Socio-economic potential of waqf in Bosnia and Herzegovina
Waqf has always been a fundamental tool of socio-economic development throughout the history of the Islamic civilisation (IC). Waqf permeated all facets of human life catering for both mundane and spiritual needs. Wherever the Islamic civilisation was present, waqf was established. The importance of waqf throughout the IC is evident in all past and present Muslim societies. Although predating IE as an academic discipline, with its socially oriented philosophy, waqf constitutes an important precedent for economic thought in Islam.
This research engages in an analysis of the potential socio-economic role of Bosnia and Herzegovina (BIH) waqf in light of IE. Named the land of waqf, BIH is a great example of waqf utilization during the Osmanli Caliphate rule (1463-1878). During those times, it was named Bosnia. Bosnia used to be the point of fusion of the Islamic and Western civilisations. Numerous writings and oral transmissions witness the Osmanli Caliphate rule in Bosnia. This is not surprising given that Bosnia was the meeting point of the Roman Empire and Osmanli Caliphate. As the two civilisations interacted, inhabitants of Bosnia constantly struggled with the consequences of civilisational, cultural, and religious misunderstandings. Socio-economic consequences were projected onto the people of Bosnia who periodically joined the side with which they felt most safe. Records written in Bosnian often remind readers that Bosnia’s mountainous landscape had almost no place where blood was not spilled. (…)