THE WORLD'S OLDEST UNIVERSITY AND ITS FINANCING EXPERIENCE: A STUDY ON AL-QARAWIYYIN UNIVERSITY (859-990)

Al-Qarawiyyin University's independence in terms of finances had been a significant and influential factor in making it possible for the university to maintain its high quality. Therefore, this paper aims to examine and analyse the financial sources for the development and operation of this university. It reviews and analyses historical data through relevant literature and documents. Waqf played a significant role in providing financial assistance to the university's communities and in strengthening its academic quality. There were four significant types of waqf sources which were the individual fund, the collective waqf fund, the Sultan fund and the alumni fund along with different other types of charities, i.e. sadaqah. This article adds new knowledge by examining the financing experiences of the world's oldest university. It is expected that the instance of Al-Qarawiyyin University may contribute to finding out a solution for the funding crises in contemporary institutions. This review is hoped to constitute a significant contribution to scholarship in general and act as a suggestion for solving the contemporary funding crisis of higher educational institutions.   Keywords: Al-Qarawiyyin University, financing higher education, Morocco, Waqf.   Cite as: Hoque, M. N., & Abdullah, M. F. (2021). The world's oldest university and its financing experience: A study on Al-Qarawiyyin University (859-990).  Journal of Nusantara Studies, 6(1), 24-41. http://dx.doi.org/10.24200/jonus.vol6iss1pp24-41