Measuring the Efficiency of Waqf Fund in Indonesia

Rusydiana, Aam Slamet; Sukmana, Raditya; Laila, Nisful

doi:10.21098/jimf.v8i0.1650

Cited by 4 publications

(3 citation statements)

References 17 publications

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“…According to research by Hasan et al (2020), found that the efficiency of public waqf institutions is low due to several factors, including lack of transparency, inadequate management, and limited resources. Rusydiana et al (2022) found that the efficiency of waqf funds managed by philanthropic institutions is also low, mainly due to the lack of proper management and utilization of waqf assets. Alshater et al (2022) stated that the lack of proper management and utilization of waqf assets is a common problem in many countries, leading to low efficiency levels of waqf institutions.…”

Section: Resultsmentioning

confidence: 99%

Measuring the Productivity of Indonesia Waqf Institution (2015-2021): A Malmquist Index

Maulida,

Laila

2024

IJW

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This study aims to measure the productivity of waqf institutions in Indonesia using the Malmquist Productivity Index (MPI) method with the research period 2015-2021. The research objects used are 6 waqf institutions in Indonesia. The data from this study comes from the annual financial statements of each institution from the 2015-2021 period. The input variables in this study are employee costs, operational costs and fixed assets. And for the output variable is the collection and distribution of waqf. The results of this study explain that during the 2015-2021 period, the productivity level of waqf institutions in Indonesia had a fluctuating trend from year to year. Based on the average tfpch score, it is concluded that the productivity of waqf institutions shows an increase and technological change contributes optimally to the increase in the productivity of waqf institutions in Indonesia. Furthermore, the Covid-19 pandemic phenomenon does not have a significant impact on the productivity level of waqf institutions in Indonesia.

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Section: Resultsmentioning

confidence: 99%

Measuring the Productivity of Indonesia Waqf Institution (2015-2021): A Malmquist Index

Maulida,

Laila

2024

IJW

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“…Other studies related to efficiency and productivity measurement on waqf and other Islamic social finance institutions for the example can be found at Rohmatullah (20220, Putri (2022), Rusydiana et al, (2022), Uula (2022), and also Khamis & Salleh (2018) study.…”

Section: Introductionmentioning

confidence: 99%

Assessing the Efficiency of Waqf Institutions in Indonesia: A Non-Parametric Approach

Maulida,

Mi'raj

2024

ISF

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Maintaining waqf performance is important to ensure that waqf assets are well managed. The effectiveness and efficiency of waqf asset management is crucial so that progress can be measured. This study aims to evaluate the efficiency of waqf institutions in Indonesia during the 2015-2021 period using the non-parametric Data Envelopment Analysis (DEA) approach. The research object includes six waqf institutions in Indonesia, with data obtained from the annual reports of each institution. The results show that during the observation period, no waqf institution has managed to achieve the optimum efficiency score. In addition, the efficiency trend of waqf institutions shows a downward trend, especially during the Covid-19 pandemic. Through potential improvement analysis, this study succeeded in identifying the main factors causing the inefficiency of waqf institutions. In particular, output variables such as waqf fund receipts and disbursements become the main focal points for efficiency improvement.

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“…The waqf fund can create “Economics of Giving” with the assistance of the government and ongoing donations from donors, enabling greater individual and societal well-being. However, funding qardhul hassan financing through waqf has been questionable as some scholars did not like the idea of giving qardhul hassan from sadaqah funds out of limited comprehension of its specific merits given to individuals in society at large (Sukmana et al , 2022; Rusydiana et al , 2022). This warrants the current study to be undertaken to reduce the gap.…”

Section: Introductionmentioning

confidence: 99%

Waqf-based qardhul hassan financing preference in Malaysia: an exploratory study

Amin,

Hassan,

Shaikh

2023

IJOES

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Purpose The purpose of this study is to examine donors’ or waqifs’ desire for waqf-based qardhul hassan financing in Malaysia using a maqasid method, where a pragmatic approach is used. Design/methodology/approach Using judgemental sampling, a total of 275 waqifs participated in this work to identify their preference in donating their money to the facility should it is introduced. Using the developed waqf-based qardhul hassan scale (WAQASCALE), this study examined the preference accordingly. Data were analysed using IBM SPSS 27. Findings The results obtained were as follows: the first factor considered by the waqifs in donating money was perceived household well-being, followed by perceived recipients’ welfare, perceived mankind benevolence and perceived Muslims’ community security. Research limitations/implications The authors developed construct items that had generalisability issues as they were at the infancy stage of development among social finance scientists along with the narrow geographical constraint where the actual survey was conducted. Practical implications The results were useful in giving new guidance to state governments and Islamic banks (IBs) in Malaysia to explore further this sort of facility for the improved well-being of those affected by COVID-19. Besides, sustainable development goals (SDGs), such as poverty, hunger and responsible consumption, among others can be addressed effectively for the mutual well-being of those affected by the health crisis in an effort of combating financial hardships in the meeting of basic needs, at least. The partnership between the state government and IBs could lead to the offered qardhul hassan financing-sourced funding from waqf for reduced financial hardships by needy and poor folks. Originality/value This study introduced a new WAQASCALE in the context of qardhul hassan financing in Malaysia.

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Measuring the Efficiency of Waqf Fund in Indonesia

Cited by 4 publications

References 17 publications

Measuring the Productivity of Indonesia Waqf Institution (2015-2021): A Malmquist Index

Measuring the Productivity of Indonesia Waqf Institution (2015-2021): A Malmquist Index

Assessing the Efficiency of Waqf Institutions in Indonesia: A Non-Parametric Approach

Waqf-based qardhul hassan financing preference in Malaysia: an exploratory study

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