Integration of waqf and Islamic microfinance for poverty reduction: a survey in Kuala Selangor, Malaysia

Waqf has generally been related to the religion and the socio-economic system of Muslim societies. It has played a vital role throughout Islamic history. On the other hand, Islamic Microfinance (IsMF) is expanding rapidly in the Muslim countries. The IsMF is considered as a key instrument for prov...

Full description

Bibliographic Details
Main Authors:	Haneef, Mohamed Aslam, Pramanik, Ataul Huq, Mohamed, Mustafa Omar, muhammad, Aliyu Dahiru, Amin, Fouad B
Format:	Article
Language:	English
Published:	IIUM Institute of Islamic Banking and Finance 2013
Subjects:	HJ Public Finance
Online Access:	http://irep.iium.edu.my/41730/ http://irep.iium.edu.my/41730/ http://irep.iium.edu.my/41730/1/INtegration_of_Waqf_Kuala_Selangor_2013.pdf

id	iium-41730
recordtype	eprints
spelling	iium-417302015-02-26T03:45:12Z http://irep.iium.edu.my/41730/ Integration of waqf and Islamic microfinance for poverty reduction: a survey in Kuala Selangor, Malaysia Haneef, Mohamed Aslam Pramanik, Ataul Huq Mohamed, Mustafa Omar muhammad, Aliyu Dahiru Amin, Fouad B HJ Public Finance Waqf has generally been related to the religion and the socio-economic system of Muslim societies. It has played a vital role throughout Islamic history. On the other hand, Islamic Microfinance (IsMF) is expanding rapidly in the Muslim countries. The IsMF is considered as a key instrument for providing funds to poor micro investors. Since both waqf and IsMF emphasize sustainability, and since waqf can assist to reduce the cost of capital in operation of IsMF, the research aims to develop an integrated waqf based microfinance model applicable in some Muslim countries. This will ensure utilisation of the combined resources of Waqf and IMF institutions in alleviating poverty, an objective that both the two institutions share. The present study focuses in in Kuala Selangor, Malaysia, using 102 sahabat (clients) from Amanah Ikhtiar Malaysia (AIM). Structural equation modeling is adopted to examine the relationship among the five constructs i.e., Waqf Resources, IsMF, Takaful, Human Resources and Poverty Alleviation. While the reliability and validity were established, the structural relationship between the constructs reveals that the model has to be modified. Specifically, the result shows only takaful has significant impact in reducing poverty while others are found to be insignificant. This suggests that the model as well as the instrument should be further developed. IIUM Institute of Islamic Banking and Finance 2013 Article PeerReviewed application/pdf en http://irep.iium.edu.my/41730/1/INtegration_of_Waqf_Kuala_Selangor_2013.pdf Haneef, Mohamed Aslam and Pramanik, Ataul Huq and Mohamed, Mustafa Omar and muhammad, Aliyu Dahiru and Amin, Fouad B (2013) Integration of waqf and Islamic microfinance for poverty reduction: a survey in Kuala Selangor, Malaysia. Journal of Islamic Finance, 2 (2). pp. 1-16. ISSN 2289-2117 (O), 2289-2109 (P) http://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/16/11
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HJ Public Finance
spellingShingle	HJ Public Finance Haneef, Mohamed Aslam Pramanik, Ataul Huq Mohamed, Mustafa Omar muhammad, Aliyu Dahiru Amin, Fouad B Integration of waqf and Islamic microfinance for poverty reduction: a survey in Kuala Selangor, Malaysia
description	Waqf has generally been related to the religion and the socio-economic system of Muslim societies. It has played a vital role throughout Islamic history. On the other hand, Islamic Microfinance (IsMF) is expanding rapidly in the Muslim countries. The IsMF is considered as a key instrument for providing funds to poor micro investors. Since both waqf and IsMF emphasize sustainability, and since waqf can assist to reduce the cost of capital in operation of IsMF, the research aims to develop an integrated waqf based microfinance model applicable in some Muslim countries. This will ensure utilisation of the combined resources of Waqf and IMF institutions in alleviating poverty, an objective that both the two institutions share. The present study focuses in in Kuala Selangor, Malaysia, using 102 sahabat (clients) from Amanah Ikhtiar Malaysia (AIM). Structural equation modeling is adopted to examine the relationship among the five constructs i.e., Waqf Resources, IsMF, Takaful, Human Resources and Poverty Alleviation. While the reliability and validity were established, the structural relationship between the constructs reveals that the model has to be modified. Specifically, the result shows only takaful has significant impact in reducing poverty while others are found to be insignificant. This suggests that the model as well as the instrument should be further developed.
format	Article
author	Haneef, Mohamed Aslam Pramanik, Ataul Huq Mohamed, Mustafa Omar muhammad, Aliyu Dahiru Amin, Fouad B
author_facet	Haneef, Mohamed Aslam Pramanik, Ataul Huq Mohamed, Mustafa Omar muhammad, Aliyu Dahiru Amin, Fouad B
author_sort	Haneef, Mohamed Aslam
title	Integration of waqf and Islamic microfinance for poverty reduction: a survey in Kuala Selangor, Malaysia
title_short	Integration of waqf and Islamic microfinance for poverty reduction: a survey in Kuala Selangor, Malaysia
title_full	Integration of waqf and Islamic microfinance for poverty reduction: a survey in Kuala Selangor, Malaysia
title_fullStr	Integration of waqf and Islamic microfinance for poverty reduction: a survey in Kuala Selangor, Malaysia
title_full_unstemmed	Integration of waqf and Islamic microfinance for poverty reduction: a survey in Kuala Selangor, Malaysia
title_sort	integration of waqf and islamic microfinance for poverty reduction: a survey in kuala selangor, malaysia
publisher	IIUM Institute of Islamic Banking and Finance
publishDate	2013
url	http://irep.iium.edu.my/41730/ http://irep.iium.edu.my/41730/ http://irep.iium.edu.my/41730/1/INtegration_of_Waqf_Kuala_Selangor_2013.pdf
first_indexed	2023-09-18T20:59:40Z
last_indexed	2023-09-18T20:59:40Z
_version_	1777410539079598080

Integration of waqf and Islamic microfinance for poverty reduction: a survey in Kuala Selangor, Malaysia

Similar Items