Toward a Global Waqf Fund for Refugees: A Proposed Conceptual Model

Abstract

This paper proposes a conceptual model of a Refugee Waqf Fund (WRF). The objective of the model is to tap into the Islamic institution of waqf as a potential fund-mobilization instrument to address the growing humanitarian needs of millions of refugees. The rationale behind the model is grounded on factual observations deduced from the ongoing global refugee crisis. The model integrates the two types of waqf, in-kind and cash waqf, as key sources of funds. Temporary and perpetual waqf are proposed to constitute the basis for waqf sukuk. A clear distinction has been made between emergency aid and long-term durable solutions for refugees. Another contrast is drawn between the core poor refugees and those who are economically active. This study provides insights to policy makers and stakeholders in humanitarian assistance on how to tap into waqf as a potential philanthropic source of funding for humanitarian action.