Integrating Cash Waqf : Collaboration Between Bank Muamalat Malaysia Berhad (BMMB) and Perbadanan Waqf Selangor (PWS)

Abstract

This paper discusses the collaboration between Bank Muamalat Malaysia Berhad (BMMB) and Perbadanan Waqf Selangor (PWS) in integrating cash waqf management for the maslahah especially Muslim in Malaysia. It also examines how these two organizations jointly collaborate for the purpose of managing Cash Waqf relating the roles, objectives, issues and challenges and the sustainability of jointly management committee between BMMB and PWS. This successful effort gives a chance to public who do not have any assets or properties to make cash contribution in waqf. The respondents of the study comprised executive and management level from each organization and institution. The research focuses on the future planning and sustainability of BMMB and PWS in ensuring the continuous increment of the cash waqf fund. This research was based on qualitative method and the data was collected directly from the key person in each organization and institution. The implication from this study shows that, there is a need for an effort and plan to ensure the sustainable success of BMMB and PWS in managing the cash waqf. The study proposes that either BMMB or PWS and also industry player should make a continuous promotion to enhance the public knowledge to always sustain and increase the awareness of Cash Waqf.