Efforts of the Organization of Islamic Cooperation in Developing Endowment (Waqf ) Economies in the Islamic World

Abstract

This study aims to highlight the key efforts of the Organization of Islamic Cooperation (OIC) in promoting, supporting, and developing waqf resources and economies in Islamic countries. In this regard, the OIC’s efforts focus on strengthening waqf financing, resources, and investments to achieve and enhance sustainable development across various social and economic sectors in member states. This is carried out through its contributions and initiatives that stimulate investment and innovation in the fields of renewable energy and sustainable agriculture, in addition to supporting infrastructure such as roads, transportation, sanitation, water projects, and more. The organization also seeks to enhance and develop education, technology, healthcare, and vocational training, along with its support for small and medium-sized enterprises (SMEs) to empower local institutions and companies, and improve the skills of youth and isolated or remote communities. These efforts reflect the OIC’s aspiration to strengthen and develop waqf economies as an integral part of Islamic economies, while contributing to sustainable development and improving the standard of living for individuals in member states and beyond.