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This study aims to examine the factors of implementing istibdal waqf and generating cash waqf funds through istibdal in Penang. This study was based on the previous problem statements, stating that waqf property could not be developed due to lack of cash funds. This has allowed the study to explore the factors for implementing istibdal waqf property and the extent to which the istibdal method can generate cash waqf funds in Penang.

This study adopted a qualitative method by conducting semi-structured interviews to achieve its research goals. Semi-structured interviews were conducted to comprehensively understand the current practice on istibdal cases in Penang State Islamic Religious Council (MAINPP) through official institutions concerned with waqf management practices in Penang. This research relied on purposive sampling to select the informants. It is a sampling strategy to select the informants in advance based on the research question. To achieve the purpose of this study, two officers from MAINPP were selected based on their working experience and specialisation criteria. As a result, several themes were successfully defined from the interview data before being analysed based on the content analysis method.

The results present three istibdal implementation processes outlined by MAINPP, namely, the istibdal implementation process for waqf land involved in the acquisition by state authorities (PBN), non-productive waqf land and istibdal applications from certain parties. The results also reveal two factors in implementing istibdal in Penang: the acquisition of waqf land by PBN and the application of istibdal for cemeteries by the Islamic Centre of Universiti Sains Malaysia. From the point of cash fund generation, no case of istibdal implementation records the generation of cash funds to MAINPP. Thus, this study ends with proposals for improving the process and implementing istibdal in Penang to generate cash funds to help MAINPP manage waqf properties.

The study only focused on implementing factors and generating cash waqf funds through istibdal in Penang. At the same time, it can be expanded to other states like Terengganu, Johor and Kelantan. This study only interviewed officers who manage matters related to the affairs of waqf properties. Therefore, it is believed that the study can be extended to other respondents, such as experts in cash fund generation investments and others.

This study proposed improvements to the policy and practice of istibdal waqf property to MAINPP after the shortcomings were identified throughout this study. If improved, these proposals will significantly impact the waqf properties involved in implementing istibdal, where it can generate cash and ensure the constant economic value of waqf properties.

This study has great implications for society through the development of a cash waqf fund that can provide great benefits to the needy, in addition to increasing funds for the welfare expenditure of Muslims through rental income, investment and development. Progress and significant impact on waqf property can provide a high indicator of the efficiency of an organisation in managing waqf property. This can attract the interest of the public, especially the wealthy, to always fulfil welfare through the waqf mechanism and share the wealth with the needy.

This study contributes to comprehensive field data on the implementation of istibdal in Penang. The data analysis results are significant to be used by the waqf property management.

The purpose of this study is to examine the management of cash waqf fund generation through the implementation of istibdal in Kedah.

The data are obtained through literature and empirical data. The authors first review the literature on the importance of waqf fundraising, the implementation factors of istibdal waqf and the relevance of istibdal method as a waqf fund generation medium to understand the extent to which the scholarly articles have discussed these topics. Furthermore, the authors conducted face-to-face interviews with two Kedah Islamic Religious Council (Majlis Agama Islam Kedah [MAIK]) officers, who were directly involved in the affairs of istibdal waqf to obtain holistic information regarding implementing istibdal waqf properties in Kedah. As a result, several themes are defined from the interview data before being analysed based on the content analysis method.

The results of the study show two istibdal implementation processes outlined by the Kedah Islamic Religious Council (MAIK), namely, the istibdal implementation process for waqf land registered title deed, and waqf land registered as reserve certificate for religious use like mosque and cemetery. The results also showed three factors in implementing istibdal in Kedah: the acquisition of waqf land by the state authority (PBN), istibdal application by the state education department (JPN) and istibdal application by the mosque committee. Out of eight cases of istibdal implementation, four have generated cash funds for MAIK through investment methods from the sale of waqf lands and rental of replaced shophouses that are able to cover the expenses of managing waqf properties in Kedah. Several suggestions are also recommended for MAIK to improve its istibdal policy, thus enabling the institution to generate cash waqf funds at the maximum rate.

This study only focused on the implementation factors and the generation of cash waqf funds through istibdal in Kedah, while it can be expanded to other states like Terengganu, Kelantan and Penang. Furthermore, this study only interviewed officers who manage matters related to the affairs of waqf properties, as the session can actually be extended to other respondents, such as those specialising in cash fund generation investments and others.

This study proposed some improvements to the policy and guidelines of istibdal waqf property to MAIK after a few shortcomings were identified throughout this study. If improved, these proposals will have a significant impact, especially on the waqf properties involved in the implementation of istibdal, where it has the potential to bring cash generation and ensure the constant economic value of waqf properties.

This study has a tremendous impact on society, in which their areas have cash waqf funds that can be developed. It can benefit the needy and increase funds for the welfare expenditure of Muslims through rental income, investment and development. Progress on waqf property provides a high indication of the efficiency of an organisation in managing the waqf property. Thus, the public, especially the rich, is motivated to fulfil their charitable practices through waqf mechanism and share their wealth with the needy.

This study contributes to comprehensive field data on the implementation factors and generation of cash waqf funds through the implementation of istibdal in Kedah. The results of this study are significant to be used by waqf property management.