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This paper aims to develop an integrated waqf-based Islamic microfinance (IsMF) for poverty reduction in Bangladesh. Microfinance institutions (MFIs) have been constrained by the high cost of funds, high interest rate charges and poor human resource quality of the recipients. Islamic MFIs have recently evolved with the hope of overcoming these financial, ethical and human capital deficiencies faced by the conventional financial institutions. Moreover, a good number of integrated models have been proposed to enhance the role played by Islamic MFIs. Most of these models, however, lack empirical justifications.

The research uses survey techniques. A total of 381 respondents were included in the survey. The integrated waqf-based Islamic microfinance model (IWIMM) was earlier on developed using literature and intellectual discussions. There are six constructs presenting the IWIMM, namely, waqf resources, IsMF, takaful, project financing, human resource development and poverty alleviation. In the survey instrument, 45 items represent the six constructs, but only 26 items have been retained after factor analysis. Structural equation modelling has been adopted to examine the relationship among the constructs.

The results show that there are significant relationships between IsMF and takaful, waqf resources and human resource development, takaful and human resource development, IsMF and human resource development and, waqf resources and project financing. The results also indicate that poverty alleviation is possible through the integration of these constructs.

Though the paper has studied conventional and Islamic MFIs in Bangladesh, one of the populated Organisation of Islamic Cooperation (OIC) member countries and also where poverty incidence is high, further studies need to be conducted in other OIC member countries to adopt the model in line with practical and regulatory environment of those countries. Similarly, the study is based on the perception of the respondents, which limits the generalization of the result.

The paper proposed a model that has the potential of being applied for poverty alleviation programmes in most of the OIC member states.

The present paper has developed an IWIMM for poverty reduction.

This study aims to extend the investigation on leader communication by assessing the usage of motivating language (ML) by leaders in Waqf institutions in Malaysia.

Data analysis was carried out using structural equation modelling via the partial least squares. The probability sampling technique was deemed more suitable for this study as the available data was definable for constructing the sampling frame.

Management effectiveness was shown to have a significant effect on direction-giving and meaning-making language (MML), but not on empathetic language (EL). The findings demonstrate that increasing use of directive and MML leads to greater management performance; however, increased use of EL has no such effect.

The findings should not be taken as a comprehensive solution for improving the management effectiveness of all Waqf institutions. As the study only focused on the aspect of leader communication in Waqf institutions, the findings cannot be generalized to other contexts. Additionally, this study had only examined religious-based non-profit organizations (NPOs) with affiliations to a religious body, mission statements that incorporate religious values, financial support from religious sources and governance structure and employee selection based on religious processes. Hence, the findings cannot be used as a reference in the context of non-religious NPOs.

This paper contributes to the theoretical enhancement of existing literature about leader communication towards improving institutional effectiveness. The current study has empirically tested the model through the integration of the ML theory. Thus, the leader’s choice of language improves employee motivation and ultimately institutional productivity and effectiveness.

There is a glaring gap in empirical studies on the relationship between ML usage by leaders and management effectiveness specifically in the context of Malaysian organizations. Based on rigorous searches using the Scopus and Web of Sciences databases, it was found that past studies investigating the said relationship had focused more on Western countries. This is a crucial gap that must be addressed to gain a deeper understanding of the effect of ML on management effectiveness, especially in the Malaysian setting.

This paper critically reviews and analyzes the trends in waqf studies within the Islamic economics literature. It analyzes the recent developments and debates in waqf reform and advances the argument for prioritizing research on waqf economics; the waqf dimension that is concerned with modelling how to utilize it to enhance productivity, consumption, redistribution, investment and saving, and generally contribute sustainably towards poverty reduction, economic empowerment and development.

The paper is conceptual in nature, focusing on a systematic historical analytical review of waqf studies in Islamic economics literature.

Despite the documented historic role of waqf in constructing the Muslim socio-economic architecture as the third economic sector and a mechanism for civilizational development and renewal, it received little attention in the early writings on modern Islamic economics. While the past one decade has witnessed a renewed interest in waqf research, most studies focus on its legal, juristic and administrative aspects in addition to the nostalgic reflections on its past glories. Little attention is comparatively given to the socio-economic aspect, which represents the actual raison d’être for its institutionalization.

An important task ahead of the current generation of Islamic economists is to formulate waqf-based development models that are rooted in proper diagnosis and deep understanding of the current socio-economic realities of the OIC member countries for the purpose of uplifting living standards and stimulating sustainable socio-economic development.

The paper contributes to the debate on priorities in waqf studies and practice and can trigger further discourses and research on the future of research in waqf economics.

The aim of this paper is to propose and verify a structured model for Islamic micro-finance in Bangladesh. The Islamic micro-investment model (IMIM) aims to harness the role of the Waqf/philanthropic sector to empower micro-entrepreneurs.

The researchers use the survey technique to investigate the micro-entrepreneurs’ intention to adopt the model. A total of 400 questionnaires are distributed with 207 responses being returned (51.75 per cent). In this study, a structural model is tested to examine the relationship of the behavioural intention to adopt Islamic micro-investment with the attitude towards behaviour, subjective norm, normative belief and behavioural belief.

The findings of the research show that, overall, the model fits the data and can be used to advance Islamic micro-finance in Bangladesh. However, out of the four hypotheses tested, only two are accepted vis-à-vis the influence of behavioural belief and normative belief on attitude and subjective norm, respectively.

The research suggests the need for an awareness programme on Islamic micro-finance and the role of Waqf in the economic empowerment of the populace.

The IMIM aims to harness the role of the Waqf/philanthropic sector to empower micro-entrepreneurs.

The model of Islamic micro-finance may empower poor micro-entrepreneurs and harnesses the potential of Waqf for socio-economic development, thereby, among others, reducing the cost of capital.

Only a few studies have been conducted on micro-finance from an Islamic perspective in Bangladesh. The IMIM, which has been developed by Muhammad (2012) and tested in Nigeria, is the first to be validated through an empirical study in Bangladesh. Thus, testing the viability of IMIM in the Bangladesh context will certainly add value for the clients, institutions and policymakers in Islamic micro-finance.

This paper attempts to rejuvenate waqf in the health sector by identifying and elaborating on its issues and challenges. The government budget for this sector is significant; thus, the present paper aims to provide a nongovernment budget to lessen the government's burden

This qualitative study uses structured in-depth interviews with 12 respondents to generate valuable insights and thoughts in order to frame recommendations.

The findings highlight the key themes: human resources, finance, collaboration and coordination, legal issues, basic healthcare insufficiency, data and digitalization, accountability and sustainability and infrastructure. The following are the proposed solutions: capacity building program (CBP), hybrid waqf scheme, big data connectivity, specific legal framework, refocusing and reallocating of resources for the health sector during and after the pandemic

This study focuses on Indonesia and Malaysia as the authors believe that these two countries have a lot of practice in the field. Further studies may focus on other countries, such as Pakistan.

This paper proposes potential ways to embrace government policy consideration, optimize the elaboration among productive waqf with other kinds, improve governance of and coordination among waqf institutions and increase the awareness to improve significant development.

By considering this paper's recommendations, waqf stakeholders in the healthcare system can improve the social benefits for poor and needy patients.

This study presents the latest strategic analysis of waqf, which is important for the government policy in developing waqf.

This paper aims to enhance the impact of incorporated waqf institutions by blending their resources to promote responsible small businesses that are inclusive of human development, service to society and preservation of ecological environment and other species. This is expected to shift the paradigm of businesses from the current waste-oriented linear economy to ideally a zero-waste circular economy.

This is an analytical study building on the experience of European Venture Philanthropy Organizations (VPOs) that work with the primary objective of making impactful businesses successful, with capital protection and return on investment being of secondary concern. This paper suggests an incorporated institutional design that blends resources for promoting responsible businesses using a new hybrid financial mechanism, namely, equity-at-default (EaD) to replace collateral and foreclosure requirements with responsibility and compassion.

The research calls for changing the business paradigm from linear to circular, an incorporated institutional framework for venture waqf, purpose of the waqf to make impactful small businesses successful and designing a financial contract to loan in favor of responsible businesses that convert to equity stake for the waqf in case of default (EaD) replacing collateral and foreclosure requirements.

This is a theoretical study motivated by the success of VPOs but assigns a new role to waqf institutions. Furthermore, the incorporated nature of waqf is a new idea and EaD is a new mechanism. Being new, these ideas have the risk of not being implemented. However, the broader message that waqf shall promote businesses that are inclusive of ecological concerns is generally applicable.

The paper has a significant practical implication to transform the responsibility and consciousness of businesses. Waqf is fundamentally a compassionate institution, and it must enhance the responsibility of businesses to become more inclusive of the environment and other species. It should also become more compassionate toward businesses that are in distress and default. In this sense, the paper tries to internalize compassion in financial contracting that can potentially change the architecture of lending.

Altering businesses’ mindset from a waste-driven extractive linear economy to inclusive circular economy has a tremendous transformative role. This will have implications for enhancing business consciousness and responsibility. As poverty is a phenomenon of state of mind, changing the society’s state of thought in Muslim communities is expected to have basic positive implications. Entrepreneurs with a new mindset can have far-reaching positive impacts on the society.

The paper offers potentially innovative perspectives in four key areas and blends the different resources in an incorporated waqf that makes responsible entrepreneurs assume a partnership role in times of distress through EaD. Furthermore, the integration of compassion in financial contracting could have better implications for return on investment as well. The ideal state of an economy is where waste is turned into wealth and well-being is something that all policymakers must keep on the top of their agendas.

The purpose of this paper is to investigate the relationship between the sub-components of intellectual capital and organisational performance in waqf institutions in Algeria.

Data was collected through structured questionnaires from a sample of 193 waqf employees working in 23 different provinces in Algeria and analysed using partial least squares – structural equation modelling (PLS-SEM) software to test the path modelling and the relationship between the instruments.

The results of this research show that human capital, structural capital and spiritual capital have a positive and significant relationship with organisational performance. However, relational capital, social capital and technological capital did not demonstrate any kind of role in the context of waqf institutions in Algeria.

The findings of this research are of great importance for waqf institutions in Algeria, as they provide a comprehensive screening with regard to organisational performance of these institutions through the lens of intellectual capital. The findings help waqf managers and policy makers consider effective solutions for the weaknesses and challenges impeding the performance of waqf institutions, in the hope of retrieving their role in serving and developing societies.

In the existing body of literature, there is a lack of research focusing on intellectual capital in the context of religious non-profit organisations particularly waqf institutions. Thus, this research adds to the body of knowledge on intellectual capital while highlighting its role and importance within the waqf industry, particularly in the context of Algeria. This research is considered among the primary attempts to investigate the impact of intellectual capital components on the organisational performance of waqf institutions in Algeria.

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.

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

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.

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.

The paper aims to examine whether attitude, subjective norm and perceived behavioural control (PBC) would influence the level of acceptance of the benefidonors concept amongst waqf stakeholders. In addition, antecedents to attitude, namely, religiosity, level of knowledge, perception of fairness and self- efficacy, were also examined, resulting in eight hypotheses of the study.

This research used an online survey questionnaire. Respondents are waqf stakeholders comprising of donors, beneficiaries, waqf managers, activists, volunteers and the community. A total of 198 usable responses were analysed using SmartPLS version 3.0.

The research model explains 57.5% of the intention to accept the benefidonors concept. Six hypotheses were accepted, which includes attitude, subjective norms and perceived behaviour control to accept the concept; perception of fairness to attitude; and self-efficacy and facilitating resources to PBC.

The study looks at six groups of waqf stakeholders but could not distinctly categorize the stakeholders into groups because of their multiple roles. Future studies can examine each of the different group.

Waqf institutions should improve their efforts to encourage beneficiaries and donors to become benefidonors such as having an online platform and providing training for waqf stakeholders.

Benefidonors can help uplift the poverty level of the less privileged, reduce cost of service and thus assist to reduce the gap of income inequality in the community.

To the best of the authors’ knowledge, this is the first empirical study that examines the intention of Waqf stakeholders to accept the benefidonors concept.

The present paper aims to propose a viable alternative model for human capital development (HCD), termed as the integrated cash waqf micro enterprises investment (ICWME-I) model, which is expected to contribute to the development of micro enterprises in Malaysia.

This is a conceptual paper for the development of the ICWME-I model. It is purely qualitative in nature, using content analysis. It comprehensively reviews the literature related to HCD issues faced by micro enterprises and existing studies related to cash waqf (Islamic endowment) to construct the ICWME-I model.

The proposed ICWME-I model is specially designed for HCD of micro enterprises. It is an appropriate initiative to upgrade micro enterprises through HCD programmes by ensuring proper utilization of cash waqf funds to build modern training centres at subsidized costs with state-of-the-art facilities. The training centres would subsidize the participation fees of micro enterprises and provide them with facilities to undertake education and training programmes, as well as other kinds of activities for upgrading, improving and enhancing human capital capacity and skills of micro enterprises. The potential challenges of the ICWME-I model are also highlighted in this study.

This paper attempts to construct the ICWME-I model based on an extensive review of literature related to micro enterprises, cash waqf and HCD. Among its major limitations is the fact that the ICWME-I model is not empirically validated and tested in this research. This can be carried out in future studies.

The present study could have an enormous impact on micro entrepreneurs via HCD programmes. The most important impact would be on government budgets, as this ICWME-I model is expected to generate its own funds from cash waqf for micro enterprises’ HCD.

This paper brings forward an original and viable model to develop human capital for micro enterprises development. This model involves the building of training centres using cash waqf raised from donors.