INVESTIGATING THE ROLE OF ISLAMIC TRUSTS IN POOLING ASSETS FOR BULK FINANCING OF SPECIALISED MEDICAL FACILITIES IN NIGERIA
DOI:
https://doi.org/10.22452/Keywords:
Waqf, Islamic social finance, healthcare financing, asset pooling, NigeriaAbstract
This study examines the role of Islamic trusts (waqf) in pooling financial and material assets to facilitate bulk financing for the establishment of specialized medical facilities in Nigeria. The research adopts a qualitative case study design involving semi-structured interviews, institutional document analysis, and archival review of selected Muslim foundations and Islamic social finance institutions engaged in waqf activities. The thematic content analysis and cross-case synthesis were used in the analysis of data to identify the governance structure, donor mobilization strategies and operational models that contribute to the aggregation of resources. The findings indicate that centralized and hybrid waqf governance models are more effective in mobilizing collective resources for healthcare infrastructure. The factors that were found to lead to donor participation and continuous contribution were institutional transparency, Shariah-compliant governance, and active community involvement. However, the effectiveness of waqf-based financing is constrained by limited public awareness, regulatory ambiguities, and inconsistent governance practices. The study demonstrates that professionally managed waqf institutions can provide a sustainable and ethically compliant financing mechanism for specialized healthcare infrastructure in Nigeria. The findings contribute to the literature on Islamic social finance by extending social capital and resource mobilization theories within the context of healthcare financing and provide practical insights for policymakers, religious institutions, and healthcare planners seeking alternative funding mechanisms.
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