Financing the development of Waqf sector in the Kingdom of Saudi Arabia

Abstract

The issues discussed in this thesis are very much relevant contemporary ones. This thesis is about the financing modes that are followed in financing the development of Waqf in the Kingdom of Saudi Arabia. It shows the old and modem modes that are usually used for financing Waqf. It also shows some of the other countries' experiences that have reasonably good experiments in this field such as Waqf fund in Kuwait Waqf shares in Sudan. In addition, it looks for the most impo11ant issues that prevent financing the development of Waqf in the KSA. Finally, this thesis reached that the cun-ent financing modes are not enough for the development of Waqf. It also finds that the major issues that prevent the development of Waqf was focusing on the long and complicated government procedures, lack of Waqf separate union and lack of codified policies & legislation for Awqaf. At the end, it concludes that the financing side is the most important element for the success of Waqf sector. So, attention must be paid to this aspect as well as other aspects and some of the recommendations given in the end for the paper issue.