A brief history of waqf: an Islamic socio-financial institution of philanthropic endowment
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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 this institution play in the past? Why its role declined in the past century? How to revive its role again? What can this institution provide to the different Muslim societies today?
Waqf , Islamic socio-financial institution , Endowment
Ismail Abdel Mohsin, Magda. (2019). A brief history of waqf: an Islamic socio-financial institution of philanthropic endowment. Sahulat, 7 (2), pp 7-22.
Sahulat Microfinance Society