Towards developing Islamic Equity Crowdfunding-Waqf Model (IECWM) to harness the potential of waqf land in Malaysia

Over the centuries including during the era of Islamic civilization, Waqf land has played a significant role towards enhancing the social and economic status of the Muslim societies. However, in the contemporary times, Waqf land is facing the problem of underdevelopment particularly in the context o...

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Main Authors:	Mohd Thas Thaker, Mohamed Asmy, Mohd Thas Thaker, Hassanudin
Other Authors:	Haron, Razali
Format:	Book Chapter
Language:	English
Published:	IIUM Institute of Islamic Banking and Finance 2019
Subjects:	H Social Sciences (General)
Online Access:	http://irep.iium.edu.my/73085/ http://irep.iium.edu.my/73085/1/73085_Towards%20developing%20Islamic%20Equity.pdf

id	iium-73085
recordtype	eprints
spelling	iium-730852020-02-28T09:07:12Z http://irep.iium.edu.my/73085/ Towards developing Islamic Equity Crowdfunding-Waqf Model (IECWM) to harness the potential of waqf land in Malaysia Mohd Thas Thaker, Mohamed Asmy Mohd Thas Thaker, Hassanudin H Social Sciences (General) Over the centuries including during the era of Islamic civilization, Waqf land has played a significant role towards enhancing the social and economic status of the Muslim societies. However, in the contemporary times, Waqf land is facing the problem of underdevelopment particularly in the context of Malaysia. Currently, there are around 11,091.82 hectares of Waqf land in Malaysia that is worth about RM4 billion or equivalent to US$0.9 billion (Ali et al., 2015). Though, State Islamic Religious Councils (SIRCs) have a huge number of potential Waqf land, most of the lands are however still lying idle and remained undeveloped, mainly due to liquidity constraints or shortage of financial resources by SIRCs. Liquidity constraints have been considered as a main factor that hindered the execution of the various development plans of Waqf land in Malaysia. This thus calls for more innovative financing mechanism that can help to harness the potential of Waqf land. With this initiative, the research is developing a sustainable source of financing by integrating elements of crowdfunding and Waqf. The proposed model is known as Islamic Equity Crowdfunding-Waqf Model (IECWM). The proposed model will assist Waqf institution in identifying sustainable financing source to develop Waqf land in Malaysia. Through this, Malaysia will play a leading role among the OIC member states with the noble idea of Islamic crowdfunding and Waqf land development. IIUM Institute of Islamic Banking and Finance Haron, Razali Abdullah, Adam 2019 Book Chapter PeerReviewed application/pdf en http://irep.iium.edu.my/73085/1/73085_Towards%20developing%20Islamic%20Equity.pdf Mohd Thas Thaker, Mohamed Asmy and Mohd Thas Thaker, Hassanudin (2019) Towards developing Islamic Equity Crowdfunding-Waqf Model (IECWM) to harness the potential of waqf land in Malaysia. In: Islamic Fund & Wealth Management: A way forward. IIUM Institute of Islamic Banking and Finance, Kuala Lumpur, Malaysia, pp. 37-48. ISBN 978-983-44568-4-9
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	H Social Sciences (General)
spellingShingle	H Social Sciences (General) Mohd Thas Thaker, Mohamed Asmy Mohd Thas Thaker, Hassanudin Towards developing Islamic Equity Crowdfunding-Waqf Model (IECWM) to harness the potential of waqf land in Malaysia
description	Over the centuries including during the era of Islamic civilization, Waqf land has played a significant role towards enhancing the social and economic status of the Muslim societies. However, in the contemporary times, Waqf land is facing the problem of underdevelopment particularly in the context of Malaysia. Currently, there are around 11,091.82 hectares of Waqf land in Malaysia that is worth about RM4 billion or equivalent to US$0.9 billion (Ali et al., 2015). Though, State Islamic Religious Councils (SIRCs) have a huge number of potential Waqf land, most of the lands are however still lying idle and remained undeveloped, mainly due to liquidity constraints or shortage of financial resources by SIRCs. Liquidity constraints have been considered as a main factor that hindered the execution of the various development plans of Waqf land in Malaysia. This thus calls for more innovative financing mechanism that can help to harness the potential of Waqf land. With this initiative, the research is developing a sustainable source of financing by integrating elements of crowdfunding and Waqf. The proposed model is known as Islamic Equity Crowdfunding-Waqf Model (IECWM). The proposed model will assist Waqf institution in identifying sustainable financing source to develop Waqf land in Malaysia. Through this, Malaysia will play a leading role among the OIC member states with the noble idea of Islamic crowdfunding and Waqf land development.
author2	Haron, Razali
author_facet	Haron, Razali Mohd Thas Thaker, Mohamed Asmy Mohd Thas Thaker, Hassanudin
format	Book Chapter
author	Mohd Thas Thaker, Mohamed Asmy Mohd Thas Thaker, Hassanudin
author_sort	Mohd Thas Thaker, Mohamed Asmy
title	Towards developing Islamic Equity Crowdfunding-Waqf Model (IECWM) to harness the potential of waqf land in Malaysia
title_short	Towards developing Islamic Equity Crowdfunding-Waqf Model (IECWM) to harness the potential of waqf land in Malaysia
title_full	Towards developing Islamic Equity Crowdfunding-Waqf Model (IECWM) to harness the potential of waqf land in Malaysia
title_fullStr	Towards developing Islamic Equity Crowdfunding-Waqf Model (IECWM) to harness the potential of waqf land in Malaysia
title_full_unstemmed	Towards developing Islamic Equity Crowdfunding-Waqf Model (IECWM) to harness the potential of waqf land in Malaysia
title_sort	towards developing islamic equity crowdfunding-waqf model (iecwm) to harness the potential of waqf land in malaysia
publisher	IIUM Institute of Islamic Banking and Finance
publishDate	2019
url	http://irep.iium.edu.my/73085/ http://irep.iium.edu.my/73085/1/73085_Towards%20developing%20Islamic%20Equity.pdf
first_indexed	2023-09-18T21:43:38Z
last_indexed	2023-09-18T21:43:38Z
_version_	1777413304787927040

Towards developing Islamic Equity Crowdfunding-Waqf Model (IECWM) to harness the potential of waqf land in Malaysia

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