Waqf – Jurnal Pengurusan

Wakaf CSR: An Emperical Study of Polycentric Collaborative Waqf Governance

syazwinaramjan — Wed, 12 Oct 2022 05:53:12 +0000

The key challenge to operate waqf in Malaysia lies within the ability to manage the issue of collaborative governance. In Malaysia, waqf is under the purview of State Islamic Religious Councils (SIRCs) whose permissions are needed to operate waqf legally. However, there are multiple claims that establishing the relationships with SIRCs is complex. Therefore, the main aim of this study is to overcome the paradigm of the complex collaborative relationships between the interested parties of waqf and the SIRCs. For that, the case of Wakaf CSR is chosen as a perfect example of how collaborative waqf relationship is established under polycentric governance. Qualitative approach from case study perspective is utilized for this study apart from secondary data of library search and seminal inputs. The case offers a good insight into how waqf could be operationalized harmoniously into the legal framework using collaborative governance mechanism. The success of the model demonstrated by Wakaf CSR had inspired many versions of collaborative waqf projects with SIRCs. It can be concluded that collaborative governance from polycentric perspective is an ideal formulation for executing the waqf sector in the Malaysian context.

Venture Philanthropy Waqf Model: A Conceptual Study

apriyaliwahab — Tue, 11 Oct 2022 08:27:15 +0000

The concept of venture philanthropy has been greatly discussed by various parties especially among the policy makers. The increasing social problems call for corporations to respond positively and take responsibilities in the social sector. It encourages venture philanthropy activities among profit and non-profit organizations in enhancing business values and creating positive social impacts. There have been past studies that looked at how venture philanthropy concept can be linked with Islamic philanthropy. Islamic philanthropy includes but not limited to zakat, waqf and sadaqah. The instruments within Islamic philanthropy aim to serve the purpose of narrowing social distance and reducing inequalities. This conceptual paper aims to understand further the concept of venture philanthropy and how it links to Islamic philanthropy. This paper also aims to explore how venture philanthropy approach is applicable in enhancing waqf practices.

Financing Higher Education through Waqf in Pakistan: Issues and Challenges

apriyaliwahab — Mon, 10 Oct 2022 12:01:20 +0000

This paper aims to study various issues waqf faces in general in Pakistan and probes in particular impediments and challenges to waqf funding in higher education. The paper formulates its arguments and results on the basis of information gleaned from twelve interviewees, archival records, documents and library sources. It looks at the subject matter from three different perspectives; government, waqf for higher educational institutions and general society. Waqf practice for higher education in Pakistan is largely restricted to private sector and is marred by various issues and challenges, including lack of legal framework and government support. Equally, lack of transparency and fears of centralisation have stifled its integrity and prospects for growth. Since society does not fully grasp waqf assets’ eternal nature characterised by perpetuity, irrevocability and inalienability, most of the waqf assets fail to receive sustained support. These challenges can be overcome through proper planning, understanding, and awareness of waqf. Hence, it is the responsibility of the government to make laws and provide a feasible environment for waqf practice in higher education funding as a third sector.

Model Perbankan Wakaf Korporat: Analisis Wakaf Selangor Muamalat

syazwinaramjan — Sat, 08 Oct 2022 16:48:19 +0000

This study aims to analyse the structure of the corporate waqf model applied in “Wakaf Selangor Muamalat” which has been jointly established by Perbadanan Wakaf Selangor (PWS) and Bank Muamalat Malaysia Berhad (BMMB). The paper is an exploratory study primarily based on library research and secondary information. Since “Waqf Selangor Muamalat” was only launched on September 27, 2012, the empirical data of this instrument is not yet available for analysis. BMMB is the first Malaysian Islamic banking institution which partakes in the accumulating and managing of the waqf fund for investment with the State Religious Council. The latest collaboration offers a new dimension of waqf corporate model in Malaysia, specifically as a banking model of corporate waqf. This is the first study on “Waqf Selangor Muamalat” structure since it was launched. The outcome of this study is expected to stimulate more corporate involvement of the banking sectors in activities related to waqf. The outcomes provide support to increase the socio-economic conditions of Muslims especially in health and education aspects.

The Potential of Waqf in Activating Idle Agricultural Land

syafiqahazieati — Sat, 08 Oct 2022 10:52:26 +0000

This paper attempts to analyse the possibility of collaboration of waqf in agricultural land development realizing the farmers’ financial problems in developing their land. The early Muslims made contracts among themselves as individuals without banks, self-regulated by their adherence to shariah. However, it can be argued that these days the money lenders or banking institutions have established themselves as the most easily accessible source of financing. Therefore, the fruits of transaction in the real world depend very much on the religious sincerity of the bankers. Unfortunately, the bank is an institution, not an individual, and is unlikely to favour transactions involving mutual trust and risk. Accordingly, it seems that another practical way to ensure the implementation of Islamic instruments that would really help rural economies like agriculture in developing countries would be to establish Islamic trusts (waqf) specifically designed for the purpose. It is believed, eventually, that appropriate charitable institutions could be approached to create, administer and develop trust property to be utilized to cater specific needs of Islamic societies.