To read the full version of this content please select one of the options below:

The global cash waqf: a tool against poverty in Muslim countries

Buerhan Saiti (Department of Islamic Economics and Finance, Istanbul Sabahattin Zaim Universitesi, Istanbul, Turkey)
Adama Dembele (Istanbul Sabahattin Zaim Universitesi, Istanbul, Turkey)
Mehmet Bulut (Istanbul Sabahattin Zaim Universitesi, Istanbul, Turkey)

Qualitative Research in Financial Markets

ISSN: 1755-4179

Article publication date: 8 February 2021

Issue publication date: 22 June 2021

Abstract

Purpose

The problem of poverty in the Muslim world has been posing multi-faceted challenges to the life of individuals and the relations of people. Although this problem has been gaining scholarly attention and raised in relation to various issues ranging from social injustice, rampant corruption, societal instability, wide social polarization and insurgent movements that affect the regional peace and stability at large, neither effective economic mechanism proposed nor implemented to address the problem effectively. In this regard, it is also important to appreciate the recent initiations in the field of Islamic economics to present an optional view to the existing and alien economic models in the Muslim world. Therefore, the purpose of this study is to fill up this research gap by proposing a model of mobilizing funds through the global cash-waqf institution.

Design/methodology/approach

The study adopts content analysis to construct this global cash waqf model for poverty alleviation in Muslim countries.

Findings

The “global cash-waqf model” was proposed as an alternative that could be implemented and used to overcome the poverty matter in Muslim countries. It is assumed that the model will facilitate the fund mobilization among Muslim countries, which in return is going to assure full distribution and redistribution of wealth to eradicate the poverty in the Muslim world. The model was structured with a global vision in both the collection side and the distribution side.

Originality/value

The model will facilitate the fund’s mobilization among Muslim countries, which in return achieves an Islamic goal of distribution and redistribution of wealth to assure the well-being of all humanities in the society.

Keywords

Acknowledgements

The authors acknowledge that this study was funded by the Istanbul Sabahattin Zaim. University (IZU) through BAP Project, BAP Research Project ID: BAP-1000–18.

The authors are deeply grateful to Professor Bruce M. Burton (the editor) and the anonymous reviewers for their helpful comments, which have greatly improved the quality of the paper. The authors acknowledge and assume responsibility for any other mistakes or errors within the manuscript.

Citation

Saiti, B., Dembele, A. and Bulut, M. (2021), "The global cash waqf: a tool against poverty in Muslim countries", Qualitative Research in Financial Markets, Vol. 13 No. 3, pp. 277-294. https://doi.org/10.1108/QRFM-05-2020-0085

Publisher

:

Emerald Publishing Limited

Copyright © 2021, Emerald Publishing Limited