Waqf-based social micro venture fund: a proposal for the Malay-muslim community in Singapore
The institution of waqf in Singapore is limited from playing a broader developmental role in society, especially with respect to the ethnic Malay community who consistently underperformed when measured against key socio-economic indicators. It maintains a largely religious orientation, as evidenced...
| Main Authors: | , |
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| Format: | Article |
| Language: | English English |
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King Abdulaziz University Scientific Publishing Center
2017
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/57335/ http://irep.iium.edu.my/57335/1/57335_Waqf-based%20social%20micro_article.pdf http://irep.iium.edu.my/57335/2/57335_Waqf-based%20social%20micro_SCOPUS.pdf |
| _version_ | 1848784912395534336 |
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| author | Mohammad Hamber, Norliana Mohamed Haneef, Mohamed Aslam |
| author_facet | Mohammad Hamber, Norliana Mohamed Haneef, Mohamed Aslam |
| author_sort | Mohammad Hamber, Norliana |
| building | IIUM Repository |
| collection | Online Access |
| description | The institution of waqf in Singapore is limited from playing a broader developmental role in society, especially with respect to the ethnic Malay community who consistently underperformed when measured against key socio-economic
indicators. It maintains a largely religious orientation, as evidenced by the launch of Wakaf Ilmu for Islamic education in 2012. As a way of reinvigorating its
developmental role to be in sync with the current needs of the Malay community in Singapore, this paper proposed the establishment of a waqf-based social micro venture
fund (WSMVF) that promotes inclusive financial development for microentrepreneurs. This would help strengthen the community’s economic status, amidst existing efforts on education, social and religious fronts. It reduces vulnerabilities of low-income families, strengthens their earning capability and promotes upward social mobility. This paper looked at charitable institutions which practice innovative and progressive forms of giving that the WSMVF could adopt. Resultantly, WSMVF is conceptualized based on the content analysis of cash waqf operations, profit and loss sharing modes and venture capital strategies. The organizational structure and operations of WSMVF bring new features into the present institution of waqf in Singapore, effectively expanding its role in the community |
| first_indexed | 2025-11-14T16:44:47Z |
| format | Article |
| id | iium-57335 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T16:44:47Z |
| publishDate | 2017 |
| publisher | King Abdulaziz University Scientific Publishing Center |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-573352020-02-17T04:31:34Z http://irep.iium.edu.my/57335/ Waqf-based social micro venture fund: a proposal for the Malay-muslim community in Singapore Mohammad Hamber, Norliana Mohamed Haneef, Mohamed Aslam H Social Sciences (General) HG Finance The institution of waqf in Singapore is limited from playing a broader developmental role in society, especially with respect to the ethnic Malay community who consistently underperformed when measured against key socio-economic indicators. It maintains a largely religious orientation, as evidenced by the launch of Wakaf Ilmu for Islamic education in 2012. As a way of reinvigorating its developmental role to be in sync with the current needs of the Malay community in Singapore, this paper proposed the establishment of a waqf-based social micro venture fund (WSMVF) that promotes inclusive financial development for microentrepreneurs. This would help strengthen the community’s economic status, amidst existing efforts on education, social and religious fronts. It reduces vulnerabilities of low-income families, strengthens their earning capability and promotes upward social mobility. This paper looked at charitable institutions which practice innovative and progressive forms of giving that the WSMVF could adopt. Resultantly, WSMVF is conceptualized based on the content analysis of cash waqf operations, profit and loss sharing modes and venture capital strategies. The organizational structure and operations of WSMVF bring new features into the present institution of waqf in Singapore, effectively expanding its role in the community King Abdulaziz University Scientific Publishing Center 2017 Article PeerReviewed application/pdf en http://irep.iium.edu.my/57335/1/57335_Waqf-based%20social%20micro_article.pdf application/pdf en http://irep.iium.edu.my/57335/2/57335_Waqf-based%20social%20micro_SCOPUS.pdf Mohammad Hamber, Norliana and Mohamed Haneef, Mohamed Aslam (2017) Waqf-based social micro venture fund: a proposal for the Malay-muslim community in Singapore. Journal of King Abdulaziz University, Islamic Economics, 30 (1). pp. 37-60. ISSN 7383-1018 E-ISSN 1658-4244 http://iei.kau.edu.sa/Files/121/Files/153872_30-01-03-Noorliana.pdf 10.4197/Islec.30-1.3 |
| spellingShingle | H Social Sciences (General) HG Finance Mohammad Hamber, Norliana Mohamed Haneef, Mohamed Aslam Waqf-based social micro venture fund: a proposal for the Malay-muslim community in Singapore |
| title | Waqf-based social micro venture fund: a proposal for the Malay-muslim community in Singapore |
| title_full | Waqf-based social micro venture fund: a proposal for the Malay-muslim community in Singapore |
| title_fullStr | Waqf-based social micro venture fund: a proposal for the Malay-muslim community in Singapore |
| title_full_unstemmed | Waqf-based social micro venture fund: a proposal for the Malay-muslim community in Singapore |
| title_short | Waqf-based social micro venture fund: a proposal for the Malay-muslim community in Singapore |
| title_sort | waqf-based social micro venture fund: a proposal for the malay-muslim community in singapore |
| topic | H Social Sciences (General) HG Finance |
| url | http://irep.iium.edu.my/57335/ http://irep.iium.edu.my/57335/ http://irep.iium.edu.my/57335/ http://irep.iium.edu.my/57335/1/57335_Waqf-based%20social%20micro_article.pdf http://irep.iium.edu.my/57335/2/57335_Waqf-based%20social%20micro_SCOPUS.pdf |