UniSZA's staff cash Waqf: The impact to social and economic development of Terengganu State

• Main Authors: Yusuff Jelili, Amuda, Noor ‘Ashikin, Hamid, Murshamshul Kamariah, Musa, Abdul Majid Tahir, Mohamed
• Format: Conference or Workshop Item
• Language: English
• Published: 2017
• Subjects: HB Economic Theory; HV Social pathology. Social and public welfare
• Online Access: http://eprints.unisza.edu.my/1349/1/FH03-FUHA-17-11917.jpg; http://eprints.unisza.edu.my/1349/
• Institution: Universiti Sultan Zainal Abidin

Cash waqf is a viable form of Islamic endowment with the primary objective of providing relief to less privileged Muslims in society. Waqf has inherent potential to ensure redistributive justice in society given its numerous benefits as an instrument for human development. UniSZA as an education institution should explore the feasibility of waqf in its daily operations and consider adopting a cash waqf scheme. The research is based on the hypothesis that UniSZA’s staff cash waqf can have a positive social and economic impact in Terengganu. The objective of this study is to examine how UniSZA’s staff cash waqf can be utilised to develop Terengganu economically and socially for the interest of less privileged Muslims. The study applies the mixed methods of discussion and analysis. Human development in this study includes the creation of employment, micro-financing, transactions, farming, soft loans and other lawful lucrative businesses and investments. The paper concludes by offering suggestions to best utilise this cash waqf fund.