The potential of waqf in activating idle agricultural land

This paper attempts to analyse the possibility of collaboration of waqf in agricultural land development realizing the farmers’ financial problems in developing their land. The early Muslims made contracts among themselves as individuals without banks, self-regulated by their adherence to shariah...

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Main Authors:	Muhammad Hakimi Mohd Shafiai, Mohammed Rizki Moi, Riayati Ahmad
Format:	Article
Language:	English
Published:	Penerbit Universiti Kebangsaan Malaysia 2015
Online Access:	http://journalarticle.ukm.my/9527/ http://journalarticle.ukm.my/9527/ http://journalarticle.ukm.my/9527/1/11376-30912-1-PB.pdf

id	ukm-9527
recordtype	eprints
spelling	ukm-95272016-12-14T06:50:12Z http://journalarticle.ukm.my/9527/ The potential of waqf in activating idle agricultural land Muhammad Hakimi Mohd Shafiai, Mohammed Rizki Moi, Riayati Ahmad, This paper attempts to analyse the possibility of collaboration of waqf in agricultural land development realizing the farmers’ financial problems in developing their land. The early Muslims made contracts among themselves as individuals without banks, self-regulated by their adherence to shariah. However, it can be argued that these days the money lenders or banking institutions have established themselves as the most easily accessible source of financing. Therefore, the fruits of transaction in the real world depend very much on the religious sincerity of the bankers. Unfortunately, the bank is an institution, not an individual, and is unlikely to favour transactions involving mutual trust and risk. Accordingly, it seems that another practical way to ensure the implementation of Islamic instruments that would really help rural economies like agriculture in developing countries would be to establish Islamic trusts (waqf) specifically designed for the purpose. It is believed, eventually, that appropriate charitable institutions could be approached to create, administer and develop trust property to be utilized to cater specific needs of Islamic societies. Penerbit Universiti Kebangsaan Malaysia 2015 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/9527/1/11376-30912-1-PB.pdf Muhammad Hakimi Mohd Shafiai, and Mohammed Rizki Moi, and Riayati Ahmad, (2015) The potential of waqf in activating idle agricultural land. Jurnal Pengurusan, 44 . pp. 1-11. ISSN 0127-2713 http://ejournal.ukm.my/pengurusan/issue/view/700
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Kebangasaan Malaysia
building	UKM Institutional Repository
collection	Online Access
language	English
description	This paper attempts to analyse the possibility of collaboration of waqf in agricultural land development realizing the farmers’ financial problems in developing their land. The early Muslims made contracts among themselves as individuals without banks, self-regulated by their adherence to shariah. However, it can be argued that these days the money lenders or banking institutions have established themselves as the most easily accessible source of financing. Therefore, the fruits of transaction in the real world depend very much on the religious sincerity of the bankers. Unfortunately, the bank is an institution, not an individual, and is unlikely to favour transactions involving mutual trust and risk. Accordingly, it seems that another practical way to ensure the implementation of Islamic instruments that would really help rural economies like agriculture in developing countries would be to establish Islamic trusts (waqf) specifically designed for the purpose. It is believed, eventually, that appropriate charitable institutions could be approached to create, administer and develop trust property to be utilized to cater specific needs of Islamic societies.
format	Article
author	Muhammad Hakimi Mohd Shafiai, Mohammed Rizki Moi, Riayati Ahmad,
spellingShingle	Muhammad Hakimi Mohd Shafiai, Mohammed Rizki Moi, Riayati Ahmad, The potential of waqf in activating idle agricultural land
author_facet	Muhammad Hakimi Mohd Shafiai, Mohammed Rizki Moi, Riayati Ahmad,
author_sort	Muhammad Hakimi Mohd Shafiai,
title	The potential of waqf in activating idle agricultural land
title_short	The potential of waqf in activating idle agricultural land
title_full	The potential of waqf in activating idle agricultural land
title_fullStr	The potential of waqf in activating idle agricultural land
title_full_unstemmed	The potential of waqf in activating idle agricultural land
title_sort	potential of waqf in activating idle agricultural land
publisher	Penerbit Universiti Kebangsaan Malaysia
publishDate	2015
url	http://journalarticle.ukm.my/9527/ http://journalarticle.ukm.my/9527/ http://journalarticle.ukm.my/9527/1/11376-30912-1-PB.pdf
first_indexed	2023-09-18T19:55:07Z
last_indexed	2023-09-18T19:55:07Z
_version_	1777406477614448640

The potential of waqf in activating idle agricultural land

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