Management Effectiveness in Waqf Institutions in Malaysia: A Literature Review

Sharip, Sharfizie Mohd; Awang, Marinah; Ismail, Ramlee

doi:10.6007/ijarbss/v9-i11/6546

Cited by 7 publications

(5 citation statements)

References 15 publications

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“…Based on the above statement, it shows that leadership has become one of the important criteria for a waqf institution to have effective and efficient management including in waqf reporting practices. This finding support previous concern on leadership roles in bringing to the effectiveness of waqf administration in Malaysia (Ahmad, 2019; Sharip et al , 2019).…”

Section: Findings and Discussionsupporting

confidence: 90%

Challenges and prospects in waqf reporting practices in Malaysia

Kamaruddin

Hanefah

Masruki

2022

JFRA

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Purpose This study aims to explain the justification behind the current weak waqf reporting practices in waqf institutions in Malaysia and also investigates the factors affecting the good waqf reporting practices. Design/methodology/approach A series of interviews with four waqf officers who are involved with waqf reporting process from four different waqf institutions in Malaysia were conducted. Findings The findings show a number of reasons for the current weak waqf reporting practices including the absence of standardised waqf reporting standards, no reporting or disclosure awareness by the waqf management, limited reporting channels from the state authorities to the national authorities, diversification in the governance structure and reluctance of waqf administration to disclose waqf reporting. The findings also identified several factors contributing to good waqf reporting practices. This includes leadership, good cultural setting within the institution, political will as a push factor, limited qualified personnel as well as sustainability issues and finally, the visibility of the waqf report itself. Practical implications The study findings and recommendations are useful for the State Islamic Religious Councils and waqf institutions in Malaysia to enhance the waqf reporting practices in Malaysia. Originality/value This study is among the few studies that identify the reasons and factors affecting the good waqf reporting practices in Malaysia.

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Section: Findings and Discussionsupporting

confidence: 90%

Challenges and prospects in waqf reporting practices in Malaysia

Kamaruddin

Hanefah

Masruki

2022

JFRA

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“…Previous researchers also performed a review on the effectiveness of waqf institutions management in Malaysia [2]. Their findings showed that there is no available measures or a set of core competencies that can be used to determine waqf management effectiveness.…”

Section: Related Workmentioning

confidence: 99%

“…Islamic endowment, or usually known as Waqf is a multidimensional phenomenal that aims to address challenges in globalization such as unequal distribution of wealth, financialization of economy, reconfiguration of social policies and also viability of a welfare state [1]. Since Waqf is considered as a significant source particularly for Muslim community development today, the Waqf institutions therefore must ensure their effectiveness in managing Waqf funds and assets, so to improve public trust and to establish an Islamic social economy that is more progressive and inclusive [2]. Based on the existing research, there are many studies conducted to measure the performance of various organizations mainly in the public, private and the third sector [3].…”

Section: Introductionmentioning

confidence: 99%

Application of Blockchain Technology in the Management of Waqf Institutions: Concepts, Challenges and Recommendations

Salleh,

Kassim,

Muhammad

et al. 2023

2023 IEEE International Conference on Computing (ICOCO)

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Existing studies on performance aspects of waqf institutions have mainly focused on quantitative aspects, including financial ratios, with no inclusion of other alternative analysis tools such as qualitative measurement. To the best of our knowledge, research effort in this area has been lacking. Moreover, there is a literature gap in the adoption of modern technology such as blockchain technology in the management of the waqf entities. This is undoubtedly the missing impetus to the growth and efficiency of waqf sector, realising the high degree of accuracy, accountability and reliability it demands. This study aims to explore into the feasibility of incorporating the blockchain technology to be applied in the performance measurement system that is credible and reliable for waqf institutions in Malaysia. Three experts working in Malaysian Fintech companies were interviewed, and thematic analysis approach was used for interpreting the data. This study delves into the understanding of how the blockchain technology leads to a performance measurement system that is credible and reliable for waqf institutions in Malaysia. As found in this study, there is a necessity for using effective blockchain-based performance measurement systems for Waqf institutions once the knowledge and maturity are acquired, which will contribute towards developing a more comprehensive waqf sector. It is expected that the outcomes of this study will contribute towards enriching the literature on measuring waqf organization performance.

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“…To realize evenly distributed welfare is not an easy task because material or spiritual prosperity can only possibly be achieved under certain conditions, among others by carrying out several principles that are important for realizing welfare, such as the fulfillment of human rights, including the right to obtain justice. This is where the important role of waqf for people lies because if it is associated with the concept of developing productive waqf aimed at social community interests (Sharip et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

Understanding the Intersection of Waqf and Pesantren Culture: A Study on Local Wisdom

Hendra,

Yousaf,

Rohaya

2023

Al Mabhats

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Waqf, as an integral component of the Islamic philanthropic development model, Waqf plays a crucial role in enhancing educational quality. Its economic potential is further amplified through inter-governmental partnerships. This paper aims to elaborates on the potential of waqf as an economic instrument. Utilizing qualitative literature review methods, this article underscores the economic potential of waqf in addressing a range of pertinent issues. The findings of the study reveal that (1) waqf management aligns with economic capabilities; (2) economic management is in accordance with the practices of Prophet Muhammad and his companions; (3) management models are diversifying as an adaptive response to modern economic theory; (4) Waqf holds potential for economic development. Furthermore, this study's outcomes align with the waqf management concept implemented in several countries, demonstrating its success in managing waqf and providing community benefits, all grounded in Islamic teachings.

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Management Effectiveness in Waqf Institutions in Malaysia: A Literature Review

Cited by 7 publications

References 15 publications

Challenges and prospects in waqf reporting practices in Malaysia

Challenges and prospects in waqf reporting practices in Malaysia

Application of Blockchain Technology in the Management of Waqf Institutions: Concepts, Challenges and Recommendations

Understanding the Intersection of Waqf and Pesantren Culture: A Study on Local Wisdom

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