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Sheila Nu Nu Htay
IIUM Institute of Islamic Banking and Finance Malaysia
Economics, Econometrics & Finance

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Introducing Waqf Based Takaful Model in India Syed Ahmed Salman; Sheila Nu Nu Htay
Tazkia Islamic Finance and Business Review Vol. 7 No. 2 (2012)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v7i2.15

Abstract

Objective – Waqf is a unique feature of the socioeconomic system of Islam in a multi- religious and developing country like India. India is a rich country with waqf assets. The history of waqf in India can be traced back to 800 years ago. Most of the researchers, suggest how waqf can be used a tool to mitigate the poverty of Muslims. India has the third highest Muslim population after Indonesia and Pakistan. However, the majority of Muslims belong to the low income group and they are in need of help. It is believed that waqf can be utilized for the betterment of Indian Muslim community. Among the available uses of waqf assets, the main objective of this paper is to introduce waqf based takaful model in India. In addition, how this proposed model can be adopted in India is highlighted.Methods – Library research is applied since this paper relies on secondary data by thoroughlyreviewing the most relevant literature.Result – India as a rich country with waqf assets should fully utilize the resources to help the Muslims through takaful.Conclusion – In this study, we have proposed waqf based takaful model with the combination of the concepts mudarabah and wakalah for India. We recommend this model based on the background of the  country and situations. Since we have not tested the viability of this model in India, future research should be continued on this testing.Keywords : Wakaf, Takaful, Kemiskinan dan India
Integrating Zakat, Waqf and Sadaqah: Myint Myat Phu Zin Clinic Model in Myanmar Sheila Nu Nu Htay; Syed Ahmed Salman; Soe Myint @ Haji Ilyas
Tazkia Islamic Finance and Business Review Vol. 8 No. 2 (2013)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v8i2.68

Abstract

Objective –The main objective of this paper is to present a Myint Myat Phu Zin Clinic Model that integrates three traditional Islamic tools such as waqf, zakat and sadaqah. It is the first clinic in Myanmar which is established based on the combination of these three concepts for Muslims and non-Muslims. Methods – Case study method and interview technique are used to collect the data and to evaluate the operating clinic model and its management.Result–The findings explain how this clinic model is operating from the funding of waqf, zakat and sadaqah and illustrate the operating model from the sources of fund until how they are utilized for the beneficiaries. The clinic is depending on four sources of income, which are the contribution from Muslims and non-Muslims. The types of income received from Muslims are zakat and sadaqah. The income received from non-Muslims is only the charity.Conclusion –It can be concluded that this clinic model can be used as a model in any other non-Muslim countries with minority Muslim population. The clinic is drastically helping patients although the expenditures become higher. Therefore, researchers suggest introducing cash waqf to make sure the clinic is economically stronger.Keywords: Waqf, Zakat, Sadaqah, Health and Clinic
Co-Authors Soe Myint @ Haji Ilyas Syed Ahmed Salman