Financing the Development of Old Waqf Properties

27 Oct 2016, Kuala Lumpur – INCEIF is pleased to add another important tittle to our existing growing list of books published by our faculty members.  More than that, the “Financing the Development of Old Waqf Properties” book resulted from a research carried out by its team of authors and funded by Khazanah Nasional Bhd.


The book, which looked into the classical principles and innovative practices of waqf around the world, is authored by Assoc Prof Dr Magda Ismail with co-researchers Hisham Dafterdar of Awaqf New Zealand and Canadian Islamic Trust Foundation; Prof Murat Cizakca; Prof Datuk Syed Othman Alhabshi, Assoc Prof Dr Shaikh Hamzah Abdul Razak and Emeritus Prof Seyed Kazem Sadr of INCEIF; INCEIF Alumnus Thamina Anwar of University of KwaZulu-Natal, South Africa; and Mohammed Obaidullah of Islamic Development Bank.

The book presents successful case studies in Muslim and Muslim minority countries that have revolutionised 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 galvanising the socioeconomic role of waqf by adopting its flexible Shariah measures. Innovative ways of financing redevelopment has allowed 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.

For the e-book, visit Printed version of the book would be made available soon.

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