Financial sustainability of waqf properties in Singapore and Selangor, Malaysia
Financial sustainability refers to the ability of the waqf agency to have financial capacity in the short and long run to perform its role in managing their waqf assets and, at the same time, utilizing the assets to generate benefits distributed to the beneficiaries as prescribed in the waqf deed...
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my-upm-ir.854532021-08-24T03:53:19Z Financial sustainability of waqf properties in Singapore and Selangor, Malaysia 2019-04 Hashim, Saleh Financial sustainability refers to the ability of the waqf agency to have financial capacity in the short and long run to perform its role in managing their waqf assets and, at the same time, utilizing the assets to generate benefits distributed to the beneficiaries as prescribed in the waqf deed. Its significance permeates through the overall administration and management of waqf assets, and is pivotal to the successful operation of a waqf agency. Nevertheless, waqf in Malaysia is challenged by a large hectarage of undeveloped waqf land. Many waqf agencies face difficulties in generating higher income due to inefficient use of waqf land. Growing costs of maintaining the undeveloped waqf land and identifying profitable investments add pressures to funding the operation of waqf agencies. Thus, financial sustainability lends an alternative premise for the waqf agencies to address the problem. Despite wide coverage of financial sustainability in a non-profit organization, there are limited studies done in the waqf area which adopts the Islamic perspective. Therefore, this study explores financial sustainability practices in two prominent waqf agencies in Malaysia and Singapore which contributes the idea of financial sustainability in the waqf area. Purposive sampling was used in this study to gather the data from the two prominent and experienced waqf agencies. The selected waqf agencies were Perbadanan Wakaf Selangor in Malaysia and WAREES Investment Pte. Ltd. in Singapore. Qualitative case study was used to obtain vast information on the actual implementation by using in-depth interview, observation and document review methods. The study found that both waqf agencies need to find appropriate properties development strategies, such as having strong team management and expert, proper planning for short and longterm, appropriate financing method, proper properties management and maintenance, concentration on income generation, proper financial management and accounting, and demonstrating value and accountability to the public. The results of the study provide the model of financial sustainability practices within Islamic perspective for the State Islamic Religious Council in order to improve their waqf properties management and the benefits generated for the people. Waqf - Selangor Waqf - Singapore Finance 2019-04 Thesis http://psasir.upm.edu.my/id/eprint/85453/ http://psasir.upm.edu.my/id/eprint/85453/1/FEP%202019%2055%20IR.pdf text en public doctoral Universiti Putra Malaysia Waqf - Selangor Waqf - Singapore Finance Abdullah, Amalina |
| institution |
Universiti Putra Malaysia |
| collection |
PSAS Institutional Repository |
| language |
English |
| advisor |
Abdullah, Amalina |
| topic |
Waqf - Selangor Waqf - Singapore Finance |
| spellingShingle |
Waqf - Selangor Waqf - Singapore Finance Hashim, Saleh Financial sustainability of waqf properties in Singapore and Selangor, Malaysia |
| description |
Financial sustainability refers to the ability of the waqf agency to have financial
capacity in the short and long run to perform its role in managing their waqf
assets and, at the same time, utilizing the assets to generate benefits distributed
to the beneficiaries as prescribed in the waqf deed. Its significance permeates
through the overall administration and management of waqf assets, and is
pivotal to the successful operation of a waqf agency. Nevertheless, waqf in
Malaysia is challenged by a large hectarage of undeveloped waqf land. Many
waqf agencies face difficulties in generating higher income due to inefficient use
of waqf land. Growing costs of maintaining the undeveloped waqf land and
identifying profitable investments add pressures to funding the operation of waqf
agencies. Thus, financial sustainability lends an alternative premise for the waqf
agencies to address the problem. Despite wide coverage of financial
sustainability in a non-profit organization, there are limited studies done in the
waqf area which adopts the Islamic perspective.
Therefore, this study explores financial sustainability practices in two prominent
waqf agencies in Malaysia and Singapore which contributes the idea of financial
sustainability in the waqf area. Purposive sampling was used in this study to
gather the data from the two prominent and experienced waqf agencies. The
selected waqf agencies were Perbadanan Wakaf Selangor in Malaysia and
WAREES Investment Pte. Ltd. in Singapore. Qualitative case study was used to
obtain vast information on the actual implementation by using in-depth interview,
observation and document review methods. The study found that both waqf
agencies need to find appropriate properties development strategies, such as
having strong team management and expert, proper planning for short and longterm,
appropriate financing method, proper properties management and
maintenance, concentration on income generation, proper financial
management and accounting, and demonstrating value and accountability to the public. The results of the study provide the model of financial sustainability
practices within Islamic perspective for the State Islamic Religious Council in
order to improve their waqf properties management and the benefits generated
for the people. |
| format |
Thesis |
| qualification_level |
Doctorate |
| author |
Hashim, Saleh |
| author_facet |
Hashim, Saleh |
| author_sort |
Hashim, Saleh |
| title |
Financial sustainability of waqf properties in Singapore and Selangor, Malaysia |
| title_short |
Financial sustainability of waqf properties in Singapore and Selangor, Malaysia |
| title_full |
Financial sustainability of waqf properties in Singapore and Selangor, Malaysia |
| title_fullStr |
Financial sustainability of waqf properties in Singapore and Selangor, Malaysia |
| title_full_unstemmed |
Financial sustainability of waqf properties in Singapore and Selangor, Malaysia |
| title_sort |
financial sustainability of waqf properties in singapore and selangor, malaysia |
| granting_institution |
Universiti Putra Malaysia |
| publishDate |
2019 |
| url |
http://psasir.upm.edu.my/id/eprint/85453/1/FEP%202019%2055%20IR.pdf |
| _version_ |
1747813542538510336 |