Waqf Institutions Research Articles

Transformational leadership: a qualitative study from waqf institutions in malaysia

This study entails an exploratory investigation of transformative leadership in the context of waqf institutions. In analysing the transformational leadership style, the study interviewed the heads of the State Islamic Religious Councils in charge of waqf institutions in Malaysia. The best practices in the two waqf institutions were found to fall under four areas related to transformational leadership: idealised influence, inspirational motivation, intellectual stimulation, and individualised consideration. The four categories were generated from three sub-categories, bringing the overall total to 12 sub-categories. The findings demonstrate the applicability of transformational leadership in waqf institutions, where it fosters employee inspiration, contentment, and creativity. In addition, this study adds to the body of knowledge as there are not many previous investigations on transformational leadership in the setting of waqf institutions. Waqf sector leaders can use this study's practical application to comprehend, apply, practice and evaluate transformational leadership in accomplishing the objectives of their respective waqf institutions.

Hybridization: How Does a Waqf Institution Manage Its Complexity? Evidence from Yayasan Wakaf UMI

This study aims to analyze the hybridization that occurs in waqf institutions. We combine a literature review, a case study, and expert opinions. The case study was conducted at the Indonesian Muslim University Waqf Foundation (YWUMI). Case study data collection was carried out through semi-structured interviews with 11 respondents. Requests for expert views were made through focus group discussions with four experts. Hybridization causes them to experience institutional complexity with the coexistence of business logic and Islamic social logic. YWUMI navigates institutional complexity through a structural differentiation strategy in which each unit of logic applies differently. In addition, the internalization of Islamic morality helps them manage organizational hybridity. The use of a hybrid organizational approach and institutional logic will provide insight into waqf management, especially regarding the institutional impact of initiatives to encourage productive waqf management.

Waqf Literacy Level and Its Determinants on Public Intention to Contribute Cash Waqf: a Study of Waqf Institutions in Indonesian

This study aims to analyze the literacy level of public interest in paying cash waqf at waqf institutions in Indonesia. The theory of planned behavior (TPB) was used as the research framework. Structural equation modeling (SEM) to measure the relationship between latent variables, namely religious compliance, involvement of waqf organizations, utilization of media technology tools, elements of education, attitudes, subjective norms, and behavioral control employed as the main analysis technique. The SEM model in this study was processed using SmartPLS 3.0. The results showed that subjective norms and religious observance had a significant effect on interest, elements of education and the utilization of media technology tools had a significant effect on PBC, and the involvement of waqf organizations had a significant effect on attitudes. PBC has a significant negative effect on interest, religious compliance has a significant negative effect on attitudes. Meanwhile, attitude has no significant effect on interest.

Optimization of Digital-based Waqf and Its Role in Economic Development in Indonesia

This study aims to analyze the optimization of digital-based waqf in Indonesia and its contribution to economic development. This study uses a qualitative approach through descriptive analysis. The results and discussion of this study show that digital-based waqf has enormous potential in Indonesia; technological advances have helped waqf management with the presence of various platforms from several waqf institutions, as well as new technology in the form of blockchain that can assist in waqf management and, in the end, can contribute to economic development. This study concludes that optimally managed waqf can contribute to creating a prosperous society. The benefits of this research are expected to increase awareness about the importance of waqf and the potential of waqf in Indonesia. This study recommends the parties involved in waqf optimize further the potential of waqf, which is still unexplored.

The determinants of financial technology adoption amongst Malaysian waqf institutions

PurposeThe popularity of financial technology (fintech) is rising in society due to fintech's direct benefits to users. This digital-based approach is one of the outputs of the Industrial Revolution 4.0, which transformed the path of human history and resulted in the development of digital transformation strategy innovation, more commonly referred to as digitalisation. Previous literature has predicted that integrating fintech into waqf management will facilitate fintech's growth and expand waqf outreach in Malaysia. Therefore, this paper aims to examine the impact of “Industry 4.0” on the expansion of fintech into cash waqf in Malaysia.Design/methodology/approachThis study uses Rogers' (2003) diffusion of innovation (DOI) model. In addition, a quantitative approach based on structural equation modelling (SEM) was utilised to analyse the relationship between awareness, knowledge, relative advantage, social norms, perceived trust and fintech adoption in waqf institutions by using the tool Analysis of Moment Structures (AMOS) version 23.0 with maximum likelihood estimation.FindingsThe overall indicate that perceived trust and social norms significantly influence the adoption of fintech by Malaysian waqf. At the same time, other factors such as awareness, relative advantage and knowledge do not appear to significantly influence the adoption of fintech amongst Malaysian waqf institutions.Research limitations/implicationsThis study contributes significantly to the current literature concerning the Fourth Industrial Revolution and the wave of technologies. In addition, this study supports relevant theories, including DOI and other technology adoption theories. Aside from this, the study provides empirical contributions to waqf management regarding collecting and distributing waqf, improving the level of regulation of the waqf institutions and enhancing trust between donors, waqf management and beneficiaries. This study is amongst the first in the area of waqf that focus on Malaysian waqf intitutions.Originality/valueThis is important for policy development to support the utilisation of fintech for waqf institutions, which leads to more transparency and efficiency.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-04-2022-0264

Exploring Shariah audit practices in zakat and waqf institutions in Malaysia

PurposeThis study aims to explore the current Shariah audit practices in zakat and waqf institutions in Malaysia.Design/methodology/approachA focus group discussion (FGD) with 38 zakat and waqf officers from 17 different zakat and waqf institutions in Malaysia was conducted. For reporting purposes, this study used a single-case study approach. The FGD was conducted and completed at the end of June 2021 via an online approach through Microsoft Teams.FindingsThe finding highlights the existing Shariah governance practices especially in terms of Shariah supervision roles, Shariah audit implementation in terms of Shariah audit scopes and common findings, Shariah audit competency, Shariah audit effectiveness especially the need for external Shariah audit function and Shariah audit issues and challenges faced in the implementation of Shariah audit practices.Practical implicationsThe study findings and recommendations are useful for zakat and waqf institutions as well as the State Islamic Religious Councils to enhance Shariah audit practices in Malaysia.Originality/valueThis study is among the pioneer studies that explore Shariah audit practices in zakat and waqf institutions in Malaysia.

Risk Management for Cash Waqf Institutions Based on Good Corporate Governance Perspective: Lessons Learned from an Islamic Rural Bank in Indonesia

Waqf, including cash waqf, is one of the Islamic social finance instruments that has been playing a significant role to develop community welfare throughout the history of Islam. Nowadays, Cash waqf significantly grows globally in countries like Saudi Arabia, Egypt, Kuwait, Turkey, Bangladesh, Malaysia, and Singapore. The unique feature of cash waqf is though it is subject to value volatility, shariah imposes that the value of cash waqf should not depreciate hence appreciation is required. Involving different parties in the process of cash waqf management, several risks may arise including moral hazards, conflict of interest, non-shariah compliance events, and so on. Thus, risk management becomes a must in managing cash waqf. Studies have deliberated on this issue and concluded with various findings. This study aims to use a Good Corporate Governance (GCG) perspective to examine risk management in the management of cash waqf at BPRS Barokah Dana Sejahtera. A qualitative method using semi-structured interviews was deployed to obtain primary data which has some extent of more comprehensive information to be analyzed rather than secondary data. This study concludes with some points including advantageous impacts on Cash Waqf Management Institution (LKS-PWU) regarding financial performance and the mauquf alaih nuance resulting from effective risk management. Moreover, the implementation of GCG principles as a framework for risk management in Cash Waqf institutions encourages the community to continuously contribute to cash waqf through LKS-PWU.

Accountability Analysis With The Application Of Psak 112 In The Financial Statements Of Cash Waqf In Madura

The importance of accountability financial reports is a form of accountability from waqf assetsentrusted by the wakif to an institution/agency that became nadzhir. The better the financialreports are made, the more trust will increase from the public and vice versa. PSAK 112regarding waqf accounting can help nadzhir parties to prepare better financial reports of waqfassets. This research uses a qualitative descriptive type approach. The research locations areLAZISMU Pamekasan and KSPPS Nuri East Java. Sources of data in the form of observations,interviews and documentation. The results of the research are; Accountability from LAZISMUPamekasan and KSPPS Nuri East Java has worked in accordance with the indicators andforming factors of financial report accountability. The application of PSAK 112 at LAZISMUPamekasan has a conformity of 35% and the remaining 65% still needs to be improved.Whereas in KSPPS Nuri East Java it has a suitability of 41% and the remaining 59% still needsto be fixed again. This means that the financial statements of cash waqf funds issued byLAZISMU Pamekasan and KSPPS Nuri East Java are still lacking from the financialcomponents commonly made by waqf institutions according to PSAK 112. At LAZISMUPamekasan and KSPPS Nuri East Java there has been no instruction from the leadership touse PSAK 112 and there is no concrete socialization from the authorities.

SOSIALISASI TATA CARA PENDAFTARAN TANAH WAKAF DI MUI KABUPATEN SIMALUNGUN

Waqf institutions are one of the Islamic social institutions that have high socio-economic value, and are a form of embodiment of social justice in Islam. in general, so it is necessary to develop its utilization in accordance with sharia principles, as mentioned in the Al-Qur'an surah At-Taubah verse 103. However, in reality many waqf lands are neglected in the community, giving rise to legal problems, especially in Simalungun Regency. This is due to Nazhir's inability to manage and develop waqf assets, the attitude of the people who do not care, the community does not understand the status of waqf assets that should be protected, and the community does not understand how to register waqf land. This problem encourages extension agents to cooperate with Ladui MUI Province, MUI Simalungun Regency, to conduct legal counseling entitled Procedures for Registration of Waqf Land in the form of Community Service at the Simalungun Regency MUI Office. Ways and conditions for registering waqf land, understanding the elements of waqf, nazhir waqf obligations, understanding legal issues regarding waqf and the legal force of waqf certificates. The conclusion in this activity is that it is necessary to increase the frequency and socialization regarding. Procedures for Waqf Land Registration.

Tinjauan Ekonomi Syariah Terhadap Penggunaan E-Wakaf Serta Perannya Dalam Mendorong Generasi Muda Berwakaf

The potential of waqf as one of the asset instruments of Muslims in Indonesia has a great opportunity in sustainable economic development in the era of rapid technological development. These potentials and opportunities prompted this research to be carried out with the aim of knowing the perspective of Sharia economic law on collecting cash waqf funds through the use of Fintech or what is familiarly called E-Waqf. Furthermore, how this application encourages the interest of the younger generation in waqf and the factors that influence it. This article is classified as a literature research with a qualitative approach as the basis. The methodology used is a juridical-normative study for the review of E-Waqf law, and a qualitative method in mapping the interest of millennials in waqf. The results of this study show that the use of E-Waqf in waqf is allowed with several conditions that must be met. Meanwhile, the interest of the younger generation in waqf through E-Waqf is still relatively low. This is due to the lack of trust of the younger generation in waqf institutions that manage waqf assets

Proper waqf management and waqf accounting report: A mean to solve economic problems in Indonesia

This study aims to propose that a proper waqf management and waqf accounting practices in Indonesian waqf institutions will be one of the solutions for the economic problems. Data were collected through secondary data such as books, journals, and articles related to the waqf accounting or management. A proper waqf management and waqf accounting report is a crucial tool for achieving socioeconomic development and, if properly applied, may significantly contribute to the reduction of unemployment and the eradication of poverty, ultimately aiding in the socioeconomic advancement of Muslim communities. This study only focuses on waqf in Indonesia. Thus, the results of waqf may not be generalizable to other waqf in other countries or to privately managed waqf institutions. This study is expected to contribute to the improvement of waqf administration. The paper suggests a proper waqf management and waqf accounting report as a solution to the economic problems such as poverty, hunger and unemployment.

WAQF INSTITUTIONS IN KUWAIT: HISTORICAL PERSPECTIVE

Waqf is an Islamic financial institution that can be operated to fulfil the various needs of the Muslim community. This qualitative-based research aims to review the beginnings of waqf in Kuwait up until the current day. It also aims to explain the Kuwait Awqaf Public Foundation experience as well as highlight the works of waqf institutions and their waqf share schemes. It can be concluded that Kuwait has a very rich waqf history and a considerable present experience, with variations between government and private practice.

Governance Structures: Dependability And Efficiency Of The Waqf Institutional System In Malaysia

Waqf lands have the potential to bring in billions of dollars in income for Muslim communities provided that they are successfully developed and managed. In the past, there was no established legal framework for the management of waqf in Malaysia. As a result, waqf land and assets were managed in an inefficient and disorganized manner. The State Islamic Religious Council (SIRC) in Malaysia oversees the waqf administration and is responsible for the legislation in Malaysia that is related to waqf. The SIRC in its role as the sole trustee is in charge of overseeing all aspects of waqf matters. It was made more difficult in Malaysia because there are 13 states and federal territories and each of them has its waqf regulation and as a result, there are different challenges. In addition, the law and enactment of waqf in each state are uniquely distinct from the legislation and enactment in the other states correspondingly. The disparities in size, the varying numbers of waqf properties, and other aspects are the core of these problems. If these Waqf properties were efficiently handled, it would be the ideal solution to the challenge of increasing the social and economic position of the Muslim community. Unfortunately, the waqf institutions in Malaysia do not seem to be capable of playing a proactive role in promoting the economic growth and overall development of Muslims in Malaysia. The purpose of this study is to better understand the challenges in governance, especially in the administration, management, and development of waqf in Malaysia

The indexing of resources toward nazhir waqf

Purpose – This paper aims to find the factors for designing an index of the quality of developing human resources as nadzir waqf to control and to be the reference for waqf management in every waqf institution.Methodology – This study used a qualitative method with the Analytic Network Process. The data analysis shows the most dominant influence and determines the priority order, and decision-making. The data analysis will be the weighted sum for the performance ratings for each alternative across all attributes using the Simple Additive Weighting method and at the end, the Nazhir Wakaf Index (INW) value will be obtained.Findings – The research finds the factors in the internal and external resolutions bringing experts into the field by monitoring, and synergies with the government. The Nazhir Waqf Index that tried implemented is low with a score of 40.731. From the table and figure, it can be concluded that the highest variable design score of the Nazhir Wakaf Index (INW) at Pondok Modern Gontor is the assignment with a score of 100. With that assignment, the nadzir waqf has the autonomy to develop his competencies and abilities.Implications – If approached the index one would be the solution to the development. By offering a preliminary index and delivering informative advertising nadzir waqf resources will ensure the ability to provide efficient management.Originality – This research takes an important research gap to analyze the competence of nadzir waqf by making measurements in the development of nadzir waqf resources that can be used by any waqf institution.

Impact of Understanding, Islamic Religiosity, Product Knowledge, and Trust on Intellectual Property Rights Waqf Intentions

This study aims to investigate the Indonesian Muslims' intention toward the intellectual property rights of Waqf. This article uses the quantitative method. This study used 210 respondents who have waqf knowledge. The data analysis method used is the Partial Least Square (PLS) method. The authors' contributions were divided into two. First, the significance of the indicators that make up the variables of intention, Islamic Religiosity, understanding, product knowledge, and trust in waqf institutions regarding the waqf intellectual property rights. Second, the significance of the factors that influence the intention of the Indonesian Muslims in waqf intellectual property rights. It was the Islamic religiosity variable that had a positive and significant influence on the intention of waqf intellectual property rights. The findings of this research support the Indonesian Waqf Board in increasing the collection of waqf assets from Muslim communities in Indonesia. The Indonesian Waqf Board needs to implement various waqf programs to increase the knowledge and understanding of Indonesian Muslims regarding waqf intellectual property rights. The variable Islamic Religiosity needs to increase in Indonesian society since it has a positive and significant influence on the intention of waqf intellectual property rights.

Donors’ Intention to Use Waqf-Based Crowdfunding in Kuwait Extension The Theory of the Technology Acceptance Model

The waqf-based Crowdfunding model (WCF-M) is an online pool of funds for social, altruistic, and charitable purposes. WCF-M's campaigns and practices benefit the community, endowment foundations, and donors. This conceptual research seeks to review the literature on WCF-M in the context of WCF-M adoption in Kuwait. It has also proposed an innovative model incorporating religiosity as an essential determinant of the Unified Theory of Acceptance and Use of Technology (UTAUT). This model intends to capture donors' intention to use WCF-M within waqf institutions, extend the literature, and validate the UTAUT model in WCF-M studies. Ultimately, studies of WCF-M adoption are currently sparse and require additional research, particularly from an Islamic perspective.

The Proposed Model for Successful Cash Waqf Management for Waqf Institutions in Indonesia

The collection of cash waqf in Indonesia shows an increase. It is in line with the existence of an agency that explicitly handles waqf in Indonesia, namely the Indonesian Waqf Board (BWI). However, specific research that focuses on the successful management of cash waqf is still limited. This study aims to describe the determinants of the success of cash waqf management. Literature research data sourced from Google Scholar. Data collection using the publish or perish application. Data analysis used the preferred reporting items for systematic reviews and meta-analyses (PRISMA). The study results have identified five indicators of successful cash waqf management: regulation, nadzir, mauquf 'alaih, Islamic financial institutions, and management systems. In the end, this research has also produced a conceptual model that determines the success of cash waqf management. The Indonesian Waqf Board and community organizations that manage cash waqf can respond to the results of this study by increasing their contribution to the five success factors of cash waqf management

Mapping Waqf Research: Bibliometric Analysis

<p><em>The purpose of this study is to examine Indonesia's waqf development pattern. Waqf-related research includes, among other things, the study of waqf law, productive waqf schemes, empowering waqf for poverty, stock waqf, and waqf connected to sukuk. The most popular articles are frequently those that discuss how waqf can reduce poverty and promote economic empowerment. Studies on the professionalism of waqf institutions in Indonesia are relatively few. A review of the literature on the management of waqf institutions in favor of professionalism was done by the researchers in light of this. This study is a quantitative investigation that makes use of bibliometric analysis. A quantitative strategy for examining bibliographic information in papers and journals is called bibliometrics. In this study, a waqf journal that Google Scholar has indexed served as the population. Publish or Perish 8 was used to select the samples for this study, which were publications with the keywords "management of waqf institutions," "waqf institutions," and "professionalism of Nazhir" in Indonesia. The information demonstrated an increase in the number of publications since the average year. According to Google Scholars, there were 82, 89, 110, 141, 147, 143, and 195 more publications about endowment per year from 2015 to 2021. The research's key themes were the effects of waqf on the role of nazhirs, effective waqf management, and nazhir certification.</em> <em>Future research plans are anticipated to concentrate on the professional behavior of waqf institutions and how to best foster professionalism through waqf institutions. In Indonesian waqf institutions, there is a level of professionalism known as nazhir certification. This study is intended to advance waqf research both domestically and internationally so that waqf research can expand with new topics and become more diverse.</em></p>

Cash Waqf through Islamic Banks

This research aims to identify the priority factors that are barriers to developing the practice of cash waqf through Islamic financial institutions in Indonesia using the Interpretive Structural Modeling (ISM) method. The development of cash waqf through Islamic banks in Indonesia with ISM framework is divided into three criteria: (1) Challenges (aspects) faced in developing cash waqf, (2) Strategy or foundation required within the framework of developing cash waqf, and (3) Stakeholders or actors involved in the development of cash waqf in Indonesia. The result show that the core problems and challenges faced in the development of cash waqf institutions are: System aspect, product, regulation, and information technology. The core strategies or foundations that are needed in the framework of cash waqf development are transparency and accountability of waqf institutions, Quality development of nadzir, and Innovative marketing strategy from waqf institutions. Government and Badan Wakaf Indonesia are stakeholders or actors involved and related to the development of cash waqf in Indonesia.

Promoting the Institution of Waqf for Socio-economic Development in Islamic Societies

Promoting the Institution of Waqf for Socio-economic Development in Islamic Societies