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Financing the Development of Old Waqf Properties Classical Principles and Innovative Practices Around the World.

, Classical Principles and Innovative Practices Around the World.
Additional authors: Mohsin, Magda Ismail Abdel. | Dafterdar, Hisham. | Cizakca, Murat. | Othman Alhabshi, -- Syed. | Razak, Shaikh Hamzah Abdul.
Series: Palgrave studies in Islamic banking, finance, and economics Published by : Palgrave Macmillan (New York :) Physical details: xxvii, 267 p.; 23 cm.
Subject(s): Waqf. | Finance. | Banking. | Electronic books | RELIGION -- Islam -- General.
Year: 2016
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Includes bibliographical references and index.

Foreword; Preface; Methodology of the Research; Rationale for the Book; Organization of the Book; Chapter 1: Legal Framework of the Institution of Waqf; Chapter 2: Development and Administration of the Institution of Waqf (Past and Present); Chapter 3: The Role of Waqf in Modern Economic Development; Chapter 4: Current Development of Waqf Properties and Their socioeconomic Roles in Various Countries; Chapter 5: Waqf Development: The Islamic Development Bank Experience; Chapter 6: Modus Operandi and Structures of the Classical and Innovative Modes of Finance; Special Message

Acknowledgment; Contributors ; Contents; Abbreviations; List of Figures ; List of Tables ; Chapter 1: Legal Framework of the Institution of Waqf; 1.1 Definition of Waqf; 1.2 Classification of Waqf Properties; 1.2.1 Classification Based on al-Mawquf 'Alaihim/the Beneficiaries; 1.2.2 Classification Based on al-Mawquf/Endowed Property; 1.2.2.1 Manqul & Ghair Manqul/Movable and Immovable; 1.2.2.2 Sahih & Ghair Sahih/Sound and Unsound; 1.2.2.3 Mubashir & Ghair Mubashir/Direct and Indirect; 1.3 Key Restrictions for the Creation of Waqf; 1.3.1 Irrevocability of Waqf; 1.3.2 Perpetuity of Waqf

1.3.3 Inalienability of Waqf; 1.4 Ten Stipulations for the Creation of Waqf; 1.4.1 Ziyadah (Increase) and Nuqsan (Decrease); 1.4.2 Idkal (Addition) and Ikhraj (Removal); 1.4.3 I'ta' (Granting) and Hirman (Dispossession); 1.4.4 Taghyir (Replacement) and Tabdil (Conversion); 1.4.5 Istibdal (Substitution) and Ibdal (Exchange); 1.5 Classical Modes of Investing and Financing Waqf Properties; Bibliography; Chapter 2: Development and Administration of the Institution of Waqf (Past and Present); 2.1 Creation of Waqf During the Prophet (Pbuh); 2.2 Administration of Waqf During Islamic Civilization

2.3 Current Status of Waqf; Bibliography; Chapter 3: The Role of Waqf in Modern Economic Development; 3.1 Introduction; 3.2 Historical Overview; 3.3 The Third Economic Sector; 3.4 Custody and Management of Waqf; 3.5 Creating an Enabling Legal Environment; 3.6 The Business Face of Waqf; 3.7 Sustainability and Profitability of Waqf; 3.8 Waqf Public and Private Sector Partnerships; 3.9 Waqf Support of Small- and Medium-sized Enterprises; 3.9.1 Waqfs' Financial Support; 3.9.2 Waqf's Non-financial Support; 3.10 Policy Implications; 3.11 Concluding Remarks; Bibliography

Chapter 4: Current Development of Waqf Properties in Selected Countries and Their Socioeconomic Roles; 4.1 Financing the Development of Waqf Properties in Turkey; 4.1.1 History of Waqf in the Ottoman Empire and the Turkish Republic; 4.1.2 Centralization of the Waqf System; 4.1.3 Current Administration of Waqfs in Turkey; 4.1.4 The Development of the Law of Waqf in Turkey; 4.1.5 The 2008 Law of Waqfs; 4.1.6 Cases of Turkish Waqfs; 4.1.7 Conclusion; 4.2 Financing the Development of Waqf Properties in Malaysia; 4.2.1 Overview of the Institution of Waqf in Malaysia

This book presents successful case studies in Muslim and Muslim minority countries that have revolutionized the redevelopment of idle waqf properties into productive land trusts. The revival of this institution over the last two decades shows the growing optimism in galvanizing the socioeconomic role of waqf by adopting its flexible shariah measures. Innovative ways of financing redevelopment allow Muslims to extend these roles to include new beneficiaries. New uses for these properties include providing services to the community, opening jobs for the majority of people, funding small entrepreneurs, educating the masses, providing health care, and sheltering the poor and needy. Countries under study include Sudan, Turkey, Malaysia, Indonesia, Singapore, New Zealand, Kuwait, Oman, Qatar, and Iran. Additionally, the book examines the International Development Bank's role in financing the development old waqf properties in different countries

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