Announcement

Organiser

ISLAMIC FINANCE AND WEALTH MANAGEMENT INSTITUTE (IFMWI) USIM

IN COLLABORATION WITH

CENTRE FOR AWQAF AND ZAKAT / PUSAT WAKAF DAN ZAKAT (PWZ), USIM

CENTER FOR ISLAMIC PHILANTROPHY & SOCIAL FINANCE (CIPSF), UiTM MELAKA

ISLAMIC RELIGIOUS STATE COUNCIL OF NEGERI SEMBILAN, MALAYSIA/ MAJLIS AGAMA ISLAM NEGERI SEMBILAN / (MAINS)

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CALL FOR PAPERS

BACKGROUND

The development of awqaf projects has become an agenda to enhance the economy of ummah and to boost up the importance of the third sector of economy.  The interest on the subject of waqf is on the rise at the global and national level especially among stakeholders in the Islamic world. His Royal Excellency YM Raja Dr. Nazrin Shah had made this observation in his keynote address delivered at the 5th Securities Commission-Oxford Centre for Islamic Studies Roundtable on Islamic Finance in Kuala Lumpur on 23 March 2014 (New Sunday Times, March 23 2014).  According to YM Raja Dr. Nazrin, several factors have contributed to the success factor of a awqaf institutions which include capital adequacy, governance, legislation, professional, and ethics.  Nevertheless, there is still lack of clear traditional waqf definition and negative perception from the public towards transparency and disclosure as well as improper ways of distributing the waqf efficiently and effectively.

The waqf institution has great potential among other things to provide educational opportunities, support for research activities, employment creation, reducing government responsibilities with respect to operating expenditure and to reduce dependence on government funding.

Many previous studies have recorded success of awqaf institutions that have been managed well for example on education and delivery of socio-economic services to communities. Waqf has also played an important role in the development of the economy of the Muslim ummah. Contributing cash waqf should be encouraged as common activities in the sense that this contribution can strengthen the faith and Taqwa of the Muslim community.

Cash waqf can be utilized to set up caring society and equally attained development goal. Generally, waqf plays an important role in socio-economic of Muslim societies. Waqf give great potential as Islamic system of awqaf contributes immensely into the social welfare of the Muslim community. Thus, the theme of “the sustainability of waqf and Islamic Social Finance in enhancing the development of global ummah” is relevant to the current need and practices.  

The first and second Muktamar Waqf Iqlimi was held in Universiti Sains Islam Malaysia. The third Muktamar was held in Ban Nau Mosque, Songkla Thailand on 13 – 14 October 2016. The third seminar was officiated by His Excellency of Sheikh Aziz Phitakkumpon, Sheikhul Islam of Thailand. Several papers were presented regarding the topic of Waqf, zakat and Islamic philanthrophy.

In conjunction with the continuous support and improvement, awqaf institutions require dynamic and innovation approach that supports the development of waqf institutions from various parties collectively and consistently. This is vital to ensure continuity and sustainability among society and countries. Waqf institutions in Muslim minority countries also need support from Islamic countries to enhance better understanding, sustainable and harmony.

Thus, this fourth Muktamar was propose to be held in USIM to enhance the collaboration with the sole trustee and authority body with regards to boost the awareness of the important of the third sector of economy through Islamic Social Finance.

MUKTAMAR WAQF IQLIMI IV 2017 provides a platform for open dialogues and discussions among policymakers, academics, researchers, practitioners and postgraduate students, to address current and pertinent issues, prospects, challenges and opportunities related to best practices on “the sustainability of waqf and Islamic Social Finance in enhancing the development of global ummah” in the ASEAN region in particular and the World at large.

OBJECTIVES OF THE SEMINAR

• To tighten up the collaboration with Islamic Religious State Council  as the sole trustee of waqf, ASEAN community and countries
• To gather the expertise of various institutions to improve the quality and quantity of research and innovation in the field of waqf and Ijtima’i application to promote philanthropy.
• To promote and improve waqf and Ijtima’i practices / philanthropic activities in the ASEAN region.
• To enhance sustainability of waqf and Islamic Social Finance for the development of global ummah through the formulation of informed policies for waqaf projects in the ASEAN region.

KEYNOTE SPEAKER

"Waqf : Financial Instrument Vis-a-Viz Religious Instrument”

By Y.Bhg. Datuk Dr. Mohd Daud Bakar.

Y.Bhg. Datuk Dr. Mohd Daud Bakar is the third holder of Professorial Chair in Islamic Banking and Finance, Yayasan Tun Ismail Mohamed Ali Berdaftar (YTI) PNB at Faculty of Economics and Muamalat, USIM. He is the Founder and Executive Chairman of Amanie Group that deals with real economic activities by delivering modern and ethical solutions to face challenges in the global Islamic finance industry. In addition, he is appointed as Chairman or Board Member with his specialist as Shariah Advisor to several Banks and financial institutions in more than 9 countries spanning the globe such as Malaysia, Singapore, UAE, Bahrain, France, UK, USA, Egypt and Saudi Arabia. Datuk Dr Mohd Daud Bakar was awarded “The Asset Triple A Industry Leadership Award” at The Asset Triple A Islamic Finance Award by The Asset magazine and the “Tokoh Perdana – Maulidur Rasul”, by His Majesty, the King of Malaysia in 2014. In 2015, Datuk has been received the “Shariah Scholar of the Year-2015” award by London Sukuk Summit. His 'Shariah Mind' of implementing Sukuk Musyarakah to Majlis Ugama Islam Singapore in order to develop waqf land, considered as his Magnum Opus in waqf industry in the year 2006.

SUB-THEMES

1)    Waqf and Economic Development

• Administration and Management of Waqf institution
• Waqf Fund management
• Waqf Fund for Islamic Higher Institution
• Waqf Financing for development project
• The roles of Waqf in Islamic institutions
• Waqf governance - al-Azhar’s model
• The best practices of waqf instrument in ASEAN region and the world

2)    Sustainability of waqf and Islamic Social Finance

• Governance sustainability
• Financial sustainability
• Development sustainability
• Institution sustainability
• Poverty eradication
• Innovation approach of sustainability

3)    Baitulmal and economic development

• Roles of Baitulmal in the globalization era
• Administration and Management of Baitulmal
• Roles of Zakat, Sadaqah, Hibah and Infaq in Baitulmal
• Best practice of Baitulmal in ASEAN region
• Execution of Baitulmal in theory and practice
• Issues, Challenges and the way Forward

4)    Comparative Research on Waqf in the ASEAN region such as from:

• Experience of the Philippines
• Experience of Malaysia
• Experience of Singapore
• Experience of Indonesia
• Experience of Thailand
• Experience of Brunei
• Experience of Cambodia and others.

5) Management and Role of Instruments of Philanthropy in Islam

• Waqf
• Zakat
• Sadaqah
• Hibah
• Infaq

6)    Fiqh of Waqf – Comparative Schools of Thought

• Issues and challenges in Fiqh of Waqf: positions of the four major Mazhabs.

7) and any other relevant areas of interest on Waqf and Ijtima’i applications.

FORMAT AND PRESENTATION PROPOSAL

Those intending to present papers at IQLIMI 2017 must submit an abstract and a full paper to the secretariat on or before the 15 July  2017.

The abstract should not exceed more than 300 words, typed in font size 10, Times New Roman, single spaced and justified. Article can written in English, Malay or Arabic. An Abstract should contain: purpose of the study, method and findings. Please include not more than 5 keywords with the abstract.

References to other publications must be in American Psychology Association (APA) referencing style and references should be carefully checked for completeness, accuracy and consistency. Papers should follow the APA Format of Paper Writing.

PUBLICATION OPPORTUNITY

All articles will be peer-reviewed and evaluated by an expert. Thus, all articles will be published in CD Proceeding with ISBN after been accepted by the reviewers. Selected paper that shows rigorous research and empirical based would be considered to be published in The Journal of Muamalat and Islamic Finance Research (JMIFR). Another selected / accepted papers will be reviewed and to be published as a chapter in book publication.

REGISTRATION AND SUBMISSION

Participant/Presenter Registration

• If you have not registered with Confbay before, click on Register. Follow the instructions listed on the screen.
• If you have registered with Confbay before, click on Log In.

Online Paper Submission

• After logging in, you will be able to submit your paper through the Online Submission System.
• Click on the “My Submission” menu. Follow the instructions listed.
• Notification emails will be sent to you as a confirmation of the submission.

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