Empowerment of Waqf Institutional Strategies to Reduce the Economic Burden of the Community Due to Covid-19; [Pemerkasaan Strategi Institusi Wakaf dalam Mengurangkan Bebanan Ekonomi Masyarakat Akibat Covid-19]

• Published in: Global Journal Al-Thaqafah
• Main Author: Hamid C.K.; Yahaya S.; Hassan S.H.M.; Abdullah S.R.; Zainan N.I.N.
• Format: Article
• Language: English
• Published: Universiti Sultan Azlan Shah 2024
• Online Access: https://www.scopus.com/inward/record.uri?eid=2-s2.0-85203551002&doi=10.7187%2fGJATSI072024-13&partnerID=40&md5=c01d8230e9fd3dceaa82aa2538b8f102

The transmission of the Covid-19 epidemic since late 2019 has caused widespread confusion due to its rapid infection rate and alarming death toll. This situation has led to significant changes in the lives of many, resulting in numerous individuals losing their sources of income due to layoffs and being unable to sustain their usual economic activities. The economic system has also been challenged, leading to a decline in various industrial sectors. Additionally, the rate of social problems has increased due to the emotional stress caused by financial difficulties. Given this complex situation, it is crucial to address these issues effectively and holistically through an Islamic economic system, particularly focusing on the waqf mechanism as a key tool to stabilize the economy during periods of financial uncertainty caused by pandemics. This study aims to examine the success of both historical and contemporary waqf institutions in addressing economic challenges. Furthermore, it investigates the strategies employed by waqf institutions to mitigate the economic burdens on society due to Covid-19 in Malaysia. The methodology of this study employs qualitative methods, with secondary data collection serving as the primary reference material. The data is then analyzed using content analysis. The results clearly indicate that the successes of past and present waqf institutions should serve as models to enhance the management of waqf in Malaysia. Additionally, the strategies of waqf institutions help alleviate the economic burdens imposed by Covid-19. © (2023), (Universiti Sultan Azlan Shah). All Rights Reserved.