Publication:
Feasibility of corporate waqf as a vehicle for Islamic microfinance, case study of Bangladesh
Abstract
Studies of Islamic micro finances, sustainability and its development are an important thought in the Islamic finance arena. The global socio economic problems are in increasing motions provoking the betterment of the Muslim ummah and society in general, resulted in widening the gap between the poor and the rich. Muslim ummah in the need for an economy that will bridge the gap among the strata of society. Hence, Islamic micro finance considered as an alternative Shariah compliant tool for Muslims to distribute their wealth in a way that will produce a productive nation. However, studies showed that due to the lack of sufficient fund in IMFIs, the institution had the minimum reach if compared to its conventional counterpart. Islamic micro finance relatively does lack of fund if compared to its conventional peer and hence it's affecting its performance. In the Islamic socioeconomic concept, there is a source of social fund that is economically and politically free of charge, namely; cash waqf. This study tries to bring forward a new concept of obtaining a perpetual fund to support Islamic micro finance by encouraging not only the individual, but the corporate world by utilising their corporate social responsibility to create corporate waqf. Examining the case of Bangladesh, the institution of waqf will play a vital role in providing a perpetual fund to support Islamic micro finance.
Keywords
Corporate waqf , Islamic microfinance , Corporate social responsibility , Bangladesh , Project paper (MSc)
Citation
Muhammad, H. (2016). Feasibility of corporate waqf as a vehicle for Islamic microfinance, case study of Bangladesh (Master dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/2641
Publisher
INCEIF
Available in downloadable format. Kindly email to kmc@inceif.org to access the item