التفاصيل البيبلوغرافية
| العنوان: |
Waqf Based Endowment promoting the Maslahah - Integration of the Theory of Well-Being and Māqaṣid al-Shanī'ah. |
| المؤلفون: |
Hasan, Rashedul, Obid, Siti Normala Sheikh |
| المصدر: |
Islamic Quarterly; 2018 1st Quarter, Vol. 62 Issue 1, p27-42, 16p |
| مصطلحات موضوعية: |
WAQF, ISTISLAH (Islamic law), WELL-being, CHARITIES, GROSS domestic product, ECONOMIC development |
| مستخلص: |
Poverty alleviation initiatives by conventional mechanisms often keep the contribution of Islamic mechanisms in the shadows. This study will shed light on the ability of an Islamic Charitable Institution in contributing toward the economic growth in Malaysia through an endowment mechanism grounded on Waqf philosophy. Theory of Well-Being is incorporated with the Maslahah (Maslahah) principle of Maqāṣid al- Shanī'ah (MaqāsSid al-Shanī'ah) to elaborate the importance of Islamic Charitable Institutions (ICIs) in a South Asian country. This study first focuses on determining the long-run and short-run equilibrium relationships between donation and economic development using Unit Root model. Then, the causality between donation and economic indicators are measured using OLS regression and Granger causality test. Data for annual donation is collected from the financial reports of Lembaga Amanah Kolej Islam Malaya (LAKIM) for the year 2000 to 2013 while economic development is measured through GDP data provided by World Bank. Donations distributed by LAKIM for the enhancement of higher education in Malaysia are found to have a significantly long and short-run effect on economic growth. While OLS regression has proved the significant positive impact of donation on GDP, Granger causality test proved that GDP Granger causes donations. Management of LAKIM will be able to understand their role in the economic development of Malaysia which might influence them to become more involved through various innovative schemes to benefit the Maslahah. The study has included a time series that is limited to only fourteen years, and thus the volatility of donations could not be measured through ARCH family models. This study is the first to explore the ability of LAKIM in contributing to the Maslahah through economic development of a developing country using econometric models that are backed by the Theory of Well-Being and MaqāsSid al-Shanī'ah. [ABSTRACT FROM AUTHOR] |
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| قاعدة البيانات: |
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