Awqāf: Social Spending, Development Strategy and Financing

Abstract

A revitalization and development of old awqāf could generate notable revenues to finance social expenditures (although probably less than very optimistic estimates suggest). Awqāf should be conceived as institutions of the civil society, but they are actually managed by ministries or state agencies in most Muslim jurisdictions. Decisions on comprehensive awqāf development schemes should be made in a participatory setting that is compatible with the geographical coverage of waqf-based social benefits and gives awqāf beneficiaries an organized voice. The financing of revitalization projects can be supported by cash awqāf that can attract funds from people of all means. Further resources could be mobilized if fiqh and awqāf laws accept usufructs and financial rights as the basis for a waqf.