The Economic Contributions of Awqāf in Türkiye
Year: 2024
Type: article
Abstract: Waqf holds profound significance, extending beyond its economic role, rooted in theconcept of qurbah—seeking closeness to Allah Ta’ālā. It embodies perpetual worship ('ibādah)dedicated to serving the needy and virtuous causes while maintaining a vital nexus with theeconomy as a charitable endeavor for producing added value. This study descriptively exploresthis nexus by analyzing the Turkish awqāf sector and its economic contributions. In Türkiye, theawqāf SECTOR comprises fused (mazbût), annexed (mülhak), new (yeni), community (cemaat),and state awqāf, along with corporate awqāf, waqf universities, and waqf healthcare institutions.Fused and annexed awqāf represent the Ottoman waqf tradition, while state awqāf redistribute thegovernment revenue sources by providing aid to the poor and disadvantaged. Community awqāf,apart from their hospitals, have limited contributions. New awqāf represent contemporary modelswith diverse revenue sources, making the most substantial contribution to the Turkish economy.Turkish awqāf play a significant role in providing public services, notably in higher education,industrial manufacturing (especially for defense sector), research and development, healthcare,and social assistance, primarily through corporate awqāf and waqf universities. As a result, theyfoster economic growth by expanding capital stock and investments while aiming to improveincome distribution and the welfare of the poor.
DOI: 10.4197/islec.37-2.1
Authors: Ozan Maraşlı, Monzer Kahf
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4405870636