Roles of Waqf in Supporting Economy Recovery Post Covid-19 Pandemic
Abstract
The Covid-19 pandemic that has occurred since the end of 2019 has caused many problems in human life. The problems are not only in the health sector but also in the economy, education, and social welfare. This paper aims to identify the roles of waqf as an instrument that can be an alternative to overcome those economic and social problems. This study employed qualitative research designed using document analysis of journal articles, books, reports, online resources, policy documents, and related published material. Waqf has demonstrated its significant role in addressing the challenges posed by the COVID-19 pandemic, providing solutions in various sectors such as healthcare, social welfare, education, and economic recovery. Waqf has played an important role as a provider of relief and eased the burden on communities affected by the pandemic. In addition, another role that needs to be played by waqf manager (nazir) is to build collaboration between waqf institutions, governments, and international organizations are essential to ensure the sustainable utilization of waqf assets for the benefit of society. This study could shed light on how waqf institutions could plan, strategize, and implement appropriate measures to assist those affected by the pandemic in the future.
Keywords
Full Text:
PDFReferences
Ab Rahman, M. F., Abdullah Thaidi, H. A., Ab Rahman, A., & Ab Rahim, S. F. (2020). Peranan Wakaf Dalam Mendepani Pendemik Covid-19. Journal of Fatwa Management and Research, 22(1), 49–64. https://doi.org/10.33102/jfatwa.vol22no1.323
Abdul Kareem, I. A., Mahmud, M. S., Elaigwu, M., & Abdul Ganiyy, A. F. (2021). Mitigating the Effect of Covid-19 on the Society Through the Islamic Social Finance. The Journal of Management Theory and Practice (JMTP), 2(1), 57–61. https://doi.org/10.37231/jmtp.2021.2.1.83
Abu Zahra, M. (1972). Muhâdrât Fil-Vakf. Dar al-Fikr al-‘Arabi.
Ahmad, M. (2015). Role of Waqf in Sustainable Economic Development and Poverty Alleviation: Bangladesh Perspective. Journal of Law, Policy and Globalization, 42(2), 118–130.
Ascarya, A. (2020). Islamic Economic Solutions to Covid-19 Outbreak (Issue April). https://doi.org/10.13140/RG.2.2.25217.48485
Ascarya, A. (2022). The role of Islamic social finance during Covid-19 pandemic in Indonesia’s economic recovery. International Journal of Islamic and Middle Eastern Finance and Management, 15(2), 386–405. https://doi.org/10.1108/IMEFM-07-2020-0351
Benli, G. (2016). Hospitals in the Ottoman Period and the Work Of Sinan the Architect : Suleymaniye Complex Dar Al-Shifa and the Medical Madrasa. International Journal of Architecture and Design, 2(3), 1–9.
Bremer, J. (2004). Islamic philanthropy: Reviving traditional forms for building social justice. In CSID Fifth Annual Conference on “Defining and Establishing Justice in Muslim Societies, 7, 291.
Chowdhury, M. S. R., Ghazali, M. F., & Ibrahim, M. F. (2011). Economics of Cash WAQF Management in Malaysia: A Proposed Cash WAQF Model for Practitioners and Future Researchers. African Journal of Business Management, 5(30), 12155–12163. https://doi.org/10.5897/ajbm11.1810
Dinç, G., Naderi, S., & Kanpolat, Y. (2006). Süleymaniye Külliyesi: A historically important medical, scientific, and cultural center. Neurosurgery, 59(2), 404–409. https://doi.org/10.1227/01.NEU.0000225868.36065.6D
Diniyya, A. A. (2019). Development Of Waqf Based Microfinance And Its Impact In Alleviating The Poverty. Ihtifaz: Journal of Islamic Economics, Finance, and Banking, 2(2), 107. https://doi.org/10.12928/ijiefb.v2i2.879
Faturohman, T., Farras Ar Rasyid, M., Rahadi, R. A., Darmansyah, A., & Afgani, K. F. (2021). The Potential Role of Islamic Social Finance in the Time of COVID-19 Pandemic. Review of Integrative Business and Economics Research, 10(January 2021), 95–105.
Fawwaz, M. F. A., Juliana, J., Cakhyaneu, A., Muhammad, M., & Marlina, R. (2021). Waqf as Alternative Financing Resource for Infrastructure Development in Indonesia: Analytical Hierarchy Process Approach. Jurnal Kajian Peradaban Islam, 3(2), 50–58. https://doi.org/10.47076/jkpis.v3i2.53
Hassan, N., Rahman, A. A.-, & Yazid, Z. (2018). Developing a New Framework of Waqf Management. International Journal of Academic Research in Business and Social Sciences, 8(2). https://doi.org/10.6007/ijarbss/v8-i2/3872
Hidayat, S. E. (2020). Islamic Economy in ASEAN Countries During the Covid 19 Era. In ASEAN Studies Center Universitas Medan Area Webinar.
Ibrahim, D., Zainuri, A., & Huda, M. (2020). Empowering Wakaf (Islamic endowment) for Economic Development: An Insightful Value of Nazir Waqf in Indonesia. UMRAN - International Journal of Islamic and Civilizational Studies, 7(1), 103–114. https://doi.org/10.11113/umran2020.7n1.405
Iskandar. (2020). Implementasi Wakaf Uang pada Masa Kesultanan Utsmaniyah. Al-Hisab: Jurnal Ekonomi Syariah, 1(1), 1–7.
Iskandar, A., Possumah, B. T., & Aqbar, K. (2020). Peran Ekonomi dan Keuangan Sosial Islam saat Pandemi Covid-19. SALAM: Jurnal Sosial Dan Budaya Syar-I, 7(7), 525–638. https://doi.org/10.15408/sjsbs.v7i7.15544
Iskandar, I. (2022). Waqf Institution and Management Cash Waqf During The Ottoman Period. 48 International Journal of Islamic Business and Economics (IJIBEC), 6(1), 37–51. https://doi.org/10.28918/ijibec.v6i1.4851
Islamtics. (2020). A Saudi Man donated “$16 Billion” In Charity and kicked himself out of the billionaires club. Islamtics. https://islamtics.com/a-saudi-man-who-donated-16-billion-in-charity-and-kicked-himself-out-of-the-billionaires-club/
Kahf, M. (2003). The Role of Waqf in Improving the Ummah Welfare. The International Seminar on “Waqf as a Private Legal Body.” https://doi.org/10.1108/IMEFM-08-2013-0094
Kahf, Monzer. (2016). Waqf: a Quick Overview. http://monzer.kahf.com/papers/english/WAQF_A_QUICK_OVERVIEW.pdf
Kasdi, A., Karim, A., Farida, U., & Huda, M. (2022). Development of Waqf in the Middle East and its Role in Pioneering Contemporary Islamic Civilization: A Historical Approach. Journal of Islamic Thought and Civilization, 12(1), 186–198. https://doi.org/10.32350/jitc.121.10
Kudat, A., & Ceyhan, S. (2020). Fundamental Principles of Cash Waqfs and Their Management Para. Third Sector Social Economic Review, 55(4), 2557–2578. https://doi.org/10.15659/3.sektor-sosyal-ekonomi.20.11.1468
Kuran, T. (2001). The Provision of Public Goods under Islamic Law : Origins , Impact , and Limitations of the Waqf System. Law & Society Review, 35(4), 841–898.
Lawal, I. M., & Ajayi, J. M. A. (2019). The role of Islamic social finance towards alleviating the humanitarian crisis in North-East Nigeria. Jurnal Perspektif Pembiayaan Dan Pembangunan Daerah, 6(5), 545–558. https://doi.org/10.22437/ppd.v6i5.6508
Lēv, Y. (2005). Charity, endowments, and charitable institutions in medieval Islam. Univ. Press of Florida.
Listiana, L. (2019). Waqf and Impact Investment in Indonesia: Lessons from Social Impact Bond (SIB). In Blending Islamic Finance and Impact Investing for The SDGs (Issue December).
Mohsin, M. I. A., Dafterdar, H., Cizakca, M., Alhabshi, S. O., Razak, S. H. A., Sadr, S. K., Anwar, T., & Obaidullah, M. (2016). Financing The Devlopment of Old Waqf Properties. In Financing the Development of Old Waqf Properties (pp. 37–220). Palgrave Macmillan. https://doi.org/10.1057/978-1-137-58128-0_4
Moses, C. J. J. (2021). Establishing a Waqf: Space and the Study of Islam. Ethnic and Racial Studies, 44(10), 1799–1820. https://doi.org/10.1080/01419870.2020.1846765
Nurjannah, & Abdullah, M. W. (2020). Cash Waqf : Economic Solution during the Covid-19 Pandemic waqf ( al-mauquf alaih ) who were not limited to religious provisions , there would equal distribution of aid to help slow economic recovery . Fitrah: Jurnal Kajian Ilmu-Ilmu Keislaman, 6(2), 223–242.
Othman, Y. H., Cheumar, M., & Abdullah, N. (2022). The Role of Islamic Social Finance Instruments in Reviving the Economy during the Covid-19 Pandemic Crisis in Malaysia. International Journal of Academic Research in Business and Social Sciences, 12(6), 807–819. https://doi.org/10.6007/ijarbss/v12-i6/14037
Qudamah, I. (1985). Al-Mughni (5th ed.). Beirut: Dar al-Kutub al-‘Arabi.
Sadeq, A. M. (2002). Waqf, perpetual charity and poverty alleviation. International Journal of Social Economics, 1(2), 135–151.
Shaikh, S. A., Ismail, A. G., & Mohd Shafiai, M. H. (2017). Application of for social and development finance. ISRA International Journal of Islamic Finance, 9(1), 5–14. https://doi.org/10.1108/IJIF-07-2017-002
Sharif, A., Aloui, C., & Yarovaya, L. (2020). COVID-19 pandemic, oil prices, stock market, geopolitical risk and policy uncertainty nexus in the US economy: Fresh evidence from the wavelet-based approach. International Review of Financial Analysis, 70(May), 101496. https://doi.org/10.1016/j.irfa.2020.101496
Singer, A. (2012). Constructing Ottoman Beneficence: An imperial soup kitchen in Jerusalem. SUNY Press.
Sulaiman Bin Abdulaziz Al Rajhi Charitable Foundation. (2022). Charities and Projects Count by Administrative regions. Sulaiman Bin Abdulaziz Al Rajhi Charitable Foundation. https://www.rf.org.sa/en
Tahiri Jouti, A. (2019). An integrated approach for building sustainable Islamic social finance ecosystems. ISRA International Journal of Islamic Finance, 11(2), 246–266. https://doi.org/10.1108/IJIF-10-2018-0118
The Lancet. (2020). Humanitarian Crises in a Global pPandemic. https://doi.org/10.1016/S0140-6736(20)31749-9
Umar, H. U. (2021). Adapting the Al Rajhi waqf model to mitigate the impact of COVID-19 on the ummah. In COVID-19 and Islamic Social Finance (1st ed.). Routledge.
Umar, U. H., Baita, A. J., Haron, M. H. Bin, & Kabiru, S. H. (2022). The potential of Islamic social finance to alleviate poverty in the era of COVID-19: the moderating effect of ethical orientation. International Journal of Islamic and Middle Eastern Finance and Management, 15(2), 255–270. https://doi.org/10.1108/IMEFM-07-2020-0371
UNOCHA. (2021). COVID-19 Global Humanitarian Response Plan. https://fts.unocha.org/appeals/952/summary
Usman, N. (2014). Pengelolaan Wakaf Produktif Untuk Kesehatan. Muaddib, 04(02), 1–20.
Vakıf Genel Müdürlüğü. (2007). İlginç Vakıflar (T. Türker (ed.)). Ankara: Vakıf Genel Müdürlüğü.
Victoria, O. A., Pujirahayu, E. W., Khisni, A., & Ong, R. (2019). Law Development Of Waqf Al-Nuqud ( Cash Waqf ) Towards Electronic Waqf ( E- Waqf ) Based On Public Welfare. LDJ:Law Development Journal, 1(1), 13–17.
Wang, C., Wang, D., Abbas, J., Duan, K., & Mubeen, R. (2021). Global Financial Crisis, Smart Lockdown Strategies, and the COVID-19 Spillover Impacts: A Global Perspective Implications From Southeast Asia. Frontiers in Psychiatry, 12(September). https://doi.org/10.3389/fpsyt.2021.643783
World Bank Group. (2020). Global economic prospects: A World Bank Group flagship report (Issue June).
https://openknowledge.worldbank.org/bitstream/handle/10986/33748/9781464815539.pdf
Yayla, H. E. (2011). Operating regimes of the government: Accounting and accountability changes in the sultan süleyman waqf of the ottoman empire (the 1826 experience). Accounting History, 16(1), 5–34. https://doi.org/10.1177/1032373210389320
Yılmaz, Y. (2013). Kanûnî Vakfiyesi, Süleymaniye Külliyesi ve Süleymaniye Camii. Din ve Hayat, 82–91.
Zakariyah, Y., Zakariyah, H., & Nor, A. M. (2021). Waqf Potentials as a Relief Tool During Covid-19 Lockdown in Lagos, Nigeria. In B. Alareeni, A. Hamdan, & I. Elgedawy (Eds.), The Importance of New Technologies and Entrepreneurship in Business Development: In The Context of Economic Diversity in Developing Countries: The Impact of New Technologies and Entrepreneurship on Business Development (pp. 1859–1869). Springer International Publishing.
Zuhaily, W. (1985). Al- Fiqh al- Islāmy wa Adillatuhu (Juz VII). Damascus: Dar Al-Fikr.
Zuki, M. S. M. (2012). Waqf and its role in socio-economic development. ISRA International Journal of Islamic Finance, 4(2), 173–178.
DOI: http://dx.doi.org/10.21043/ziswaf.v10i1.19824
Refbacks
- There are currently no refbacks.
Copyright (c) 2023 ZISWAF: JURNAL ZAKAT DAN WAKAF
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
This work is licensed under a Creative Commons Attribution 4.0 International License.
