Financing social enterprises through cash waqf: an innovation of business model.

Mohd. Zain, Nor Razinah and Nur Fauziah, Najim and Zakariyah, Habeebullah and Mohd Noor, Azman (2021) Financing social enterprises through cash waqf: an innovation of business model. In: Handbook of research on Islamic social finance and economic recovery after a global health crisis. IGI Publisher, USA, pp. 214-227. ISBN 9781799868118

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Abstract

This research explores potentials of cash Waqf in generating capital revenue in carrying out social-based investment through social enterprises. Looking closely into two different concepts i.e. social enterprises and Waqf, this research appreciates the understanding on the modern business model of social enterprise and the innovative version of religious social finance i.e. cash Waqf. Depending on qualitative methodology and analytical review, the discussion of this research is developed. These approaches are considered suitable and pragmatic for the suggested business model of social enterprise. Here, an innovative business model with a combination of social enterprise operation and cash Waqf is introduced. It has the potential to stimulate further research to innovate religious social finance instruments to current and modern business models. This research proposes a business model of social enterprise that combines cash Waqf in its operation for sake of generating capital revenue. Simultaneously, such business model has potentials to expand the cash Waqf in meeting social objectives of the social enterprise. As research findings, it is found that even though Waqf is derived from a religious traditional philanthropic instrument, its innovative version of cash Waqf can be utilised in generating capital revenue for social enterprises. As long as the required principles of cash Waqf as provided under Islamic law is fulfilled, a combination of cash Waqf in the operation of social enterprise can be carried out.

Item Type:	Book Chapter
Additional Information:	8634/89152
Uncontrolled Keywords:	Social enterprise, Cash Waqf, Waqf, and Islamic Law
Subjects:	BPH Islamic Economics BPH Islamic Economics > BPH741 Waqf H Social Sciences > HJ Public Finance > HJ1438 Public Finance In Islam K Law > K Law (General)
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF)
Depositing User:	Asst. Prof Nor Razinah Mohd. Zain
Date Deposited:	23 Apr 2021 11:20
Last Modified:	23 Apr 2021 11:20
URI:	http://irep.iium.edu.my/id/eprint/89152

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