FINANCIAL PROBLEMS OF BOTTOM 40 PERCENT BUMIPUTERA IN MALAYSIA: A POSSIBLE SOLUTION THROUGH WAQF-BASED CROWDFUNDING

Abstract

Low savings by the bottom 40 percent Bumiputera triggered low wealth accumulation and greater wealth inequality. The issue behind the low savings is the increase in food prices, taxes, and interest rates for the borrowers. In response to these problems, the Malaysian government provides cash transfer BRIM as one of redistributive measures. However, it is still not enough as many of the bottom 40 percent are neglected to avail the facility. In such circumstances, the role of community-based cash and credit transfer schemes such as cash waqf can be more fruitful. However due to inefficiency of the awqaf institutions regarding financial management, the system cannot contribute effectively. Therefore, the main aim of the paper is to provide an efficient mechanism which can ensure effectiveness in terms of transparency, collection and distribution of cash endowments and its benefits. Hence, by means of library research, we have proposed a conceptual framework. It is suggested that collection and distribution of cash waqf through crowdfunding platform would solve both transparency, collection and distribution issues. This study would provide a ground for those researchers and practitioners who are working on finding the right approach to implement waqf in more efficient way.

Keywords

• Wealth Inequality,Cash transfers,Waqf,Crowdfunding,Poverty

MALEZYA BUMİPUTERA’DAKİ YÜZDE 40’LIK ALT GELİR GRUBUNUN MALİ PROBLEMLERİ: VAKIF TEMELLİ FON TOPLAMA VASITASIYLA BİR ÇÖZÜM

Öz

Bumiputera’daki alt gelir grubunun yüzde 40’lık kısımının tasarruflarının azlığı daha az servet temerküzünü ve daha fazla servet eşitsizliğini tetiklemiştir. Tasarrufların azlığının ardındaki sebep ödünç alan kesimlerin maruz kaldığı yüksek gıda fiyatları, yüksek vergiler ve yüksek faiz oranlarıdır. Bu problemlere karşı Malezya hükümeti yeniden dağılım ölçütlerinden biri olarak BRIM nakit taransferini uygulamaya koymaktadır. Fakat, bu yeterli değildir çünkü yüzde 40’lık alt gelir grubundanki pek çok kişi programdan yararlanamamaktadır. Bu durumlarda, para vakıfları gibi toplum tabanlı para ve kredi transfer planları daha yararlı olabilir. Fakat, vakıf kurumlarının finansal yönetimdeki etkinsizlikleri sebebiyle sistem etkili bir şekilde katkı yapamamaktadır. Bu yüzden, bu makalenin esas amacı saydamlığı, parasal kaynakların toplanması ve dağıtılmasındaki etkinliği temin edecek etkili bir makanizmayı ortaya koymaktır. Dolayısıyla, hacimli bir kütüphane araştırması neticesinde kavramsal ve çerçeve öneriyoruz. Kitlelerden fon toplama platformu vasıtasıyla para vakfı toplama ve dağıtımı, hem saydamlık hemde toplama ve dağıtım problemlerini çözeceği öne sürülmektedir. Bu çalışma, vakfı daha etkili kılmak için doğru bir yaklaşım arayan araştırmacı ve uygulayıcılara uygun bir temel sağlamaktadır.

Anahtar Kelimeler

• Servet eşitsizliği,nakit transferi,vakıf,kitlelerden fon toplama,fakirlik

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