How Islamic laws destroyed the Golden Age of Islam!

The Middle East was far ahead of other regions such as China, India, and Europe during the 10th century, a period often referred to as the Golden Age of Islam. Historian Timur Kuran asks why the Industrial Revolution did not first take place in the Middle East instead of Europe. In this video we explore how the institution of Waqf, an Islamic charitable endowment, played a crucial role in the economic decline of the region. Starting as a solution to protect wealth and fund public services, Waqfs eventually became a bottleneck to economic and social progress. Join us as we delve into the historical development and impact of these institutions, how they shaped Middle Eastern economies, and why they failed to adapt to modern needs. 00:00 10th century & Islamic Golden Age 01:41 What exactly is a Waqf ? 02:18 Caliph Umar and Prophet Mohammed Hadith 03:20 Waqf & Islamic Inheritance Laws 04:20 Waqf from a ruler's perspective 05:05 Immense scale of Waqfs : Hurrem Sultan 05:48 Did Waqfs promote Islam? 06:46 Cons of Waqfs 08:48 How Egypt, Turkey & other countries dealt with the problem? 09:57 Ottoman advisor Toci Bey on Waqfs 11:12 Lessons from History