Waqf (Endowment) As Means Of Promoting Socio-Economic Development In Muslim Society: A Reflection On Bauchi State

Abstract

Looking at the social and economic challenges Muslim individuals and communities are facing, it is necessary to have in place a solid mechanism that will not only help those individuals and communities but will enhance the development of the entire Muslim world. In the social area, poverty is outstanding among others. Hence, this paper discusses the concept of waqf as a means of solving socio-economic issues and challenges confronting the Muslim communities in Nigeria, Bauchi State in particular. The value and importance of waqf endowment cannot be over emphasized. Historically, waqf contributed to social and economic development of Muslims societies and it is also considered as a mechanism in poverty alleviation in society especially through cash waqf. This thesis aims at exploring the effective ways of utilizing waqf in order promote socio-economic development in Bauchi state and as well recommend the institution of waqf as a prominent mechanism for poverty alleviation and provision of social welfare services to the Muslim Ummah in Bauchi state. This is because waqf is generally regarded to be one of the most effective ways of expressing philanthropy for sustaining the welfare of the needy, the poor, the family, and the society. Through this philanthropic institution, wealth is transferred from private ownership to public utility. Personal assets of useful value can be endowed in waqf for the all-round services of the society; religious, social, economic, and educational sectors, under certain conditions and regulations laid down by the Shari’ah. Waqf is an alternative source of solving socio-economic problem of Muslim society, as it covers issues such as inequality, poverty and rising cost of living as well as promoting the social wellbeing in the society. In Bauchi state of Nigeria, the problem of poverty and how to reduce it remains the most pressing dilemma. This thesis also aims at appraising how waqf institution will be properly practiced and function properly to alleviate poverty in the state. The researcher therefore employs a desk-based research and studies primary and secondary sources relevant to the topic of discussion. The finding of the study indicates that the waqf programme in Bauchi state Shari’ah consultative forum has significantly realised the need for social support programmes, poverty alleviation and employment generation in Bauchi state. The research recommends that the Bauchi state government should provide a comprehensive framework of waqf as a means of providing social supports and alleviating poverty.