Waqf in Islamic Economics and Finance: An Instrument for Socioeconomic Welfare (Islamic Business and Finance Series)

Waqf is emerging globally as a distinctive institution, serving as a vital bridge between societal and economic needs, and resource allocation.Waqfs functioning in some parts of the world, of a variety of assets such as cash, stocks, securities, intellectual property rights, and other financial instruments by individual, institutional, and corporate waqifs, are paving the way for financial and social inclusion.This book explains how the system of awqaf leads to welfare in society by facilitating financial and social intermediation. It describes waqf in accessible terms, focusing on how it helps people, communities, and nations, and how it can help make societies equitable, peaceful, efficient, and more prosperous.It comprises eight key themes, including a brief overview of the historical role of waqf in various periods in Muslim societies in socioeconomic sectors; the evolutionary aspects of waqf as an institution; the role of waqf in promoting entrepreneurship; the role of awqaf syste