ABSTRACT
This chapter aims to explore the institution of waqf and development of awqaf in Bosnia and Herzegovina (B-H), as a southeastern European country. Awqaf in B-H has passed through significant change and erosion during the dramatic history of the country. This research is based on primary data collected from interviews with managers of waqfs in B&H. Historical data on the development of awqaf in B-H derives from the archives and available public records and publications during both Ottoman and post-Ottoman periods. Our results show that waqfs played an important role in socio-economic development in B&H during the Ottoman period. In addition, the results reveal that experts and leaders of waqfs have a great degree of perception and awareness on the significance and potential of the waqfs. However, the managing system is inefficient, with only 7% of waqfs in B-H utilized. Therefore, more promotion and education on the potential of waqfs is needed. It is necessary to develop a strategy of waqfs development for business and socio-economic purposes. Following this strategy, the motivation to establish and develop waqfs would be expected to increase amongst Islamic communities, alongside ordinary people.
