The Role of Waqf in Developing the Local Economy in the Kingdom of Thailand (The Three Southern Provinces as an Example)

Abstract

This research aims to achieve the following objectives: to explain the economic role of Waqf and its impact on community development, focusing on the three southern provinces of Thailand; to assess the extent of the Thai community's Waqf contributions to the economic field; and to shed light on the relationship between Waqf and the economy. Focusing on the timeframe from 1997 to the present, this study combines a descriptive-analytical approach with field studies of charitable endowment institutions within the geographical scope, alongside interviews with prominent figures in the field. The findings reveal that endowment institutions in Thailand, despite facing various challenges, play a vital role in local community development, particularly in the economic sector. To address these challenges, the researcher recommends reconsidering endowment management methods and directing a portion of the funds toward investment to ensure growth and better serve their intended purposes.