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Reply from Dr. Amri Panahatan Sihotang
2024.11.05 13:00:56
The governance and regulation of waqf (endowments) vary significantly across
countries, influenced by cultural, historical, and legal contexts. Here are some key
differences and their potential impacts on productive waqf in relation to poverty
alleviation and community development:
Legal Framework:
In some countries, waqf is governed by specific laws that provide a clear structure
for the establishment, management, and oversight of waqf properties. For example,
countries like Turkey have a well-defined legal framework that supports the
productive use of waqf assets.
In contrast, in countries where waqf is less regulated, such as in parts of Africa, the
lack of formal legal recognition can lead to mismanagement and underutilization of
waqf assets.
Management Practices:
Countries with strong institutional frameworks, such as Malaysia, often have
dedicated waqf boards or agencies that oversee waqf management, ensuring
transparency and accountability. This can enhance the effectiveness of productive
waqf initiatives.
Conversely, in countries where waqf management is fragmented or lacks
accountability, there may be inefficiencies and corruption, limiting the potential of
waqf to contribute to community development.
Community Engagement:
In some regions, waqf is closely tied to community needs and development
priorities, with local stakeholders actively involved in decision-making. This
participatory approach can enhance the relevance and impact of productive waqf
projects on poverty alleviation.
In contrast, if waqf governance is centralized and disconnected from community
needs, it may result in initiatives that do not effectively address local poverty or
development challenges.
Investment Strategies:
Countries that encourage innovative investment strategies for waqf assets, such as
social entrepreneurship and impact investing, can leverage waqf for sustainable
economic development.
Conversely, if waqf assets are primarily used for non-productive purposes or tradit
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