THE EFFECTS OF FOUNDATIONS IN YEMEN ON ECONOMIC GROWTH
YEMEN’DEKİ VAKIFLARIN EKONOMİK BÜYÜMEYE ETKİSİ

Author : Eshraq Abdulazız MOHAMMED ALOLOFI - Tawfik Abdo TAHER ANAAM AL-SHARABİ
Number of pages : 525-544

Abstract

Foundations contribute to economic balance, growth, and development to the solution of crises in the economy. Therefore, the main problem of the issue is how to use the Foundations and how to trust this tool of the Islamic financial system to ensure economic stability. It is also used as a complementary tool to achieve its economic and social goals after the mandatory tools in the system. However, there is a need for the foundation institution to be revived in order to support the Islamic societies to reach the required level of development, to support and develop in line with the requirements of the current era and to revive the role and to bring modern formulas. There is a need for funding resources and development resources that contribute to the stability of the Yemeni economy. Foundations have an important place in achieving these goals to alleviate the problems of society in Yemen. To increase the economic security of the country, there must be money foundation investment. The foundation experience it had in different periods for a country like Yemen created an experience that helps social solidarity. In this study, the contribution of the foundation to the economic development in Yemen between 2000 and 2014, the role played by the foundations in Yemen and their contribution to the development in the country will be examined. In this period, the foundation institution witnessed important legal and institutional developments, most notably the amendment to the Islamic foundations law. Due to the data constraint caused by the war in 2015 and the following period, these dates could not be examined in the study.

Keywords

Charitable Sector, Foundation, Foundation Revenues, Foundation Expenses, Foundation Investments, Economic Growth, Foundations in Yemen.

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