Advertisement

The Role of Waqf (Endowment) in Economic Development of Bosnia and Herzegovina: A Historical Overview and Future Prospects

Waqf and Socio-Economic Development
  • Edib Smolo
Chapter

Abstract

Despite a plethora of roundtable discussions and practical initiatives on sustainable socio-economic issues to solve the inequality gap between the rich and poor, policy makers and economists still remain in the dark and have not been able to unveil solutions to major social challenges to humanity concerning poverty, community empowerment, sustainability, and social injustice, globally. There are many verses in the Qurān that directs Muslims to engage in trade activities. Islam encourages social entrepreneurial ventures and gives the etiquette and spiritual guidance needed to engage in trade. Islamic Social Entrepreneurship (ISE), in particular, is vital for the Muslims to attain sustainable community empowerment, social and economic justice. Waqf (Islamic endowment) is indeed a vehicle for financing ISE and the waqf-ISE model, discussed in this paper, provides an environment that mobilizes resources to provide a platform that caters for socio-economic development. This paper showcases the waqf-ISE model which is engineered from ground zero from Islamic foundations, without emulating any Western model and provides a window of opportunity to solve many of the societal issues afflicting Bangladesh, particularly, in terms of poverty alleviation, socio-economic development and provides a platform to empower communities in a sustainable manner.

References

  1. Abdel Mohsin, M. I. (2009). Family Waqf: Its Origin, Law Prospects. Paper Presented at the Waqf Laws and Management: Reality and Prospects, Kuala Lumpur.Google Scholar
  2. Abdul Kader, S. Z. S., & Dahlan, N. H. M. (2009). Current Legal Issues Concerning Awqaf in Malaysia. Paper Presented at the Waqf Laws and Management: Reality and Prospects, Kuala Lumpur.Google Scholar
  3. Abid, S. (2017). Europe’s Endangered Species: Yugoslavia’s Forgotten Muslims: A Survey of the Indigenous Muslims of Bosnia and Herzegovina Past History—Current Situation—Future Prospects. Available Online at http://www.cyberistan.org/islamic/yugoslavia1.htm. Retrieved 22 September 2017.
  4. al-Zuhayli, W. (2007). Al-Wasaya wa al-Waqf fi al-Fiqh al-Islami. Dimashq: Dar al-Fiqr.Google Scholar
  5. Balagija, A. (1933). Uloga vakufa u verskom i svetovnom prosvećivanju naših muslimana. Beograd: Štamparija Drag. Gregorića.Google Scholar
  6. Begić, M. (Ed.). (2000). Zemljovlasnici Bosne: vlasnicke pravne norme od disolucije (31.12.1991) ex-Jugoslavije do potpisivanja Dejtonskog sporazuma (14.12.1995) [Landlords of Bosnia: Legal Norms of Ownership from the Dissolution (31 December 1991) of Ex-Yugoslavia Until the Signing of the Dayton Peace Agreement (14 December 1995)]. Sarajevo.Google Scholar
  7. Begović, M. (1963). Vakufi u Jugoslaviji. Beograd: SANU.Google Scholar
  8. Bojić, M. (2001). Historija Bosne i Bošnjaka (XVII–XX vijeka). Sarajevo: Šahinpašić.Google Scholar
  9. Čajlaković, M. (2009). Nastanak i razvoj institucije vakufa s posebnim osvrtom na vakuf u BiH. Glasnik, June (3–4), 239–256.Google Scholar
  10. Čaušević, H. (1983). Pravni i sociološki aspekti institucije vakufa-zaklade, s posebnim obzirom na njen razvoj u BiH. Anali GHB biblioteke (Vol. IX–X). Sarajevo: GHB biblioteka.Google Scholar
  11. Ćeman, S. (2007). Komparativna studija o polozaju vakufa i fondacija u serijatkom pravu i pozitivnim zakonima propisanim u Bosni i Hrcegovini [Comparative Study of Waqfs and Foundations Under Sharīʿah Law and Positive Law Legislated in Bosnia and Herzegovina] (MA). University of Sarajevo, Sarajevo.Google Scholar
  12. Ćeman, S. (2008). Vakufi i fondacije u svijetu i kod nas (sličnosti i razike). Glasnik, December (7–8), 627–641.Google Scholar
  13. Dafterdar, H. (2009). Towards Effective Legal Regulations and Enabling Environment for Awqaf. Paper Presented at the Waqf Laws and Management: Reality and Prospects, Kuala Lumpur.Google Scholar
  14. Dobrača, K. (1976). Vakufname u GHB biblioteci. Anali GHB biblioteke (Vol. IV). Sarajevo: GHB biblioteka.Google Scholar
  15. Durmišević, E. (2002). Uspostava i pravni položaj Rijaseta Islamske zajednice u Bosni i Hercegovini: 1882–1899. Sarajevo: Magistrat.Google Scholar
  16. El-Buhari, M. I. I. (2009). Sahihu-l-Buhari: Buharijeva zbirka hadisa (E. Ljevaković, H. Popara, M. Mehanović, Š. Ramić, H. Mehanović, & A. Adilović, Trans., Vol. 2). Sarajevo: Visoki saudijski komitet.Google Scholar
  17. El-Munziri. (2004). Muslimova zbirka hadisa: sažetak (M. Mrahorović, M. Prljača, N. Karaman, J. Karaman, & A. Mujezin, Trans.). Sarajevo: El-Kalem.Google Scholar
  18. Esmaeili, H. (2009). The Relationship Between the Waqf Institution in Islamic Law and the Rule of Law in the Middle East. Paper Presented at the Waqf Laws and Management: Reality and Prospects, Kuala Lumpur.Google Scholar
  19. Handžić, A. (1983). Husrev-begov vakuf na prelazu iz XVI u XVII stoljeće. Anali GHB biblioteke (Vol. IX–X). Sarajevo: GHB biblioteka.Google Scholar
  20. Hrvačić, E. (2000, December). Restitucija i njeno pravno utemeljenje [Restitution and Its Legal Origins], [Tuzla, Bosnia and Herzegovina]. Hikmet 9–12, 265.Google Scholar
  21. Ibn Ābidīn. Radd al-Muhtār alā al-Durr al-Mukhtār (Vol. 3). Beirut: Dār al-Maktab al-Ilmiyyah.Google Scholar
  22. Karcić, F. (1983). Međunarodnopravno regulisanje vakufskih pitanja u jugoslovenskim zemljama [Solving the Issues of Waqf by International Law in the States of Yugoslavia]. Anali GHB biblioteke (Vol. IX–X, pp. 141–154). Sarajevo: GHB biblioteka.Google Scholar
  23. Karcić, F. (1999). The Bosniaks and the Challenges of Modernity, Late Ottoman and Hapsburg Times. Sarajevo: El-Kalem.Google Scholar
  24. Koštović, N. (1995). Sarajevo između dobrotvorstva i zla. Sarajevo: El-Kalem.Google Scholar
  25. Mahmud, M. W., & Shah, S. S. (2009). Optimization of Philanthropic Waqf: The Need for Maqasid-Based Legislative Strategies. Paper Presented at the Waqf Laws and Management: Reality and Prospects, Kuala Lumpur.Google Scholar
  26. Mulalić, H. M. (2001). Institucija vakufa u BiH. Sarajevo: Svjetlost.Google Scholar
  27. Obolensky, D. (2004). The Bogomils: A Study in Balkan Neo-Manichaeism. Cambridge: Cambridge University Press.Google Scholar
  28. Omerdić, M. (1999). Prilozi izućavanju genocida nad Bošnjacima (1992–1995). Sarajevo: El-Kalem.Google Scholar
  29. Oxford Advanced Learner’s Dictionary (7th ed.). (2007). Oxford: Oxford University Press.Google Scholar
  30. Saleem, M. Y. (2009). Towards Institutional Mutawallis for the Management of Waqf Properties. Paper Presented at the Waqf Laws and Management: Reality and Prospects, Kuala Lumpur.Google Scholar
  31. Salikić, M. (2001). Ustavi islamske zajednice [Constitutions of the Islamic Community]. Sarajevo: El-Kalem.Google Scholar
  32. Štulanović, M. (2004). Urf: običaj kao pomoćni izvor šerijatskog prava, s osvrtom na BiH. Bihać: IPA.Google Scholar
  33. Talić, Š. (1996). Stotinu trideset godina vakufske bolnice. Preporod, 14(597), 6.Google Scholar
  34. Trakić, A. (2012). A Legal and Administrative Analysis of Inalienable Muslim Endowments (Awqaf) in Bosnia and Herzegovina. Islamic Civilizational Review (ICR), 3(2), 337–354.Google Scholar
  35. Tuhmaz, A. A.-H. M. T. (1424/2003). Hanefijski fikh [Fiqh of Abu Hanifah] (A. Purdić, Z. Hasanović, & M. Mehanović, Trans., Vol. 2). Sarajevo: Haris Grabus (Translated from Arabic by Ahmed Purdić, Zuhdija Hasanović, & Muhamed Mehanović).Google Scholar
  36. Vakufska direkcija. (2010). Vakufi u Bosni i Hercegovini: historijat, trenutno stanje i perspektive. Sarajevo: Islamska zajednica u BiH – Vakufska direkcija Sarajevo.Google Scholar
  37. Vakufska direkcija. (2011, 22. juni). Naučni skup Vakufi u Bosni i Hercegovini. Sarajevo.Google Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Edib Smolo
    • 1
  1. 1.SARAYCON—Saray Consultancy for Socially Responsible and Ethical FinanceSarajevoBosnia and Herzegovina

Personalised recommendations