What Is Holding Back the Revival of The Waqf Institution?
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Abstract
In the early years of Islamic civilization, the Waqf institution served many important purposes for Muslims, offering essential services across various sectors. However, the role of Waqf has declined since the 19th century. At the present time, most Waqf properties have been neglected, become unproductive, or illegally occupied. As a result, the Waqf institution’s ability to provide crucial services has weakened considerably. However, according to estimates, the global
value of Waqf assets ranges from USD 100 billion to USD 1 trillion. This means that if used correctly, Waqf has the potential to improve the lives of Muslims significantly. This paper discusses some of the challenges that the Waqf institution must overcome in order to, once again, regain its crucial position in the Muslim community.
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