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Empowering The Peripheral Ummah Through Waqf

Mohd Adib Ismail, Nik Mohd Azim Nik Ab Malik & Muhammad Hakimi Mohd Shafiai (Universiti Kebangsaan Malaysia)

Abstract

The peripheral Ummah is the community that is excluded socially and economically from the market system. The inaccessibility to the market makes them poor which later creates the vicious and spiral problem of poverty. This study aims to purpose a mechanism using waqf to eradicate the causes of the problem and let them be accessible to the market. Taking into consideration of altruist behavior of other mainstream communities and good coordination between government and non- government organizations, waqf mechanism is proposed as source of fund to finance the actions to include the peripheral Ummah into the mainstream community. The mechanism focuses on wealth creation activities. The waqf mechanism is effective as its characteristics are irrevocability, perpetuity and inalienability. Therefore, partial influence from the government or the community regarding the management of the waqf fund can be avoided.

Keywords : Peripheral ummah, social exclusion,waqf

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JMIFR Vol 12 No.1 2015 - Part 3

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The Journal of Muamalat and Islamic Finance Research (JFIMR) , Universiti Sains Islam Malaysia (USIM), Bandar Baru Nilai, 71800 Nilai. Negeri Sembilan. Malaysia. Telephone: +606-798 6401  Fax: +606-798 6302  Email: This email address is being protected from spambots. You need JavaScript enabled to view it.   2013 © Fakulti Ekonomi & Muamalat (FEM), USIM