Tackling the critical challenge of Waqf financing, Naser Jahanian’s 300-page book, Islamic Finance of the Waqf Institution, offers modern solutions to a historical problem. Published by the Research Institute for Islamic Culture and Thought, the text analyzes the scarcity of savings resources for Waqf enterprises and proposes modern Islamic financial instruments.
In this text, the disequilibrium between entities with surplus savings and those in need of financial resources is identified as a primary impediment to the economic efficiency of Waqf. Drawing upon the principles of Islamic finance, the author emphasizes the necessity of designing a coherent system of Waqf financing capable of bridging this gap effectively.
By introducing and elucidating modern Islamic financial instruments—such as Waqf-specific Sukuk—and proposing the establishment of entities like Waqf funds, a comprehensive Waqf bank, and specialized financial and credit institutions, the present work endeavors to provide a practical mechanism for channeling financial resources toward Waqf activities.
Ultimately, this book can be regarded as an endeavor to develop the financial infrastructure of Waqf and elevate its role within the broader economic system. It is an effort that can culminate in strengthening the nexus between the financial capacities of society and the operational needs of the Waqf sector.
