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Article
Publication date: 27 September 2011

Hairul Suhaimi Nahar and Hisham Yaacob

The concept of accountability has long been argued in the academic and public policy debate to have been contextually ingrained in the technical processes of accounting…

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3668

Abstract

Purpose

The concept of accountability has long been argued in the academic and public policy debate to have been contextually ingrained in the technical processes of accounting and reporting. Both processes provide lenses through which the extent of managerial accountability in the corporate context could be objectively examined. The sacred religion of Islam as a social order with a complete code of life classifies accountability as being dual; in line with the duality concept in life – in this temporal world and eternal hereafter, necessitating for accountability concept in accounting and reporting from the Islamic worldview to transcend beyond the point of worldly objectives. Parallel to this line of reasoning, the purpose of this paper is to undertake a preliminary empirical investigation with respect to accounting, reporting and accountability practices of a Malaysian cash awqaf (Islamic endowment) management institution over a six‐year period, from 2000 to 2005.

Design/methodology/approach

The paper uses triangulation research approach, consisting of case study method and archival documentation review and analysis.

Findings

The preliminary findings indicate that, while the root of accountability in the management, accounting and reporting practices seems to exist in the awqaf entity studied, significant improvements remain necessary to ensure accountability could be continuously enhanced and uphold.

Originality/value

Debating accountability concept in the context of management, accounting and reporting as practiced by faith‐based institution of awqaf from the Islamic perspective inevitably directs this study to highlight the notion of Islamic accounting and reporting commonly and extensively discussed in the realm of Islamic finance and banking. The study's conjecture is that, by debunking the myth of Islamic accounting and reporting as only serving the acute domain of transactions reflecting the Islamic financial products in banking environment, it helps to reshape, broaden and emphasize the all encompassing relevance of Islamic accounting and reporting to that of not‐for‐profits, religiously grounded entities such as awqaf institutions. The study further contributes to the accountability and financial reporting literature in Islamic not‐for‐profit organizations by studying the importance of sound accounting practices and reporting transparency in ensuring accountability.

Details

Journal of Islamic Accounting and Business Research, vol. 2 no. 2
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 10 August 2015

Hisham Yaacob, Saerah Petra, Azimah Sumardi and Hairul Suhaimi Nahar

The purpose of this paper is to review, understand and document the contemporary waqf-S management, financial accounting and reporting practices and to understand relevant…

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1398

Abstract

Purpose

The purpose of this paper is to review, understand and document the contemporary waqf-S management, financial accounting and reporting practices and to understand relevant drivers behind the current accountability culture in waqf-S, aiming at exploring the intertwined nature of accounting, reporting and the religion of Islam. The accountability literature has been relatively scant on the role played by accounting and reporting in not-for-profit, religious-based organizations and its implications for accountability discourse. Three accountability drivers of regulatory, stakeholders and religious image are tested. It is interesting to research how management, accounting and reporting are being practiced in an Islamic organization setting in a non-Islamic country.

Design/methodology/approach

Consistent with the established research objectives, this study adopts the qualitative research approach of a single case study research involving semi-structured interviews and archival documentation review and analyses. Sample is chosen using purposive sampling to suit the research objectives.

Findings

The paper finds that waqf-S is a very successful awqaf manager. The administration and management are carried out in the most effective manner with comprehensive rules, guidelines and procedures. The awqaf financial reporting and management are impressive as annual financial reports are published on time and available for the public online. The paper proposes three lenses to examine the accountability drivers of waqf-S: Regulatory, Stakeholders and Religious image of Islamic organization and, it turns out that all three are equally important in driving the organization accountability practices.

Research limitations/implications

The sample is an Islamic organization in a non-Islamic country; therefore, the results are unique and may not be generalised to organizations in Islamic nations, as it will be a different setting with different variables. Secondly, the paper only focuses on awqaf financial accounting, awqaf reporting and investigating the driving factors for the institution’s accountability culture.

Practical implications

This paper is important as it shows that the management and administration of awqaf, which has been plague by mismanagement, embezzlements and lack of talents, can be improved and managed systematically, although there is a clear evidence of the lack of capable or talented human resources. It is compensated by the significant use of technology.

Originality/value

Focusing on a single awqaf institution (waqf-S) operating in a non-Islamic Southeast Asian country, our analysis allows us to observe the influence of multiple factors influencing its organizational wide accountability policy. We consider this as a contribution to the literature, as it generates knowledge on how management, accounting and reporting are being devised as strategic tools in the institution’s accountability policy framework, beyond the normal office management, financial data recording and disclosure per se. Multiple factors drive the structured and transparent reporting by waqf-S, transcending beyond the traditional financial accounting and reporting boundary of meeting regulatory requirements; it reaches the concerned while ensuring that the necessary accountability towards stakeholders is observed and upheld.

Details

Humanomics, vol. 31 no. 3
Type: Research Article
ISSN: 0828-8666

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Article
Publication date: 8 January 2018

Mohammad Abdullah

This paper attempts to contextualise the potential role of waqf (plural; awqaf, Islamic perpetual trust) in the contemporary world, particularly, in the developmental…

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2686

Abstract

Purpose

This paper attempts to contextualise the potential role of waqf (plural; awqaf, Islamic perpetual trust) in the contemporary world, particularly, in the developmental arena. The purpose of this paper is to provide a framework for awqaf to maintain its convergence with some of the fundamental goals of the SDGs which are also congruent with the maqasid al-shariah (the higher objectives of shariah).

Design/methodology/approach

This paper is based on a desk-based research, and it adopts the qualitative research paradigm for the analysis of the available literature.

Findings

This paper finds that most of the 17 developmental goals of the SDGs comfortably match with the long-term objectives of shariah and there is good scope for the stakeholders of awqaf to develop waqf-based development plan in line with the framework of SDGs. Additionally, it finds that the global awqaf enjoy sufficient financial capacity to help muslim majority countries to realise some of the most relevant and urgent maqasid-oriented SDGs in a timely manner.

Research limitations/implications

The scope of this paper is limited to analyse the potential role of global awqaf in realising some of the most urgent maqasid-based development objectives in congruence with SDGs. For the purpose of maintaining the coherence in the focus of the study, this paper does not undertake any comparison between the waqf and other forms of endowments/charities in fulfilling the similar objectives.

Practical implications

This paper provides a framework for maqasid-oriented waqf-based development plan followed by provision of some critical recommendations on how the global awqaf can potentially spearhead the initiative of Islamic charities in realising the maqasid-oriented SDGs among muslim majority countries.

Originality/value

This paper adds original value to the available literature on the potential of waqf in the arena of development. The paper analyses the role of waqf in achieving the most urgent maqasid-based SDGs, and thus, it fills the existing gap of a systematic research on the possible collaboration of global awqaf and SDGs.

Details

International Journal of Social Economics, vol. 45 no. 1
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 25 May 2010

Ibrahim Nuruddeen Muhammad

The purpose of this paper is to raise awareness of the role of Islamic endowments (awqaf) as viable mechanisms for financing poverty alleviation programmes and the value…

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1985

Abstract

Purpose

The purpose of this paper is to raise awareness of the role of Islamic endowments (awqaf) as viable mechanisms for financing poverty alleviation programmes and the value of the third sector in promoting public welfare.

Design/methodology/approach

Secondary sources provided the main data for the study. These were supplemented with personal discussions and observations. Narrative approach was used for analysis.

Findings

The lack of awareness about endowments (awqaf) is a barrier to harnessing their potentials in redressing socio‐economic inequities and enhancing the quality of life of the poor in Kano.

Social implications

Scholars, merchants and civil society organizations will be awakened to the need to cooperate in employing the institution of awqaf reducing poverty through the provision of quality education, better health care and employment opportunities. Government will be made aware of the need to explore non‐conventional methods in tackling poverty, recognize Islamic endowments (awqaf) as viable alternatives in financing community welfare programmes and provide all necessary policy support –legal/institutional/financial – for their smooth operation.

Originality/value

The worth of this paper lies in drawing the attention of stakeholders, like policy makers, and the general public to the contemporary relevance of, and demand for, Islamic endowments (awqaf) in solving many of the socio‐economic problems excluding the poor from leading a decent life.

Details

Humanomics, vol. 26 no. 2
Type: Research Article
ISSN: 0828-8666

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Article
Publication date: 15 November 2018

Syadiyah Abdul Shukor, Fuadah Johari, Kalsom Abd Wahab, Zurina Kefeli @ Zulkefli, Nursilah Ahmad, Mohammad Haji Alias, Asma Abdul Rahman, Nor Masitah Mohd Orip, Patmawati Ibrahim and Mohd Fauzi Abu-Hussin

This paper aims to explore the relationship between integrity, reputation, trust on awqaf institution and intention to endow cash waqf.

Abstract

Purpose

This paper aims to explore the relationship between integrity, reputation, trust on awqaf institution and intention to endow cash waqf.

Design/methodology/approach

Quantitative research using survey questionnaire was conducted. A total of 377 completed survey questionnaires were received and analyzed using structural equation modeling.

Findings

Findings show that integrity and reputation of awqaf institutions have direct impact on endowers’ trust on awqaf institution, which consequently lead to endowers’ intention to endow cash waqf.

Originality/value

This study provides practical information on how awqaf institutions could develop endowers’ trust on awqaf institutions, which will consequently increase the intention of endowers to endow cash waqf.

Details

Journal of Islamic Marketing, vol. 10 no. 2
Type: Research Article
ISSN: 1759-0833

Keywords

Content available
Article
Publication date: 21 February 2020

Mohammad Abdullah

This paper aims to analyse the Sharī'ah premises of classical waqf doctrines followed by critically analysing the framework of waqf jurisprudence (fiqh al-awqāf) from a…

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1573

Abstract

Purpose

This paper aims to analyse the Sharī'ah premises of classical waqf doctrines followed by critically analysing the framework of waqf jurisprudence (fiqh al-awqāf) from a Maqāṣid al-Sharī'ah (the higher objectives of Islamic law) perspective. The objective of examining the jurisprudential framework of waqf from a maqāṣid perspective is to contextualise the scope of dynamism and innovation in the modern waqf structure.

Design/methodology/approach

For examining the jurisprudential aspects of classical fiqh al-awqāf with a special reference to Maqāṣid al-Sharī'ah, the paper analyses the classical waqf books and treatises from the four Sunni schools of jurisprudence by employing a textual analysis method.

Findings

The paper finds that the key constituents of maqāṣid are interwoven in the classical discourse of waqf rulings. It finds that in deriving the principles of waqf, the jurists ensured that the essentialities of Maqāṣid al-Sharī'ah are subtly intermingled with the necessary components of fiqhī principles. Deconstructing the applied analogical reasoning of the classical jurists in deriving the waqf rulings, this paper provides recommendations for maqāṣid-oriented application of waqf in the modern context.

Research limitations/implications

This study does not cover either the historical contribution of waqf among the Muslim societies nor does it touch on the empirical aspects of modern waqf. Rather, the focus of the study is limited to analysing the classical jurisprudential rulings of waqf and their distillation process from a Maqāṣid al-Sharī'ah perspective. The study has good implication for modern awqāf, which need to be created, managed and directed in the spirit of Maqāṣid al-Sharī'ah.

Practical implications

The key objective of adopting the maqāṣid framework for the analysis of fiqh al-awqāf in its classical permutations is to learn how to utilise the maqāṣid approach as a baseline for the deduction of new waqf rulings in a contextualised term.

Originality/value

The novelty of the paper lies in its examination of the classical waqf rulings distillation process, and the cogent intersection of Maqāṣid al-Sharī'ah with the principles of fiqh. By delving into the Sharī'ah premises of classical waqf jurisprudence through the lens of maqāṣid, the paper adds an original value and fills an existing gap in the available literature.

Details

Islamic Economic Studies, vol. 27 no. 2
Type: Research Article
ISSN: 1319-1616

Keywords

Content available
Article
Publication date: 27 March 2020

Abdelkader Laallam, Salina Kassim, Engku Rabiah Adawiah Engku Ali and Buerhan Saiti

This study aims to highlight the importance of intellectual capital (IC) for the operation of waqf (Islamic endowment) institutions, as few studies have discussed this…

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1928

Abstract

Purpose

This study aims to highlight the importance of intellectual capital (IC) for the operation of waqf (Islamic endowment) institutions, as few studies have discussed this issue in relation to non-profit religious organisations, particularly waqf organisations. Consequently, this study hopes to contribute to the development of waqf institutions in terms of human capital proficiency, the efficiency of operations and the effectiveness and sustainability of performance.

Design/methodology/approach

The authors reviewed a significant body of relevant studies written on various aspects of IC, to highlight the significance of considering IC in the operation of non-profit organisations (NPOs) and waqf institutions.

Findings

This study highlights the importance of IC in the operation of waqf institutions. It provides a platform that facilitates understanding of the existing obstacles and challenges in waqf institutions (such as lack of accountability, lack of funding, mismanagement and lack of trained labour, among others) and offers potential solutions through the consideration of knowledge and IC.

Research limitations/implications

This study is a conceptual analysis of IC in the context of NPOs. Future studies should conduct empirical testing, which will provide more detailed discussion and enriching insights into the issue of IC and the performance of NPOs, particularly in the case of waqf institutions.

Practical implications

This study provides several important implications for waqf institutions and other NPOs, as it sheds light on the consideration of knowledge and IC in their operations.

Originality/value

To the best of the authors’ knowledge, this study is the first to discuss the issues of waqf in the light of IC and provide an integrated framework for the operation of waqf institutions.

Details

ISRA International Journal of Islamic Finance, vol. 12 no. 1
Type: Research Article
ISSN: 0128-1976

Keywords

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Article
Publication date: 20 June 2016

Habib Ahmed and Ak Md Hasnol Alwee Pg Md Salleh

This paper aims to develop a conceptual framework of inclusive Islamic financial planning (IFP) by combining the traditional Islamic institutions of zakat and awqaf with…

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6189

Abstract

Purpose

This paper aims to develop a conceptual framework of inclusive Islamic financial planning (IFP) by combining the traditional Islamic institutions of zakat and awqaf with contemporary notions of financial planning, financial inclusion and financial literacy that caters to the short-term and long-term financial goals of the poor.

Design/methodology/approach

Being a conceptual article, an inclusive IFP framework is described, analyzed and developed by integrating modern notions of financial inclusion, financial planning and financial literacy with the concepts of zakat and awqaf.

Findings

Using the notion of a hierarchy of needs and a financial planning model, an inclusive IFP framework that can be used by the poor is outlined. The complementary role of the non-poor households who provide funds for zakat and awqaf is also identified.

Research limitations/implications

The applicability of an inclusive IFP would require Islamic financial instruments and products, institutional development and existence of a social planner who can integrate zakat, awqaf and financial planning to serve the financial needs of the poor.

Social implications

Application of an inclusive IFP that can mitigate poverty would necessitate integrating financial planning skills and knowledge with traditional institutions of zakat and awqaf to provide holistic financial advice and services to the poor households.

Originality/value

Discussion of financial planning in financial inclusion literature is scant. The paper explores and offers a novel approach of poverty mitigation by utilizing the full spectrum of IFP that considers the financial needs and allows for the creation of a personalized financial plan for low-income households.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 9 no. 2
Type: Research Article
ISSN: 1753-8394

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Article
Publication date: 16 November 2020

Muhammad Usman and Asmak Ab Rahman

This paper aims to study waqf practice in Pakistan with regard to its utilisation in funding for higher educational institutions (HEIs) and investigates waqf raising, waqf

Abstract

Purpose

This paper aims to study waqf practice in Pakistan with regard to its utilisation in funding for higher educational institutions (HEIs) and investigates waqf raising, waqf management and waqf income utilisation.

Design/methodology/approach

The paper is based on the views of 11 participants who are actively involved in the waqf, its raising, management and income utilisation, and is divided into three subcategories: personnel of higher educational waqf institution, personnel of waqf regulatory bodies and Shari’ah and legal experts as well as archival records, documents and library sources.

Findings

In Pakistan, both public and private awqaf are existing, but the role of private awqaf is greater in higher education funding. However, due to lack of legal supervision private awqaf is considered as a part of the not-for-profit sector and legitimately registered as a society, foundation, trust or a private limited company. Waqf in Pakistan is more focusing on internal financial sources and waqf income. In terms of waqf management, they have firm guidelines for investing in real estate, the Islamic financial sector and various halal businesses. Waqf uses the income for developmental and operational expenditure, and supports academic activities for students and staff. Waqfs are also supporting some other HEIs and research agencies. Thus, it can be revealed that a waqf can cater a sufficient amount for funding higher educational institutions.

Research limitations/implications

In Pakistan, both public and private awqaf are equally serving society in different sectors, but the role of private awqaf is much greater in funding higher education. Nevertheless, the government treats private awqaf as a part of not-for-profit sector in the absence of a specific legal framework and registers such organisations as society, foundation, trust or private limited company. The waqf in Pakistan mostly relies on internal financial resources and income from waqf assets. As the waqf managers have over the time evolved firm guidelines for investment in real estate, Islamic financial sector and various other halal businesses, and utilisation of waqf income on developmental and operational expenditures, academic activities of students and educational staff, other HEIs and research agencies, it can be proved that the waqf can potentially generate sufficient amount for funding HEIs.

Practical implications

The study presents the waqf as a social finance institution and the best alternative fiscal instrument for funding works of public good, including higher education, with the help of three selected waqf cases. Hence, the paper’s findings offer some generalisations, both for the ummah at large and Pakistan.

Social implications

The paper makes several policy recommendations for policymakers, legislators and academicians, especially the government. As an Islamic social finance institution, the waqf can help finance higher education anywhere around the world in view of the fact that most countries grapple with huge fiscal deficits and are hence financially constrained to meet growing needs of HEIs.

Originality/value

The study confirms that the waqf can be an alternative source for funding higher education institutions whether it is managed by the government or is privately controlled.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 14 no. 2
Type: Research Article
ISSN: 1753-8394

Keywords

Content available
Article
Publication date: 4 August 2020

Mohammad Abdullah

This paper aims to analyse the Sharīʿah premises of waqf (Islamic endowment), followed by dilating on the nature of argumentation among the classical jurists on its rules…

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1110

Abstract

Purpose

This paper aims to analyse the Sharīʿah premises of waqf (Islamic endowment), followed by dilating on the nature of argumentation among the classical jurists on its rules and principles. The paper critically analyses the edifice of the applied juristic analogy of different early jurists in deriving various waqf doctrines. The objective of analysing the jurisprudential framework of waqf in its classical mould is to conceptualise the methods, mechanism and nature of juristic analogies in deriving the waqf principles. This analysis is critical to understand the scope of jurisprudential flexibility in modern awqāf.

Design/methodology/approach

The paper is an outcome of a library-based research. It uses the classical jurisprudential treatises of waqf with an aim to analyse the Sharīʿah basis of the institution, the premises of its key principles and the applied juristic analogy to derive the same. The paper covers the classical waqf books and treatises from the four Sunni schools of jurisprudence and uses a textual analysis method.

Findings

The paper finds that in its initial phase, the conceptual framework of waqf was not unanimously agreed by all jurists, rather its Sharīʿah permissibility remained critically disputed among them for a while. Though, the opinion of those jurists who approved the Sharīʿah-validity of waqf was to prevail in the later stage, disagreement persisted with reference to its necessary features and defining criteria. It is found that in the classical waqf literature, two most disputed aspects of waqf jurisprudence constituted the requirements for completion of a waqf and its ownership status.

Research limitations/implications

This study neither covers the historical contribution of waqf among the Muslim societies nor touches on the empirical aspects of modern waqf. Rather, the focus of the study is limited to analysing the classical jurisprudential discourse of waqf and distillation process of its rulings.

Practical implications

The objective of analysing the classical juristic discourse of waqf is to underline the premises of classical juristic analogy in determining the framework of fiqh al-awqāf (jurisprudence of waqf) in its classical permutations and to learn how to adopt a similar approach for deduction of new waqf rulings.

Originality/value

This paper adds original value to the body of waqf literature for analysing the classical waqf rulings distillation process along with examining the methods and mechanism of juristic analogy.

Details

ISRA International Journal of Islamic Finance, vol. 12 no. 2
Type: Research Article
ISSN: 0128-1976

Keywords

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