Waqf in Islamic Economics and Finance

<p><em>Waqf</em> is emerging globally as a distinctive institution serving as a vital bridge between societal and economic needs and resource allocation.<em> Waqfs</em> functioning in some parts of the world of a variety of assets such as cash stocks securities intellectual property rights and other financial instruments by individual institutional and corporate <em>wāqifs</em> are paving the way for financial and social inclusion. This book explains how the system of <em>awqāf </em>leads to welfare in society by facilitating financial and social intermediation.</p><p>It describes <em>waqf </em>in accessible terms focusing on how it helps people communities and nations and how it can help make societies equitable peaceful efficient and more prosperous. It comprises eight key themes including a brief overview of the historical role of <em>waqf</em> in various periods in Muslim societies in socioeconomic sectors; the evolutionary aspects of <em>waqf </em>as an institution; the role of<em> waqf </em>in promoting entrepreneurship; the role of awqāf system in an economy by facilitating financial and social intermediation; potential options for using <em>waqf</em> as financial intermediation; an overview of the management and regulation of <em>waqf </em>entities; the organizational and legal framework for the institution of <em>waqf</em>; and key findings and recommendations for realizing the capacity of <em>waqf</em> in the pursuit of socioeconomic welfare. Specifically the book takes Pakistan as a case study.</p><p>This research-oriented book is tailored to readers interested in understanding the fundamental concepts of Islamic finance and social welfare without requiring a background in the discipline. It caters to academics researchers policymakers and those keen on exploring the transformative potential of <em>waqf </em>to achieve societal welfare and shared economic growth.</p>