismail Abdel Mohsin, Magda (2017)

  • The slides highlight: 1) to show how the institution of zakah, which is one of the socio-financial institutions, can collect huge amount of funds to be redistributed to the less fortunate and hence not only narrowing the gap between the rich and the poor but eradicating poverty on annual basis while eliminating riba from Muslim society; 2) current scenario poverty in Muslim countries; 3) current situation of zakah in Muslim countries; 4) current successful cases in Sudan and Malaysia.

  • financing_development_old_waqf_properties.pdf.jpg
  • Academic Presentation


  • Authors: Ismail Abdel Mohsin, Magda (2017)

  • The slides highlight: 1) definition of waqf; 2) current scenation of waqf; 3) transforming old waqf properties into productive waqf.