An Endowment (Al-waqf) Concept for the Supply of Medical Care: an Exploratory Study of the Sustainability of Health Insurance at Higher Institutions

Abstract

Important here is the term endowment, meaning the devotion of assets or properties, either directly or indirectly, to any charitable or religious institution or cause, or to secure advantage or benefit for a person or persons. The purpose of this study is to explore and represent the importance and utility of an endowment form of sustenance for the infrastructures and/or amenities necessary for beneficiaries at higher institutions. However, the specific aims and objectives of this study are to ensure the availability and sustainability of standardized health services at Khazar University by the application and implementation of a policy of endowment. Khazar University is undoubtedly among the world’s fastest growing young universities. Obviously, the university strives endlessly to provide services of global standard to meet the challenges involved in competing with older, wellestablished universities around the world. The study is exploratory in nature and applies a phenomenological approach in presenting the concept of endowment and how it is practised at many world class universities to provide and sustain the necessary facilities at their various institutions of higher education. Following exploration, this study proposes that stakeholders of Khazar University use endowment to upgrade the university’s health and medical services to an advanced level. The study highlights the practical experience of endowment-based universities in different part of the world, including: Al-Azhar University in Egypt; the University of Cordova in Spain; IIU- the Islamic University of Indonesia; universities founded in Turkey; the King AbdulAziz University, and many universities in Malaysia, of which the present study focuses on the International Islamic University, Malaysia.