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    A Concept For Funding Universal Basic Income Through A “National Waqf” Scheme

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    Author
    Raheem, Mohamed Mahees cc
    Subject
    Islamic Finance
    Universal Basic Income
    Waqf
    Sustainable Development
    Date
    2021-05-24
    
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    Abstract
    Modern governments are constantly seeking innovative ways of funding welfare programs for the wellbeing of their citizens. These methods may range from traditional welfare schemes to radical initiatives. One of the ideas that is gaining traction to this measure is universal basic income (UBI), which basically refers to a monthly payment that is given to all citizens, regardless of their income levels, economic and employment status. However, the main difficulty in the implementation of UBI is its funding. At the same time, the traditional Islamic concept of waqf (Islamic endowment) is also a sector that is underutilized, with a great potential to provide welfare for citizens. This paper seeks to provide a solution to both the funding of UBI and revitalization of the waqf sector.
    Department
    Finance
    Journal title
    PalArch's Journal of Archaeology of Egypt/Egyptology
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