Potential of Creating Cash Waqf for Public in Multi-religious Society or Country
Keywords:waqaf, multi-religious, endowment
This paper is to share a concept on how the cash Waqf instrument can be expanded to help in managing social responsibilities, such as welfare and infrastructure development in a multiethnic and multi-religion society or country; and for this paper Malaysia is taken as the case study. The idea of having a mechanism of Waqf to cater the public as a whole is brought up as the awareness of government burden and normal incapability to cater every inch of aspects of society needs due to economic and bureaucracy factors as well as responsibilities of the society itself towards the society (or in other words: from society for society responsibilities). The main reason of having to come up with this cash Waqf concept is when looking at a multi background population country like Malaysia, where Waqf only attracts Muslim community while funds mostly attracts non-Muslim with less Muslim. Moreover the practice of Waqf in Malaysia limited for certain projects and funds usually limited for certain causes. Whereby, we see the Waqf as an answer or solution that can unify all: a mechanism which can be expanded into a more public beneficial instrument. Though there are different types or practices of Waqf depending on its objective, here for this public interest objective, we will concentrate on cash Waqf for public usufructal philanthropic means; with Wakalah-based operations. The idea is to create a special body to collect any intended endowment from all various background of population which will later be utilized to develop beneficial programs or projects in critical areas for the society. Furthermore, the contributors can actually see their contributions being converted into beneficial and tangible forms. This can be considered as their asset for their hereafter life for the believers and as satisfaction for those who like to help others. By having such mechanism, the we hope that the idea can be attractive to all level of society and get supports for the brighter future of the nation.
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