Issues and Challenges of Waqf Practice in Malaysia: A Review

Jalil, Mohamad Isa Abd

doi:10.51200/ljms.v14i.2868

Cited by 15 publications

(15 citation statements)

References 6 publications

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“…Nor and Rosman (2017) found that the community is hesitant when it comes to implementing waqf education for higher education institutions in Malaysia because of lack of knowledge of waqf as well as waqf governance that has not been properly implemented. Waqf land was also challenging to be developed because of non-strategic location (Mutalib et al, 2019) and not properly maintained (Jalil, 2020). In terms of corporate waqf, it was found that attitude and subjective norm have a positive relationship toward the behavioral intention.…”

Section: Intention Of Small-medium Enterprises' Ownersmentioning

confidence: 99%

The intention of small and medium enterprises' owners to participate in waqf: the case of Malaysia and Indonesia

Laila

Ratnasari

Ismail

et al. 2022

IMEFM

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Purpose The purpose of this study is to assess small and medium-sized enterprises (SMEs) owners’ intentions to participate in waqf, involving two countries, which are Malaysia and Indonesia, using the theory of planned behavior. SMEs are the backbone of many economies, representing 95% of all companies worldwide and accounting for 60% of employment. Based on this fact, this paper analyzes the influence of religiosity, knowledge and attitude to predict the intentions of SMEs’ owners in waqf participation in Malaysia and Indonesia. Design/methodology/approach Data were randomly obtained from 175 SMEs owners from Malaysia and Indonesia with the Statistical Package for the Social Sciences (SPSS) used for analysis. Findings The empirical analysis data suggest that knowledge and attitude show a significant impact on the intentions of SMEs’ owners to participate in waqf, while religiosity does not have a significant impact on the intentions of Malaysian and Indonesian SMEs’ owners to participate in waqf. Practical implications This study aims to assist SMEs in Malaysia and Indonesia to formulate appropriate strategies and marketing using waqf for the sustainability of SMEs which represent more than 90% of business establishments in both countries. The strategy is a necessity, especially because the government is targeting to promote a sustainable Islamic financial system, improve governance policy and halal industry for SMEs, strengthen the development of Malay Reserve land, providing as financial independence to higher learning institutions and invest in digitalization and advanced technology through waqf funds. Therefore, both countries should take the initiative to provide training to equip SMEs with extensive knowledge through multiple platforms to further encourage their participation in waqf. Originality/value Because of the increasing interest in waqf participation both in Malaysia and Indonesia, this study claims three essential contributions. First, it aims to examine the intention of SMEs in waqf participation among the business owners in Malaysia and Indonesia. Second, the study findings are expected to benefit the development of literature in accordance with Islamic social finance, particularly waqf. Third, this study provides an insight into the inclusive knowledge and attitude of SME owners and their intention to participate in waqf.

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Section: Intention Of Small-medium Enterprises' Ownersmentioning

confidence: 99%

The intention of small and medium enterprises' owners to participate in waqf: the case of Malaysia and Indonesia

Laila

Ratnasari

Ismail

et al. 2022

IMEFM

View full text Add to dashboard Cite

show abstract

“…It is easy to manage, more practical to distribute, still able to generate more funds and relevant means for the development of the society (Nadwi & Kroessin, 2013;Saduman & Aysun, 2009;Kahf, 1999). Cash waqf is used to finance various activities, for instance education, constructing school, hospital, bridge, roads, ports, mosque maintenance, social services, clean water and workers (Jalil, 2020;Johari et al, 2015;Mohsin, 2009;Cizakca 2013). Furthermore, we would like to offer the cash waqf model that is able to apply among OIC country members in the future.…”

Section: Resultsmentioning

confidence: 99%

Initiating The Integrated Cash Waqf Model Among OIC Countries

Fatoni¹

2021

IJF

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Waqf is a very valuable asset in the development of human’s social life. Its role in wealth distribution and poverty alleviation are the target that to be achieved by waqf. To achieve this role, the government has created several real productive waqf innovation programs, for instance cash waqf linked sukuk, insurance waqf, waqf-based palm factory, waqf-based office towers and insurance policies. This study aims to initiate the integrated cash waqf model among OIC countries and to know the development trend of waqf model research published by leading journals on Islamic economics. The data analyzed consisted of 118 indexed research publications. The data is then processed and analyzed using the VoS viewer application to find out the bibliometric map of the waqf model research development. Lastly, we would like to provide an offering in developing cash waqf model among OIC country members.

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“…Dan, bertakwalah kepada Allah, sesungguhnya Allah Maha Penerima Tobat Lagi Maha Penyayang." Sedangkan perilaku menemukan dan melaksanakan solusi terbaik tercantum dalam surat Ali Imran ayat 92 (Ismail, 2015) yang berbunyi "Kamu sekali-kali tidak sampai kepada kebajikan (yang sempurna), sebelum kamu menafkahkan (mempersembahkan) sesuatu yang kamu cintai. Dan apa saja yang kamu nafkahkan, maka sesungguhnya Allah mengetahuinya.…”

Section: Sinergiunclassified

Analisis Nilai-nilai Kementerian Keuangan Berdasarkan Perspektif Agama-agama Abrahamik

Adhitama

2024

Kamaya

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The Ministry of Finance of the Republic of Indonesia is one of the ministries that plays an important role in implementing state rights and obligations, especially in the field of state finance. There are five Ministry of Finance Values that guide employees' attitudes and behavior, namely Integrity, Professionalism, Synergy, Service, and Perfection. It is necessary to strengthen the Values of the Ministry of Finance among employees and officials of the Ministry of Finance so that every employee and official can apply the Values of the Ministry of Finance, one of which is through understanding the Values of the Ministry of Finance based on a religious perspective. This research aims to analyze the values of the Ministry of Finance based on the perspective of religions, especially Abrahamic religions, such as Islam, Christianity, and Catholicism. The approach used in this research is a qualitative and descriptive approach. The data collection method uses in-depth interviews and literature study. The results of this research show that all the Ministry of Finance's values, including the main and accompanying behaviors, are found in Islamic, Christian, and Catholic religious teachings. There are many verses in the holy book Al-Quran and the Hadith of the Prophet Muhammad SAW which invite and oblige Muslims to have an attitude of integrity, professionalism, synergy, providing the best service, and achieving perfection. Likewise, in the Bible or Gospel, there are many verses that support the Values of the Ministry of Finance and invite Christians to have an attitude of integrity, professionalism, synergy, service and perfection. It is hoped that this analysis of the Ministry of Finance's values based on a religious perspective can be a means of strengthening the attitudes and behavior of Ministry of Finance employees.

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Issues and Challenges of Waqf Practice in Malaysia: A Review

Cited by 15 publications

References 6 publications

The intention of small and medium enterprises' owners to participate in waqf: the case of Malaysia and Indonesia

The intention of small and medium enterprises' owners to participate in waqf: the case of Malaysia and Indonesia

Initiating The Integrated Cash Waqf Model Among OIC Countries

Analisis Nilai-nilai Kementerian Keuangan Berdasarkan Perspektif Agama-agama Abrahamik

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