The build, operate and transfer (bot) contract has widely been applied in developing economies since the participation of private sectors has declined in the reconstruction and funding of public infrastructure. bot is a financing and operating approach, which has been practiced primarily in the area of infrastructure privatization in developing countries. Recently, application of the bot scheme has been carried out in many waqf institutions, especially Majlis Agama Islam Wilayah Persekutuan. The bot approach offers new perspectives in the field of waqf as it has the capability to enhance waqf property for the public’s benefit. Property enhancement is the major reason why waqf is enjoined by Islam. Waqf institutional involvement in developing its property and public infrastructures by way of bot contracts is proving to be a challenging exercise. This article examines the current practice of applying bot contracts in waqf institutions in general and in Majlis Agama Islam Wilayah Persekutuan in particular, with specific reference to the application of other types of contracts. In addition, the practice is discussed in terms of its compliance with the principles of Sharīʿah law. Moreover, this article aims to identify the issues, problems as well as challenges that might face waqf institutions during implementation of bot contracts.

This paper aims at assessing the motivational factors that influence the customer's preferences of takaful over conventional insurance. The customers' information about the takaful products and services based on sharia are identified in order to enable them differentiate takaful and conventional insurance. The research uses mixed method of data collection. This comprises of questionnaires and in-depth interviews with the respondents from four selected takaful industries in Saudi Arabia. The questionnaires were analysed using simple percentages and for the interviews, thematic analyses were used. Based on the findings of the study, the customer's preferences on the selection of takaful over conventional insurance include protection of takaful product by sharia, support from the government. Similarly, the absence of risk incurred or transferred to participants, funds contributed in the spirit of brotherhood for all members. Moreover, another customer's preferences is that contributions (tabarru') are invested in non-interest based capitalization by the takaful agents and profits are shared according to individual contributions. Based on takaful, donations are established at the pooling system in line with sharia and they are formed on the bases of sympathy, consciousness of the idea of tabarru' as well as abstaining from gharar, maysir and riba.

The study aimed to clarify the importance of accounting disclosure on the behavior of Cash Waqf (endowments) contributors through the theoretical approach and literature review. In addition, the study tests whether obligatory annual financial statements may facilitate communication between organizations and their shareholders, as the research problem lies in lack of commitment or availability of financial reports. The study uses the qualitative approach through the theoretical method and literature review. The study found that the there are deficient studies in this field, especially in the Kingdom of Saudi Arabia, that is through reviewing previous literature, which prompted the researchers to continue this study in order to answer research questions and achieve the research objectives.

This study aims at determining the investment strategies of Masjids in Malaysia. Drawing from the success story of Tabung Haj, the study has focused on establishing the need for the efficiency in investing Tabung Masjid toward benefiting the public and fulfilling maqāÎid al-SharÊÑah (Objectives of SharÊÑah). The study introduces a MaqÉÎid based framework to test the significance of investing TM. The sample consists of 287 mosques in 9 states of Malaysia. Cross-tabulation, ANOVA, and correlations were conducted on the data collected through self-administered questionnaire. Granger causality test is performed on the forecasted investment and development indicators. Cross-tabulation results indicated that amount of donations and investment strategies of tabung vary states in Malaysia. ANOVA results have proved that money saved by mosques in banks varies significantly among states. Tukey test results indicate that mosques in southern states save less amount of Tabung Masjid in the bank compared to the masjid in other states. Correlation results proved that savings in the bank have a negative relationship with the intention toward general and capital investment. Investment of Tabung Masjid is found to have a significant positive causal relationship with economic development. Data used for analysis is of opinion and forecasted values, the exact amount of donation and investment in various sources could not be obtained. Efficient utilization of Tabung Masjid will allow mosques to play a significant role in shap- AbstrakKajian ini bertujuan untuk menentukan strategi pelaburan Masjid di Malaysia. Memelajari dari kisah kejayaan Tabung Haji, kajian ini menumpukan kepada keperluan penubuhan untuk kecekapan Tabung Masjid ke arah memberi manfaat kepada orang ramai dan memenuhi Maqasid Al-Shariah (Objektif Syariah). Kajian ini memperkenalkan rangka kerja berasaskan Maqasid untuk menguji kepentingan melabur TM. Sampel ini terdiri daripada 287 masjid di 9 negeri di Malaysia. Tabulasi silang, ANOVA, dan korelasi dijalankan ke atas data yang dikumpul melalui penyelidikan sendiri. Ujian kausal Granger dilakukan pada penanda aras pelaburan dan pembangunan. Hasil penyelarasan menunjukkan bahawa jumlah derma dan strategi pelaburan tabung berbeza-beza di Malaysia. Hasil ANOVA telah membuktikan bahawa wang yang diselamatkan oleh masjid di bank sangat berbeza antara negeri. Hasil ujian Tukey menunjukkan bahawa masjid-masjid di negeri-negeri selatan menjimatkan jumlah Tabung Masjid di bank berbanding dengan masjid di negeri-negeri lain. Hasil korelasi membuktikan bahawa simpanan di bank mempunyai hubungan negatif dengan niat ke arah pelaburan umum dan modal. Pelaburan Masjid Tabung didapati mempunyai hubungan kausal positif yang signifikan dengan pembangunan ekonomi. Data yang digunakan untuk analisis adalah pendapat dan ramalan nilai, jumlah sumbangan yang tepat dan pelaburan dalam pelbagai sumber tidak dapat diperolehi. Pemanfaatan Tabung Masjid yang cekap akan membolehkan masjid untuk memainkan peranan penting dalam membentuk profil sos...

This study aims to examine the effect of applying Total Quality Management (TQM) on improving the performance of the management of Al-Waqf of Albr societies in the Kingdom of Saudi Arabia through the optimal application of Deming's 14 Points on quality management. The research problem lies on the weakness of the outputs of Albr societies in terms of quality and productivity due to the lack of monitoring and control over those in charge of managing these charities. The researcher is going to use the descriptive qualitative, interviews and the case study approach to achieve the research' objectives. After an intensive reviewing the literature, this study confirmed the research gap and