Legal Framework of Waqf Management in Bangladesh: An Analysis of the Challenges and Prospects

Abstract

Waqf is a type of voluntary charity that is one of the foundations of the Islamic economic system. Islam not only encourages waqf organizations to construct mosques or shelters, but also approves of them in order to accomplish general advancement in terms of social, cultural, and financial appropriateness, as well as moral, spiritual, and religious superiority. Bangladesh is not exceptional in this regard that Muslim nations around the world uphold various norms for the administration of waqf property. It is often experienced by non-philanthropic and corporates that waqf in Bangladesh also deals with issues and sees opportunities through its administration and operations. Shortage of financial resources, a lack of waqf land, inefficiency, loopholes in the legal framework, unregistered waqf land, and waqf on leased land have all been factors in the growth of waqf. This research aims to highlight the problems and obstacles that occur with the waqf and prevent the advancement of waqf management and administration. The current waqf activity in Bangladesh will be given special consideration. In terms of concrete financial metrics and poverty alleviation, the study also makes an attempt to assess waqf's contemporary work in Bangladesh. However, the data collected through literature review from secondary sources indicate the Waqf institution in Bangladesh lacks appropriate management components that cause data imbalances. As a result, the findings of this study indicate that there should be serious consideration given to improving the nation's Waqf and introducing legislation that uses a combination of conventional religious doctrine and cutting-edge management techniques to better manage, unify, and organize the waqf properties in Bangladesh.