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Article
Publication date: 13 November 2017

Abdul Hamid Mar Iman and Mohammad Tahir Sabit Haji Mohammad

This paper aims to add to the existing body of literature on this subject by advocating how waqf-based entrepreneurship can be practiced in Malaysia.

Abstract

Purpose

This paper aims to add to the existing body of literature on this subject by advocating how waqf-based entrepreneurship can be practiced in Malaysia.

Design/methodology/approach

The paper begins by presenting an overview of waqf and its role in entrepreneurship and proceeds by proposing a model of waqf-based entrepreneurship which is synthesized from various models existing in the Islamic world.

Findings

The paper concludes by recommending waqf-based entrepreneurship as an alternative socio-economic framework of society’s wellbeing.

Research limitations/implications

The research is limited to the preliminary aspects of waqf entrepreneurship.

Practical implications

Waqf organization may be able to finance its own businesses through crowdfunding and other methods and also disburse waqf funds to small and large ventures.

Social implications

The waqf system is a social tool that not only finances social development projects but also has social economic alternatives to assist poor and underprivileged groups in the society. This paper is toward such a socio-economic direction.

Originality/value

This paper might be considered the first attempt to detail the practical aspect of waqf entrepreneurship, in terms of enterprises to be financed, and how the funds to be accumulated.

Details

Humanomics, vol. 33 no. 4
Type: Research Article
ISSN: 0828-8666

Keywords

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Article
Publication date: 21 January 2021

Noor Azimah Ghazali, Ibrahim Sipan, Mohammad Tahir Sabit Haji Mohammad and Muhammad Arif Ab Aziz

This paper aims to propose a new framework for the management of a waqf land registration system in Malaysia that is compliant with Islamic law and the Malaysian legal…

Abstract

Purpose

This paper aims to propose a new framework for the management of a waqf land registration system in Malaysia that is compliant with Islamic law and the Malaysian legal system. The study sought to answer the following two research questions: what are the issues of the waqf land registration system and how to solve the issues of waqf land registration in Malaysia.

Design/methodology/approach

This study used a qualitative research method by using content analysis, legal investigation and doctrinal research. Data were collected through semi-structured interviews with lawyers, academicians and executive officers from the Department of Land and Mines, the State Islamic Religious Council and reviewed documents mainly from the Department of Waqf, Zakat and Hajj Malaysia.

Findings

A new framework for the management of waqf land registration in Malaysia was identified, which was developed based on current waqf issues such as problematic registration methods, lengthy and complicated procedures, interference in the jurisdiction of the civil court and idle waqf land. The framework overcame the flaw of the previous waqf land registration system in Malaysia.

Originality/value

The new framework will provide solutions to the current registration system within the National Land Code, 1965, which will secure property in the future.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 14 no. 3
Type: Research Article
ISSN: 1753-8394

Keywords

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Article
Publication date: 9 February 2015

Mohammad Tahir Sabit Haji Mohammad

This paper aims to present an alternative to current banking systems. The purpose of the paper is the optimisation of the concept of cash waqf and its management in the…

Abstract

Purpose

This paper aims to present an alternative to current banking systems. The purpose of the paper is the optimisation of the concept of cash waqf and its management in the framework of a waqf bank and its viability.

Design/methodology/approach

The study is doctrinal and empirical. Several assumptions concerning the structure and operation of the bank are made, surveyed and descriptively analysed.

Findings

The concept of cash waqf could be used for the operation of a waqf bank. There was a tendency among the given group of practitioners towards a corporate international social bank, capitalised by the waqf and non-waqf assets, sought after from the public and private sectors, as well as the Muslims and non-Muslims.

Research limitations/implications

Assumptions are basic. Empirical findings are based on the perspective of waqf trustees. Other stakeholders’ perspectives need further research.

Practical implications

The study is expected to persuade for, and assist in the establishment of a waqf bank.

Social implications

This paper could contribute to the effectiveness of waqf institutions in their delivery of public good to the poor and society. These implications are not restricted to a specific country. Charities and the poor of any society may benefit from this study if the idea of total social banking is upheld.

Originality/value

This study is the first to address the structure and operation of a waqf bank empirically.

Details

Humanomics, vol. 31 no. 1
Type: Research Article
ISSN: 0828-8666

Keywords

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Article
Publication date: 8 February 2018

Azniza Hartini Azrai Azaimi Ambrose, Mohamed Aslam Gulam Hassan and Hanira Hanafi

The purpose of this paper is to formulate a model for waqf financing of public goods and mixed public goods in Malaysia which constitute the country’s federal government…

Abstract

Purpose

The purpose of this paper is to formulate a model for waqf financing of public goods and mixed public goods in Malaysia which constitute the country’s federal government expenditures. The model is built on the basis of understanding the concept of waqf, learning from waqf institutions of the past and present and addressing specific Malaysian waqf issues.

Design/methodology/approach

This study uses both primary and secondary data. The primary data originate from semi-structured interviews of waqf academicians from the Islamic economics and Islamic finance fields, waqf government officials and private sector institutions that are involved in waqf management. The secondary data come from the Malaysian Federal Constitution, law enactments, books, e-books, bulletins, journals, conference proceedings, government reports and websites.

Findings

By synthesizing the data, it is found that return from cash waqf investment in unit trust can be used to finance 11 items of federal government expenditures. The overall process can be managed by Yayasan Waqaf Malaysia through a collaboration with an Islamic unit trust firm.

Practical implications

This research shows how waqf can practically assist the Malaysian federal government in financing public goods and mixed public goods. It indirectly shows an alternative source of financing for these goods. Other economies can also learn and adapt from the model developed in this paper.

Originality/value

This paper attempts to revive the function of waqf as a provider of public goods and mixed public goods from Islamic history. Inadvertently, this paper also introduces waqf as a possible fiscal tool.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 11 no. 3
Type: Research Article
ISSN: 1753-8394

Keywords

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Article
Publication date: 15 December 2017

Malik Shahzad Shabbir

The aim of this paper is to study the current status and development of waqf lands in Malaysia, specifically in the state of Selangor, Malaysia and propose a new model for…

Abstract

Purpose

The aim of this paper is to study the current status and development of waqf lands in Malaysia, specifically in the state of Selangor, Malaysia and propose a new model for categorisation of its waqf lands. Previous studies on waqf lands and allocation of financial resources on these lands have been general and scanty.

Design/methodology/approach

They lack the focus of categorising waqf lands according to sectors, economic attributes and strategic locations so that it was not easy to match these lands to the kind of resources and investment models required for their development. The present research is carried out to categorise waqf lands and prioritise them according to four major sectors, namely agriculture, commercial, residential and religious

Findings

The study is quantitative in nature and uses a multi criteria decision-making method, the Analytic Hierarchy Process (AHP) to prioritise the waqf lands by taking inputs from the officers working in Selangor Islamic Religious Council and some other related organisations. The study concludes with recommendations and suggestions for future research.

Originality/value

I have proposed a new model for the categorisation of waqf lands. Previous studies on waqf lands and its allocation of financial resources have been general and revealing. The present research is carried out to categorise waqf lands and prioritise them according to four major sectors, namely agriculture, commercial, residential and religious.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 11 no. 1
Type: Research Article
ISSN: 1753-8394

Keywords

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